Page 22 - Amarillo Senior Link Magazine Summer 2019- Online Magazine

HONORING SENIORS

ADVANTAGES OF LIVING IN A

55+ Gated Manufactured

HOME COMMUNITY

by Chris Brown
As Baby Boomers enter retirement,
many are drawn to the advantages of saves on property
living in a 55+ Gated Manufactured taxes, as compared
Home Community. These to a “site built”
communities offer the opportunity home. Homeowners
to own an affordable home, within who live in 55+
a gated community, alongside communities do not
similarly situated people. This pay Real Property
setting fosters a sense of community taxes since they
and allows residents to enjoy the don’t own the land;
golden years they have earned in instead they pay
style. By moving to an active adult Personal Property
community, retirees also enjoy the taxes, which often is
option of downsizing to a more about 1/3 of the cost all prospective homeowners to go
manageable home or stopping in comparison. Since the homes are through a criminal background
the perpetual cycle of renting typically smaller, it takes less energy check, which eliminates the chance of
altogether. living next to unscrupulous people.
to cool and heat the home, leading
The affordability of a 55+ Gated to lower monthly energy costs. And 55+ Gated Manufactured Home
Manufactured Home Community is because the homes are on smaller Communities offer their residents
one of the most attractive features for lots, waters bills will be lower as well. a variety of amenities, such as
many retirees. With the cost of living Appealing to many, gated entrances, exercise facilities
and the cost of health care rising manufactured homes allow and community centers that have
every year, many find themselves in a homeowners to downsize, while daily activities to keep residents safe,
difficult financial position. Instead of still living in a beautiful and well- healthy and active. Many times,
enjoying their retirement as they had built home. Homes within 55+ these communities also have other
hoped, some must keep working in communities typically range in amenities, such as libraries, on-site
order to provide for themselves. In size from 1000 sq. ft. to 1700 sq. health care and storm shelters.
fact, 30% of Baby Boomers have no ft., so there is less to clean and
retirement savings, yet two out of maintain. The corresponding lots are This is a great option for Baby
every five homes in the U.S. is owned typically smaller as well, which Boomers who are looking for
by a Baby Boomer. The cost of a means homeowners can spend less affordable and safe communities,
manufactured home is 50% less than time doing yard maintenance and with low maintenance homes, in
a comparable “site built” home, so by more time doing other things that order to enjoy their retirement
selling their previous home, retirees they enjoy. without depleting their savings.
can buy a manufactured home and These communities are also a
apply the difference in equity toward Being in a Gated Community gives great option for those looking to
their retirement savings. residents peace of mind, knowing downsize and wanting less property
that they live in a safe location maintenance. When thinking about
Another feature of most 55+ Gated without the high expenses of other retiring, Baby Boomers are seeking
Communities is that, although the traditional gated communities. Most affordability, safety and a social
residents own their homes there, 55+ Gated Communities also require life which may be found in a 55+
they lease the lots, which drastically Manufactured Home Community.

22 Amarillo Senior Link