The Kings Point Difference
Demand for homes located in retirement communities is on the rise. Behind the boom of course are baby boomers.
We know how overwhelming navigating the hot market for homes in retirement communities can be. Where will I find the best value? Where will I get the best medical care? What are the neighbors like?
We invite you take The Kings Point Challenge to compare how other active adult retirement communities stack up against everything Kings Point Suncoast has to offer. When choosing the ideal place to realize your retirement dreams, Forbes Magazine offers a few suggestions to help get it right:
- Acclimate before you relocate. Weather is key when you’re buying a retirement home. Consider renting
during the off season before you buy.
- Get to know the characters. Your fellow residents will be your new friends. They’ll have a bigger impact on your life than your bathroom fixtures or hardwood floors.
- Check out the medical care. Does the community provide medical services? If there are no on-site health care facilities, how far must you travel?
- Factor in local tax rates. Income, property and estate taxes are crucial considerations when choosing a location in which to invest. Find the recipe that suits you.
- Time your buy to get the best price. The best time to buy is just as the local high season is ending. Like the pricing but not quite ready to retire? Consider buying the home and renting to another retiree.
- Study the community financials. Carefully review the financial records of the homeowners’ association. Search county clerks’ offices for liens and foreclosures. Research community assessments through the association and the local property tax appraiser.
- Scope out the approval process. Learn about what’s required by consulting with your broker and current residents
- Explore “membership.” Full-service communities frequently offer specific club-membership structures. Study the requirements and options. Many communities also charge annual dues and a food and beverage minimum.
- Scrutinize the activity calendar. Spend some time figuring out if the community provides activities
you take seriously. In most cases, there are the staples—golf, tennis, swimming. But some of the most popular activities for retirees these days may sound foreign to you. Pickleball, for example, has become a craze for seniors who used to play tennis. Bocce, the Italian lawn-bowling game, is also hot, primarily because it can be played with a drink in one hand.
Research the restrictions. Rental and resale restrictions are common in gated communities and condominiums. Still, you may be startled by what some retirement communities disallow. Pets are just the tip of the iceberg. If you decide to buy in, be prepared to get involved.Click to take the 2017 Kings Point Challenge