Retirees Want More Affordable Senior Housing in Small Towns

by | Jul 10, 2012

A new category of senior housing may arise as some boomers reject segregated, resort-like senior living communities in favor of remaining in familiar settings right in their hometowns, writes CNBC.

Such clusters of age-restricted housing integrated into thriving communities are an affordable, desirable housing choice if you don’t picture yourself in a big resort-like senior community.

Instead of golf and a fancy dining room, you have a one-story house on a small, low-maintenance lot that you can “lock and leave,” to travel, see family or just enjoy dinner and a movie nearby.

Typically called adult neighborhoods or 55-plus communities, these senior housing tracts tend to be hidden gems. Developers instead prefer to advertise their large, pricey senior campuses.

How do these homes compare to other retirement housing options? Real estate experts say that unadorned 55-plus communities will generally cost more than if you stay in the family house and renovate. But when you decide to move closer to children, grandchildren or friends, modest adult neighborhoods can be your smartest financial option.

While it can be difficult to locate these kinds of senior neighborhoods, the article notes, it’s possible that as more boomers gravitate toward in-town living and spread the word to their friends, town planners and real estate developers may notice and begin promoting the trend as a new category of senior housing.

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