Thursday, April 4, 2013

When You Retire You Have Housing Choices

The majority of new Jensen residents have owned a single family detached home on their own land prior to purchasing in a Jensen community.  A single family home is the overwhelming housing choice for most all Americans.  They don’t call it the “American Dream” for nothing!

When the time comes to find a more accommodating home and invigorating lifestyle there are several alternatives to consider.  Most people still want to live in a single family home; they just want it to have lower maintenance (inside and out) and a floor plan that fits their current needs.  Also, updates and options they never had and a home that meets their current budget.

The key is learning about new housing choices.  These include certain rules, restrictions and/or covenants from condominium documents, homeowners associations or land lease community rules.  Prospective buyers are usually eager for assurance that they will live in a pleasant neighborhood and that their investment will be protected.  They should also be sure that they can live with the community policies and requirements.  Good rules like fences make good neighbors.  But if you like to garden and the condo board does not permit any alterations to the exterior plantings, you should reconsider whether or not the place is for you.

When you live in a single family home on your own lot you are generally the master of your own domain (even though municipal or count regulations prevail).  In a condominium or a community with a homeowners association you will need to ask for the approval of the condo board.  It could be run by a professional property manager but is more likely run or at least overseen by a board made up of your neighbors (once the developer has turned the organization and responsibilities over and stepped away from the project).  If the group has the right experience and skills, they can objectively deal with the issues at hand in a businesslike manner.  Without the right knowledge and capabilities, a board can be subject to poor practices, financial difficulties maintaining the property and inconsistencies that come with peer pressure and internal politics.

In a land lease community the management of the community and enforcement of community requirements is typically completed by the original developer who has a vested interest and takes pride in their investment.  If the community has been sold to a new investor, they usually have the property management experience that will ensure a professionally run community for you to enjoy.  Most notably, you are not at the whim of other homeowners in the community and have no obligation to self-manage where you live like in a condominium.

As you look for a new home, be sure to educate yourself on the pros and cons of each housing choice so you can make the right decision with full knowledge and understanding.  Your next move should make your life more enjoyable than your current home and provide more freedom from ownership responsibilities.
At Jensen communities®, we are glad and eager to help you.
Kris Jensen III

Get in on the Good Life!®


1 comment:

  1. Thanks for sharing the article on housing and yes, you need a permanent house after the retirement. But, I think you should get a permanent home in the early stage and go through the homeowners association act and get home after getting your documents verified.