How to Buy Property in a Retirement Community

As you get older, you may find that living in your home becomes more difficult. You may no longer have the energy to keep up with housework, yard work and home repairs, and may even have trouble climbing stairs. Although it's hard to leave your home, moving to a retirement community can not only make your life easier, but more enjoyable. You will also have some peace of mind knowing that help is available when you need it.


  1. Image titled Buy Property in a Retirement Community Step 1
    Decide where you want to live. You may want to stay in the local area so you can continue to see friends and family, particularly grandchildren. However, you should remember that as a retiree, you have the freedom to live anywhere you want. You could move out of the city, to a warmer climate or near the ocean.
  2. Image titled Buy Property in a Retirement Community Step 2
    Consider what your future needs might be. Although you may not need any assistance now, that may change as you get older. Make sure the communities you're considering offer a variety of services. Look for help with daily activities and medical care. If you're married, consider the health of your spouse, as well.
  3. Image titled Buy Property in a Retirement Community Step 3
    Tour a number of retirement communities, looking at the upkeep of the buildings and common areas, study the schedule of activities, meet the staff and residents and walk through the homes. Most retirement communities are designed to encourage residents to be active. Decide where you'd be most comfortable.
  4. Image titled Buy Property in a Retirement Community Step 4
    Get financial advice. Not only must you pay for the home; generally, there is also a buy-in fee and a variety of other fees, including homeowners association dues and the cost of extra services. You must allow for these fees to increase over time, and for you to pay for more services as when you need them.
  5. Image titled Buy Property in a Retirement Community Step 5
    Read your contract carefully so you'll know what's expected of you as a member of the community. Know what would happen if you decide to leave, or transition from independent living to assisted living or full-time nursing care.


  • Although there are several types of retirement communities, the best choice for most is a continuing care facility that allows residents to move from independent living to assisted living to full-time nursing care within the same community.


  • Most retirement communities have minimum age requirements for one or both spouses, and the age requirement may increase as the current residents age. Most are also adult-only communities, so seniors who are raising children would not be able to move in.
  • Don't wait too long. You want to move to a retirement community while you're still healthy enough to enjoy it. If you wait, independent living may no longer be an option for you. You may be forced to sell your home when the real estate market isn't favorable, and you may not be able to handle packing and unpacking. You may even lose your ability to make your own decisions.

Article Info

Categories: Buying Property