Age Restricted Housing
Age-restricted housing is a housing community that typically limits 80% of the ownership to individual who are over a set age. Often the minimum age for one of the owners is 50 years, but it could be 55 or even 60. In addition to restriction on ownership, such communities frequently have age requirements for residency as well. These communities are set up to accommodate older individuals who would like to live in areas without the perceived problems or having children around. In most cases a younger spouse or significant other is permitted to live in the community as long as one member meets the minimum age requirement.
Age-qualified communities, also known as 55+ communities, lifestyle communities or retirement communities, are often planned communities that offer homes and community features that are attractive to 55+ adults. These might include a clubhouse or lifestyle center with a good many activities, sometimes with indoor and outdoor swimming pools, exercise facilities, craft rooms, demonstration kitchens, Wall St. rooms, decks and patios for gathering.
We have a team of dedicated commercial real estate appraisers focused on this property type. Please contact us for any age-restricted housing appraisal services.