The Most Affordable Florida Communities for Active Adults
Category: Active adult communities
November 14, 2023 — Affordable Florida communities – active communities that offer great value at a reasonable price – are the quest for many retirees. The problem is how to determine which communities offer the best value for the money. This article will explain what to look for in an affordable Florida community, and how to find one. Then we will provide a sample list of developments that offer high value at a reasonable cost.
Tips for finding the most affordable retirement, 55+, or active communities in Florida.
Here are some of the basics that will help you find the best value in an active or 55+ community:
- Define what you are looking for
- Look for testimonials from friends or online
- Use a real estate agent with the right experience
- Visit multiple communities
- Avoid equity memberships
- Review contracts and fee structures
- Check out the community budget and financial health
Define what you want in an affordable Florida community. For starters, don’t pay for something you don’t intend to use. We are always shocked by how many non-golfers live in communities with golf courses. Those facilities are expensive to maintain, so that cost is covered by your HOA fees (inclusive), a la carte charges, or club memberships. An la carte plan works out better if you don’t play much, but an inclusive membership is the better choice if you go out for a lot of rounds. The important thing is you need to know up front what you are getting into. The same approach can apply to other amenities like marinas or fancy clubhouses.
Get those testimonials. If you have friends who live in a community somewhere ask them what they think. Did they look at other places that might be good options? Look online for Facebook groups, etc. where these communities are discussed.
Use a real estate agent with the right experience. An agent who knows the communities in an area can be very helpful. They can tell you about pitfalls and advantages, and can sense good value when they see it. On the other hand, someone who mainly deals with families with children might not have the insight into 55+ communities.
Visit multiple communities. Don’t stop at just one community, visit several. Try to talk with residents and see how they feel about the costs of living there vs. the value received.
Equity clubs. An equity club is where you pay a (normally) hefty fee for the privilege of joining. On top of that you pay dues, (plus sometimes) assessments, and food minimums. Sometimes part of the fee is refundable, sometimes not. In boom times these fees can be really high ($100,000 or much more in some high end Florida communities), but in a recession they might revert to almost nothing. Generally speaking, equity clubs are not affordable.
Review contracts and fee structures. Knowing what you are getting into is essential. For example in some communities there are CDD fees on top of HOA fees. Those might be one time, or ongoing. What are the fees for using facilities? Ask your real estate agent to get these for your inspection.
Check out the communities budgets and financial health. Look over the latest financial statements and check for consistency. Have there been a lot of assessments? Large increases in HOA fees? How adequate are the reserves, and how do they compare to what is in the latest reserve study? Most communities keep their HOA fees and cost structures close to the vest, although at some point they have to disclose them.
Here are 7 affordable active communities in Florida, places that we think offer good value for the money. If you know of others, please let us know.
Pelican Sound – Estero, FL. This very large community south of Fort Myers has 27 holes of golf and extensive tennis and pickleball facilities. Home values are high, but not out of reach, and come with bundled membership to all facilities. It also has its own beach on the Gulf.
Mariner Sands – Stuart, FL. With 36 interesting holes of golf and 9 Har-Tru tennis courts, the amenities in this established community are first rate. HOA fees are reasonable. A 3 bedroom home was recently listed here for $410,00.
Seven Lakes Golf and Tennis Club – Ft. Myers, FL. An older community on Route 41, it offers mostly 3-4 story condo buildings with some single story homes too. The 18 hole executive course is a bargain and popular. Homes are relatively inexpensive and so are the HOA fees. Some homes are available in the $100s.
SummerGlen – Ocala, FL. Voted three times as one of the Top 100 Best Master-Planned Communities in America. SummerGlen is affordable. Recreational opportunities include an 18 hole championship golf course and health-club quality fitness center. Homes for sale recently listed from mid $200’s.
Summerloch Green – Cassleberry, FL. This RV / Manufactured home community offers home ownership at some of the lowest prices in Florida. Recent listings ranged from $20,000 into the $200’s, dependent on size and condition. Amenities include pools, pickleball, and tennis, along with social activities. This is a ground lease community, and those fees start at $575/month.
Kings Point – Sun City Center, FL. The community is made up of over 5,250 homes, 27 holes of golf, 6 indoor and outdoor pools, tennis courts, and hundreds of unique social clubs, groups, organizations and classes. Single family homes and attached villas are available with prices starting below $100,000. Kings Point is close to Tampa Bay and the white sands of Sarasota
On Top of the World Clearwater – Clearwater, FL. A very large and established 55+ community, it was built between 1960-1993. Made up of approximately 95 condominium buildings and close to 5,000 units, residents enjoy over 100 clubs, organizations, classes, events, and outdoor activities, along with both an 18-hole golf course and a 9-hole course.
Bottom line – There are affordable communities in Florida. In general, more established communities are lower priced and offer better value. They might not have the glitz of their newer competition, but they have the infrastructure in terms of amenities and management that make them a more affordable alternative. RV Resort and Manufactured home communities offer the lowest prices. But you have to factor in the ground lease fees that they normally come with into the equation. In a ground lease community you can own your home, but not the ground underneath it.
Comments? Is where you live an affordable option? Please share your experiences in the Comments section below.
For further reading:
Florida’s Most Affordable Communities
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