The Hidden Costs of Active Adult Communities
By Steve Eckhardt, Tampa, St Petersburg, and Sarasota Luxury Broker
(Cornerstone Properties International)
Active adult communities are built around a powerful promise: simplified living, beautiful amenities, and a social environment designed for the next chapter of life. In Florida especially, these neighborhoods are marketed as low-maintenance, resort-style living with like-minded neighbors and a built-in calendar of activities.For many homeowners, that promise is real. But there are financial structures behind these communities that deserve careful attention before purchasing.I am currently helping a homeowner sell in a 55+ community after they were hit with a special assessment totaling more than $20,000. When the builder completed the project and turned control of the association over to the residents, the homeowners were required to collectively purchase the community amenities from th...
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