Why Condos Are Great for Retirement
If you are nearing your retirement date, there are many different types of decisions that you are going to have to make.
One of the most important decisions to make is where you are going to live and what kind of home you are going to live in. 9 out of 10 people over the age of 65 (according to a recent AARP Study) want to continue living in their homes, and live as independently as possible.
(Myrtle Beach Photo: Darrin via Flickr, CC-BY-SA 2.5)
It’s a trend called aging in place.
One of the easiest places to pursue that type of retirement living is by living in a condo. So what is a condominium, and why are they great for retirement?
What is a Condo?
Condos come in all shapes, sizes, and styles. Think of a condo as a type of ownership arrangement rather than a specific type of building or complex.
There are high-rise condos, townhomes, semi-detached condos, and sometimes even detached homes that are in fact condos.
Ultimately, the definition of a condominium is that you have full ownership over the individual unit that is your home, but there is shared access to common areas and assets.
Why Condos Are Great for Retirement
Many retirees find that they want to focus on their passions, travel, and spending time with family, rather than financing and managing home upgrades and maintenance. That’s one of the many benefits of living in a condominium as a retiree.
If you’re looking for retirement housing options in Florida, South Carolina (consider Myrtle Beach condos for sale or top communities in Myrtle Beach to retire to), or anywhere for that matter, here are some key features to consider:
Typically lower purchase price
Condos typically cost an average of $10,000 less than regular housing; you don’t own the home, so you don’t have to pay for the land that the condo is built on. In fact, you’ll never have to worry about exterior maintenance or landscape care either – saving you a lot of time and energy.
Amenities
Condos, especially high-end ones, often come with a large range of amenities. This can be a gym, pools, sports complexes, shared gardens, shopping centers, and more. It brings a lot of your life to you, which makes the day-to-day of living independently as a retiree that much easier.
Social support
Many condos offer a community experience because you are living closely to your neighbors. Not only do you see them in the hallways, pathways, elevators and other public areas, but many condo management companies orchestrate community events such as barbecues, viewing parties for major sports and television events, and more.
One thing to keep an eye on is to ask about the average age of residents in the condo complex you are thinking of buying in, to make sure that there will be people around your age living around you.
Maintenance and accessibility
The final things to consider are all about how easy it can be to live in a condo. First off, major maintenance to the building overall will be handled by the company that owns the building.
Because condos are quite often modern, accessibility is very easy. You will be able to get in and out of your unit easily, as well as in and out of your neighborhood as a whole.
You don’t have to retire to Myrtle Beach to find lots of housing and condominium options to suit you in retirement.
**This article is for general informational purposes only. 50+ World does endorse these providers, nor does it receive remuneration from them.**
