Lorri Molnar, Realtor

Earning your trust for over 40 years! Dublin, Hilliard, Worthington & Central Ohio Real Estate.

614.496.4012
  • Home
  • Search ALL Property for Sale
    • My Listings
  • For Buyers
  • For Sellers
  • Over 50?
  • Communities
    • Columbus
    • Delaware
    • Dublin
    • Powell
    • Hilliard
    • Westerville
    • Worthington
  • Contact Lorri
    • About Lorri
    • Testimonials
    • Newsletter Sign Up
  • Blog
    • Buyer Information
    • Seller Information
    • Community News
      • Columbus
      • Delaware
      • Dublin
      • Hilliard
      • Powell
      • Westerville
      • Worthington
    • Real Estate Market
      • Central Ohio News
      • National News
    • Real Estate for Seniors

Questions to Ask Before Choosing an Active Adult Community

July 6, 2020 by Lorri Molnar

Questions to Ask Before Choosing an Active Adult Community

Are you ready to relocate to an active adult community? If so, you’ll need to carefully consider several unique factors. 

As your friend, REALTOR, financial, and retirement advisor for decades, I am familiar with the ins and outs of relocation. My SRES® designation makes me uniquely qualified to help with additional information, training, and resources for seniors. Here are several factors you should keep in mind about active adult communities.

Questions about Location

Begin by reviewing your preferences and needs. Ask yourself the following questions:

  1. Do you prefer living close to family and friends? Would a specific location help maintain or promote your health?
  2. If you can do with minimal services, would a smaller urban facility work for you?
  3. Are you leaning toward a more extensive, independent campus that meets all your social needs and offers numerous onsite amenities?
  4. Will you keep your vehicle, or rely on the community transportation options or public transit?

Questions about Cost

Your options may be in large part determined by the amount of money you have saved, the money you receive from the sale of your existing home, and by how the SECURE Act, recently signed into law, affects your retirement accounts. As a holder of the Seniors Real Estate Specialist (SRES) designation, I can help.

Like location, there are important things you need to keep in mind concerning cost. Do you know, for example, what your monthly budget will be? Related, how much do you feel you can invest in your new community? In your financial planning, remember to include homeowners’ fees, and any up-front move-in fees you may encounter. 

Questions about Lifestyle

This one is all about living, about what you like or love to do. In your new neighborhood, what activities and amenities would improve your quality of life? If you enjoy cultural and artistic events, you’ll probably want to be close to a major center. While you can interact with people who have the same interests, priorities, or beliefs from just about anywhere, would you like to live in that kind of area?

Questions about Restrictions

Check the regulations for any potential community you are considering. Are there any restrictions that would negatively impact you or your preferred lifestyle? For example:

  • Are pets permitted?
  • Will your grandchildren or adult children be able to stay with you for extended periods?
  • Are you allowed to rent your property, even temporarily?

Questions about Tax and Financial Impact

Please, do your homework. Seek expert advice. Doing so may save you thousands of dollars and improve your retirement options. I mentioned tax and financial planning considerations above; you do need to know if any move will impact your tax liabilities. In this regard, it’s also worth checking if the community you’re considering is on solid financial footing. Many communities require a hefty up-front fee; should you decide to cancel, will that be refunded (with interest)?

Questions about Satisfaction

There’s an old saying … ‘Try it before you buy it.’ Also, caveat emptor or let the buyer beware. In this respect, find out if the community offers a trial stay or a short-term lease. Many collectives will manage your property for you (for a fee, of course). What if things are not being managed to your standards? What are your options? Here are three more things you can do to ensure or at least help guarantee your satisfaction in your new community:

  1. Read all the fine print!
  2. Review minutes from the homeowner association meetings or the management board.
  3. Speak with your potential neighbors.

In summary, there is a lot to know, and to consider, before you sign on the dotted line. Please feel free to give me a call for practical guidance or help with a specific issue. I will also help with the valuation of your existing home, its sale, and ensuring you get comfortably moved into your new adult lifestyle home.

Filed Under: Lifestyle Tagged With: Active Adult Community, Questions, SRES, Tips

Contact Lorri

Keller Williams Capital Partners Realtor
100 E. Wilson Bridge Rd.,
Worthington, OH 43085
Call: 614.496.4012
Contact Lorri
Lorri Molnar realitor MSL
100 E Wilson Bridge Rd, Worthington, OH 43085
Tel: 614.496.4012

Follow Us on FacebookFollow Us on Google+Follow Us on LinkedInFollow Us on FlickrFollow Us on YouTube

Copyright © 2022 · AgentPress Pro Theme on Genesis Framework · WordPress · Log in

Each office independently owned & operated.
© 2002-2018 Lorri Molnar | Design & Content by CyberCletch LLC