Do I have to be 55+ live in a 55+?
So let’s break it down….
How old do you have to be to purchase a 55+?
The owner of the home needs to be 55+. The home owner’s association will need proof of age such as a license before you purchase the home. Age is not protected under the federal Fair Housing Act. Therefore, communities can set limits on who can buy or rent their properties based on how old they are.
Can my daughter or son live with me?
Yes as long as they are over the age of 19.
Can my grandchildren visit?
Yes. Yet a 55+ community can also set guidelines for how long underage visitors (such as grandchildren) can stay with community residents.
Many communities in our area, such as The Villas at Chancellor’s Glen understand that grandchildren are apart of your life so they even have designated pool hours for when grandchildren can swim. Salem Manor in Bensalem even offers a playground for grandchildren.
If you want to explore your 55+ options, call me. I am happy to help make community suggestions or even match you up with a community that meets your needs. Contact me at 215-757-7257 or TheSwainTeam@gmail.com
Coming soon at The Villas at Riverview
Pride of ownership shows in this 55+ home situated in The Villas at Riverview in Historic Bristol Borough! Step inside to the foyer and take notice of the hardwood floors that welcome you into the open living space with vaulted ceilings which can be used as living room and dining room. The sun drenched eat in kitchen has been completely remodeled with custom shudders in the breakfast nook, a newer ceramic tile floor, white cabinets, pantry, and tile backsplash. The master suite offers hardwood flooring, custom cellular honey comb blinds, and ample closet space. The master bathroom has been updated with a newer floor and newer vanity. The main hall bath too has been updated with a newer floor. The 2nd bedroom offers hardwood floors, a nice sized closet and custom cellular window treatments. The upstairs was finished in 2013 and hosts a half bathroom, and an extra living space which can be used as an office, or third bedroom. The laundry room and 2 -car garage complete this unit. The exterior of the home has been lushly landscaped to accent the newer paver patio (2014) with retractable automatic awning (2014). Perfect for enjoying your morning cup of coffee or your dinner. The home also features newer air conditioner (2014), newer windows (2015), and newer hot water heater (2015). No flood insurance needed. Sellers looking for a December settlement.
If you are interested in a preview showing, give me a call at 215-757-7257
This is Christina Swain with The Swain Team of Keller Williams. Here with your August monthly market update. We saw a slow down in the housing market in July. Most likely due to vacations. As August begins I am sure we will see a pick up as it is our last summer month and the kids will be headed back to school.
On July 31st the Federal Reserve lowered interest rates for the first time since 2008. Interest rates, which affect the cost of borrowing for mortgages and credit cards, are now set to hover between 2% and 2.25%.
When I checked in with one of my loan officers this morning she quoted me a rate of 3.375 for a conventional loan and 3.625 for a FHA loan.
So what does this mean for our local housing market you may ask?
It is a great time to buy.
And Land purchases and financing will be cheaper for homebuilders. And an increase in building will lead to the increase in the overall supply of homes.
We are seeing a slow down in the increase in home prices as they have risen faster than income levels.
Homebuilders also claim that mounting labor and supply costs have made it difficult to build single-family homes at affordable prices.
Yet , as I say every month it is a great time to sell. The demand is high because of the housing shortage. If you are thinking about selling in the future come out to our next home selling seminar at the Warwick Twp at 6:30pm on August 21st. We will review many important changes in the market as well as innovative marketing methods designed to net you the most with the least hassle.
For buyers rates have remained low! If you are thinking about purchasing in the future it does not hurt to start exploring your options now. It is important to educate yourself to the process. Come out to our next home buying seminar at the Warwick Twp at 6:30pm on August 22nd. We will review the different types of loans, the purchase process and tips on how to save the most.
If you are thinking about making a move contact me today at 215-757-7257 or TheSwainTeam@gmail.com .
Carol Swain. A senior real estate specialist with 25+ years of experience in the real estate industry.