Condos for Retirees - Active Adults 55+
Condo living has become ever so popular for retirees in this country.
More and more retirees are choosing this type lifestyle so that they can focus their time on traveling, hobbies and spending more time with friends and family.
There is also an increasingly demand for condos as second homes which allows owners the option of placing the condo on a rental program to create additional income of which helps offset the cost of ownership. Many condos and resorts provide on site management, maintenance, and round the clock security.
Condos are now popping up all over the country from beach towns and well established resorts, to urban cities that are updating their downtowns with new condos as well as the converting historic building and hotels into condos.
Some of the top destinations for primary residence and second homes are:
The Gulf Coast of Alabama
Fort Lauderdale, Florida
The Great Smoky Mountains of Tennessee
The Gulf Coast has been attracting retirees, second homes buyers and investors for many years. Ocean front condos on the beach are primarily vacation rentals and second homes and are priced from $750,000 to as much as $1.8 million fro premier Penthouse Units.
Developers now are developing Condos along the intercostals waterways of which are much more affordable with prices here starting about $300,000.
It is estimated that 30 to 40% of these condos will be second homes.
Tempe, Arizona which is located in Phoenix has been developing a Scenic Town Lake Area with a mixture of recreation, condo living spaces and businesses. Most of the new condo projects are within walking distance of light-rail stations. Condo prices have almost doubled since 2000 according to the Arizona State University, Arizona Real Estate Center.
Fort Lauderdale, FL has recently transformed itself as a high end resort area and has become very attractive to retirees. Thousands of new residential condos have been completed in the past few years. Many apartment buildings have been converted into condos as well. Condo Living suits many residences with its maintenance free lifestyle giving owners more time to pursue the real reason they moved to Fort Lauderdale
Kennebunk, Maine with its scenery and affordable housing is a much sought after retirement community for empty nesters seeking a coastal Maine setting. Kennebunk has experienced a condo boom the past few years. Retirees are relocating from all parts of the country. However many spend their winters elsewhere.
Reno, Nevada is a very popular place for retirees. Retirees are attracted to the area due to all the beauty of the mountain peaks along with its close proximity to Lake Tahoe. The recent demand for condos has been inspired by the rise in single-family home prices. Land availability is also driving this demand. The surrounding mountains limit how far the city can expand. More than 8000 condos have been proposed or are now under construction. Reno's downtown has also been undergoing an extreme make over with the conversion of vacant casinos and hotels
For the price of a single-family home you can purchase a condo with luxury amenities.
The Great Smoky Mountains of TN attracts many buyers with its breathtaking Mountain views and it distinct four seasons. The area is also known for having very low property tax rates as well as no state income tax. Sevierville, Pigeon Forge and Gatlinburg all have experienced an explosion in condos the past 2 years. This is expecting to increase even more in the future. The area has more than 8 condo projects consisting of and average of 100 units and more in each complex scheduled to be developed
Condo Developers are providing a way to accommodate the large number of tourist that come to the area. Many of which eventually come back to purchase that second home for their own personal enjoyment. Investors as well as retirees are what are driving all this activity.