There are different retirement plans in Las Vegas that are designed only for elders aged 55 and older. One of these plans is the Las Vegas 55+ communities. However, if the plan isn’t designed properly, then it will come with disadvantages, despite its benefits. And this is what we will be discussing today. Is it worth it?
Benefits of joining Vegas 55+ communities
There are many benefits when you invest in a retirement home in an exclusive village that shelters elderly people. Below are the benefits of joining 55+ communities in Las Vegas:
- 55+ population – Members of Vegas 55+ communities have experienced retirement, and they’re sharing the same dream – to find a home where they’ll grow old in. Besides that, what’s great about this plan is the fact that the communities also create a great place that the elderly will love to settle down in for as long as they live.
- Elders can find solace in 55+ communities – Most retirement communities in Las Vegas are well-gated. They’re far from traffic and crowded streets. In addition to that, when it comes to the size of the houses, most of them only allow two heads as occupants. This keeps the noise at a minimum. This means that less and tear of the property will also be reduced.
- Guaranteed security and safety in 55+ communities – Because most of the 55+ communities in Las Vegas are well-gated, security measures are heightened consistently. The elderly people don’t have the strength and the maximum ability to defend themselves, so it’s only right for the communities to be equipped with advanced security features. These include proper lighting, smoke detectors, and fire alarms.
- Pets are allowed in these communities – In most Las Vegas 55+ communities, pets are allowed, but with limitations. These limitations include the type and the number of pets you want to keep.
- The amenities are ideal for the elders – The communities have a lot of great amenities that are perfect for the elders – ranging from educational courses and exercise lessons to recreational activities that are all programmed to be held in the village. This will greatly help them stay active. This will also help them spend their retirement years healthy.
- The location is ultimately perfect – The 55+ communities are situated near a college campus or urban areas where elders can still access quality healthcare and other important things without the need to travel far. It isn’t rare for these communities to be placed near schools or malls since the elders’ convenience and welfare should be prioritized.
- The weather is desirable – The weather in Vegas 55+ communities is one of the reasons why the elderly will love this place. The areas have the best climate for elders, and this serves as a selling point.
- They cover the maintenance works – Elders no longer need to worry about maintenance works. Yes, that’s right – the homeowner’s association will be covering for this. And while not all Vegas+ communities are the same, most of them already include the outdoor housekeeping issues in the fees.
Disadvantages of joining Vegas 55+ communities
Although there are a lot of advantages when you invest in a retirement home, it also has its disadvantages. Before you sign the deal, it’s important to know these downsides:
- Investment limitations – Not all neighborhoods have communities where such homes are typically placed. Therefore, there are only particular investment property types that are available within the community, usually in the form of single-family homes or condominiums.
- Monthly dues – While not all 55+ communities in Las Vegas impose monthly dues, a lot of them do require a fixed fee monthly, and this varies depending on the community. This will most likely take care of the housekeeping, utility works, and yard maintenance. Whether you’re planning to live in the property or if you’re planning to put the property for lease, you’ll still need to pay the monthly fee. However, this may be something you can negotiate with the renter.
- Target market – When you invest in a Vegas 55+ community, it can restrict your market. Because the occupants are strictly required to be at least 55 years old, you won’t be able to easily sell it or put it for rent in the future. Fortunately, in other communities, elders who need their guardians will be permitted as long as they are at least 18 years old. However, this will rely upon the bylaws of the retirement community.
How to find a perfect home in Vegas 55+ communities
You probably think it’s better to find a home in a 55+ community in Las Vegas, but it’s always wiser if you entrust this job to an expert realtor. And when doing so, always choose one that has personally witnessed the development of growth in most Las Vegas 55+ communities.
To help you choose a realtor you can trust, here are some factors you need to consider:
When choosing a realtor that you should partner with, always choose the one who is well-versed in new home construction and resale. Also, make sure that the realtor has years of experience in working with buyers and sellers in Las Vegas communities. The right realtor knows how to listen to the community and acknowledges that the preferences of the clients are one of the most important factors to consider.
Feedback and referrals
You’ll never go wrong when you trust a realtor who has established his reputation in spending years in the field. If you don’t know where to start, then you can head on to Google or any social media page. Check who is topping the list of reputable and trustworthy realtors in Las Vegas.
If you have provided your preferences, your realtor should use them as their guide so they can gather their options for you. If you play golf or tennis, or whatever you’re into, you should communicate it to the realtor. Doing this will help you ensure that you’re investing in the right 55+ home.