In the past few years I've had the pleasure of helping a handful of clients buy and sell age-restricted housing, which typically requires at least one member of the household to be 55+ years old. My clients and I have been shocked at the dearth of available housing. So it's no surprise that this type of housing is at a premium.
A condo I recently sold in popular Centennial at Riverwalk sold in 2 days for full price. Following the contract, I received several calls from agents whose buyers have been looking for months and not finding much in the affordable range (under $300,000). This particular 2b/2b unit with 2 underground parking spaces went for $185,000. Similarly sized duplexes and single family homes in communities such as Heritage Eagle Bend, E470 and Gartrell, can run into the low $300s.
As with almost any desirable housing in the Denver metro area, age-restricted housing is at a premium. As baby boomers age, it's sure to become even more competitive. Families need to plan ahead if possible, and be ready to act quickly to secure good housing. Several of my clients have purchased their retirement home and rented it for several years to quality long-time senior renters. It's a good way to get in on better pricing and have someone pay the bills until you, your parents or loved ones are ready to downsize. And if you think age-restricted means old, think again. Many of these communities have vibrant activities such as recreation centers, happy hours, and clubs as diverse as golf, bocce ball, dancing and travel.
If you're thinking of making a move toward peace of mind in your retirement years, contact me for more information.
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