There are particular retirement amenities in Las Vegas that are specially made for elders aged 55 and up. One of these is the availability of Las Vegas 55+ communities. However, if the program is not properly designed, despite its many pros, it may also come with some disadvantages. That’s what we will tackle in this article.
Joining Vegas 55+ Communities – The Pros
There are a lot of upsides of investing in a retirement home in a village exclusively sheltering people your age:
- 55+ Population: Members of 55+ communities have all experienced retirement and are sharing the same dream that is to find a home they will grow more white hairs in. But aside from that, what is great about 55+ community programs are the fact that they are also good at creating a great place that the aged will love to settle down in for the rest of their lives.
- The weather is desirable: The weather is one of the advantages or considerations in investing in 55+ community because a good 55+ community realtor will always make sure to choose a land that has the best climate for the elders. It serves as a selling point and makes deciding to live in 55 plus communities easier.
- The location is strategically identified: 55+ communities are mostly located near a college campus or an urban area so that elders can still get access to quality healthcare and other essentials without having to travel far. It is not rare for Vegas 55+ communities to be placed near malls or schools as the elders’ welfare and convenience should be prioritized the most.
- The maintenance works are covered: Elders will no longer have to worry about the maintenance works as the homeowner’s association will have it covered. Although not all Vegas 55+ communities are the same, most already include the outdoor housekeeping concerns in their fees.
- The amenities are indeed for the seniors: Vegas 55+ communities have several great amenities for the elders ranging from educational courses and exercise classes to recreational activities all programmed to be held in the village. This will help them stay active and spend their retirement years healthily.
- There is solace in Vegas 55+ communities: The majority of retirement communities in Las Vegas are well gated and are far from crowded and traffic streets. Moreover, when it comes to the size of the homes, most only allow two heads as occupants. Thus, the noise is kept at a minimum. That means property less and tear will also be reduced.
- Safety and security in 55+ communities are guaranteed: The majority of the Las Vegas 55+ communities are placed inside a well-gated and guarded subdivision where security measures are consistently heightened. Acknowledging the fact that elders no longer have that maximum ability to defend themselves, trusted 55+ communities are equipped with advanced security features that include smoke detectors, proper lighting, and fire alarms.
- Pets are allowed: In most Las Vegas 55+ communities, pets are allowed but with limitations such as the type and number of pets you plan to shelter.
The Cons
Although ideally, there are a lot of advantages when investing in a retirement home, it also comes with a few disadvantages. Before you sign any deal, it pays to be aware of these downsides:
- Monthly Dues: Although not all 55+ communities in Las Vegas impose monthly dues, most of them require a fixed monthly fee that will mostly vary depending on the community. This will most likely cover yard maintenance, housekeeping, and utility work. Regardless of whether you are planning to reside in the property or you are planning to put it for lease, you still have to pay the fee every month. This is something you can negotiate with your renter though.
- Investment Limitations: There are not always retirement communities in every neighborhood as there are certain areas where such homes are typically placed. Moreover, there are only particular investment property types available within the actual community, usually in the form of a condominium or single-family home.
- Target Market: Investing in a Las Vegas 55+ community restricts your market if you are planning to sell it or put it for rent in the future since occupants strictly have to be at least 55 years old. Fortunately, in some 55+ communities, elders who will need guardians will be allowed to be accompanied by an adult, i.e. 18 years old or older but this will still depend on the retirement community’s particular bylaws.
Finding Your Perfect Home in a Las Vegas 55+ Community
Although it will feel like it is feasible to find the best home in a 55+ community in Las Vegas on your own, since the amount involved is no joke, it would always be wiser and smarter to entrust the job to a seasoned Las Vegas realtor – one that has personally witnessed the development of growth in most 55+ areas.
Here are factors to consider in choosing a realtor to hire:
Experience
When choosing a realtor to partner with, always go for one who is versed in new home construction and resale and has years of experience transacting with sellers and buyers in Las Vegas’s 55+ communities. The right one knows how to thoroughly listen to the community and acknowledges that the lifestyle preferences of his clients are one of the vital factors to consider.
Your Preference
Once you have provided your preferences, your realtor will use them as a guide to gather options for you. If you play tennis or golf or you are into swimming or whatever it is that you are fond of doing, you will want to communicate it to your realtor to ensure investing in the right 55+ home.
Feedback and Referrals
You will never go wrong with trusting a realtor who has already established his reputation after spending years in the field. If you do not know where to begin in your hunt, you can head on to Google or social media and check who is topping the list of trustworthy and reputable realtors in Las Vegas.
