What is going on with over 55 communities

smoochy · ‎03-10-2010

when dh and I retired to Florida in 2018, we planned to buy a stick built home in a non HOA neighborhood. We had a plan B, in case things didn't work out. Plan B was to move into a local over 55 development, very attractive place, nicely appointed. All manufactured homes on the smaller side. Figured if necessary, the sale of our Michigan home could buy one of their pre-owned manufactured houses outright, then just pay the $600 lot rent. We ended up not having to do that.

Yesterday we heard from someone that a large corporation bought the development. Lot rents are now $1400-$1800 a month. Plus your house payment if you have a mortgage. Oh and $400 a month for golf course maintenance. He said he and his wife can no longer afford to live there.

Our sweet neighbors sold their home a few months ago and moved in there. Little did they know.

Does this sound typical of such communities these days? Or is this an outlier. Really curious.

MICHIGAN STATE MOM

Kachina624 · ‎03-10-2010

I've heard of this happening in on large, nice mob8le home park in Albuquerque.

New Mexico☀️Land Of Enchantment

Zhills · ‎11-15-2011

I haven't seen anything about it on our local pages!

Most of the Parks go up each year but not like that!

In Florida the owners can get a raise just by asking for it!

Well, who wouldn't?

The demand for housing is suprisingly high! They are building homes as fast as possible around here!

geezerette · ‎03-16-2010

That happened to my parents in AZ years ago.

They lived in a 55+ community that was family owned and was great for years. Then the owners sold to a CA company and they hiked the lot rents and discontinued all perks. The new company didn't enforce the CCRs and the place started to get run down. Utility meters were put in each mobile (previously water was included with rent) and each unit had to pay their own. Many people had to leave because every year the rental fees kept going up.

From what I understand it was/is a very lucrative business to be in.

AnjalenaQVC · ‎07-21-2018

Moved:

This post has been removed by QVC because it is political

Tinkrbl44 · ‎08-23-2010

A lot of 55+ communities, as well as those with HOAs, evolve into something a lot different than when people first moved in.

I would avoid them.

Mz iMac · ‎07-26-2014

@smoochy wrote:

Does this sound typical of such communities these days? Or is this an outlier. Really curious.

@smoochy Not in my county. I cannot answer for others.

I live in a 55+ community 2 building highrise.

"Never argue with a fool. Onlookers may not be able to tell the difference."

kaydee50 · ‎02-07-2011

I know it's a more affordable option but I never understood buying a home that is on "rented" land. Some of my husband's relatives had to move from their manufactured home community for the same reasons as the OP.

DH and I lived in a Del Webb community and we owned the house and the land. Very nice and well run community. We left only because I did not like living in Las Vegas/Henderson, NV. Would not hesitate to move into another 55+ community but owning the land is a must.