There are many advantages to living in a 55 and over community in Florida however, you really need to know the rules and regulations.  One of the questions I’m always asked is who can live in the 55 and over communities and are there exceptions to the age restriction especially when it comes to children.   In this blog post I am going to give you 6 possibilities of who can live there even if they are not 55 and over which……. should give you some great ideas if you are planning to live in one of these communities. Plus I will give you an extra bonus on can your children who are not 55 and over purchase a house for you in these communities. Understanding the rules ahead of time will make the difference in being happy in your new community and not disappointed by rules you were not aware of   

First, let me give you a brief background 55 and over communities were created before the fair housing act was passed in 1968 which created a new era of community living.  Did you know that by 2050, 80 million Americans will reach the age of 65?  The 55 and over communities were allowed to remain even after the fair housing act was passed and they are based on the 80/20 rule which is:

At least 80% of the residents are 55 and over that means there must be one person in each property who is 55 and over.  This leaves the other 20% of the community’s units available for people of any age, creating the 80/20 rule.  The appeal of these communities is to spend your retirement years with neighbors of comparable age who have hopefully similar interests and the communities provide activities and a little more peace and quiet than other neighborhoods. 

In addition to the 80/20 rule and the government regulations, each community will sometimes have secondary guidelines which will allow for some of these examples I’m about to give you however you need to make sure you understand what a particular community has for rules and what is in their by-laws.  Now, I recorded this video “The 5 problems with 55 and over communities” which you may want to watch for other rules you may not be aware of.

Let’s discuss the 6 possibilities of who can live in a 55 and over community…

1. Obviously Someone 55 and over needs to live in the property remember the 80/20 rule

2. A spouse or partner who is younger

As long as one of you is 55 and over then the other person can be younger.  Some communities have a rule the other person must be 40 years of age or older so again, check the rules.  Hey if you are the lucky one to have a much younger partner, way to go

A spouse or partner may continue to live there if they are younger should the one who is 55 and older pass but again, please check before purchasing.

3. A caregiver who is 18 years or older

now this isn’t always the case so have your Realtor help you but this is a possibility.  However exceptions may be made to have assistance should you need a caregiver.

4. A disabled child who is over 18.  

Many have now extended this benefit to disabled children, there are still a few who haven’t relaxed their rules but its becoming more and more common.

Typically for up to 4 weeks a year.  Remember you must be present, they can’t come down while you are away because they must be supervised

I didn’t forget about the question, can your children who are not 55 and over purchase a home for you?

The answer is yes and typically they can rent it back to you.  However, be careful, I want to give you a big red flag to look at: check the rental rules. Some communities have a waiting period to rent the unit and it can be anywhere from 1-2 years in which an owner must live and occupy the unit before renting.  If that is the case then you would need to be on the deed to show you as an owner and that’s a question you need to discuss with your children in advance.

Now that you have a better idea of possible exceptions in the 55 and over communities, watch this video to provide you with even more information.