| The decision to buy or build a new home is a | | | | leases paid to the developer or a third party for |
| momentous occasion at any phase in life, but the | | | | recreational facilities, golf courses and other amenities. |
| decision to buy or build a new home and choose the | | | | The best retirement communities will disclose any |
| best retirement living community can be especially | | | | additional costs you might have prior to closing. Some |
| intimidating. While some of the best retirement | | | | builders will put these costs on residents' shoulders, |
| communities are springing up everywhere in the | | | | failing to inform the buyer of this in the initial |
| United States, Florida remains one of the most | | | | purchase price or closing costs. Often times, buyers |
| popular choices for retirement because of its | | | | are not even aware of these additional costs until |
| favorable climate and variety of active senior lifestyle | | | | they receive their first tax bill or association fee |
| communities. When considering buying or building a | | | | statement. A builder may claim that placing the |
| home in a retirement living community, the first and | | | | responsibility of paying these taxes or fees on the |
| most obvious things buyers taken into consideration | | | | resident allows them to build homes at a lower initial |
| are qualities of the community itself. However, there | | | | cost. Prevent surprise taxes and fees by asking your |
| are many additional factors that should be considered | | | | retirement living community developer to tell you |
| in making a decision about buying or building a home | | | | about any additional CDD taxes, leases or other fees |
| where you will spend the rest of your life. Knowing | | | | upfront. |
| what to look for as a potential homeowner in a | | | | - Closing costs - Buyers often get caught up in the |
| retirement living community can help buyers make | | | | excitement of a home purchase and don't think to |
| better decisions for their golden years. | | | | ask how much it will actually cost to get into the |
| Several things to consider when trying to choose the | | | | new house. Buyers should be wary of additional |
| best retirement communities for your new home: | | | | closing costs as many developers tack thousands of |
| - The community's qualities - Consider the positive | | | | extra dollars onto closing statements for attorney |
| things the retirement living community has to offer. | | | | fees, and other miscellaneous fees that they may |
| Does the community promote an active senior | | | | claim to be necessary or standard practice. Generally, |
| lifestyle? Offer a variety of activities? What types of | | | | a contract cannot be closed until these additional fees |
| amenities are available to its residents? Is the | | | | are paid. Some of the best retirement communities |
| surrounding landscape pleasing? Consider the location | | | | will actually cover all of part of the closing costs |
| and nearby attractions. What is it like getting around | | | | themselves, which will save hundreds of dollars in |
| the area? What is traffic like? Another thing to | | | | up-front charges and eliminate the possibility of a |
| consider is the community's demographics - what | | | | finding a "big surprise" in the closing statement. |
| types of people live there? The best retirement | | | | - Construction satisfaction guarantee - Does the |
| communities are places where one would feel | | | | builder offer a construction satisfaction guarantee like |
| comfortable and be happy living day in and day out. | | | | those available at the best retirement communities? |
| - The builder's reputation - Another important thing to | | | | With a satisfaction guarantee, you can be confident |
| determine before buying a home in a retirement living | | | | in the builder's commitment to your satisfaction. In |
| community is whether or not the builder is solely | | | | these guarantees, the builder pledges to fix any |
| responsible for the homes or if they contract work | | | | construction you are not happy with and may even |
| out to other builders - the best retirement | | | | buy the house back if you are still unhappy at that |
| communities use builders who do the work | | | | point. Essentially, choosing a builder in a retirement |
| themselves. Some retirement communities will actually | | | | living community that offers a satisfaction guarantee |
| hire several contractors, which can affect the quality | | | | will bring peace of mind in the construction process. |
| of work - and may even put buyers in a situation | | | | Conclusion |
| where an outside contractor is responsible for their | | | | When considering buying or building a home in a |
| home warranty. Another important thing for a buyer | | | | Florida retirement living community, performing a |
| to consider is the contractor's stability. Will they be | | | | thorough evaluation of the builders and their policies is |
| around in two years? | | | | just as important as evaluating the community itself. |
| - Taxes and fees - Find out if the community is truly | | | | Once you've compared the best retirement |
| resident-owned - many retirement living community | | | | communities and found a retirement living community |
| home buyers are often surprised to find that they | | | | whose location and amenities fit your lifestyle, look |
| are paying additional hundreds or thousands of dollars | | | | for builders that build their own homes, have a good |
| in annual living costs. These additional costs can come | | | | reputation for quality and service, and offer |
| from the Community Development District (CDD), | | | | construction satisfaction guarantees, and be sure the |
| which places taxes on homes in the community in | | | | builder tells you about all potential costs upfront. You |
| order to cover the costs of public roadways, utilities | | | | might save thousands of dollars, and you'll be certain |
| and other improvements. Other fees may include | | | | to enjoy an easy transition to retirement. |