Moving to a Retirement Community?

Upon retiring, you might consider moving into an Active Adult Community -- the MECCA of retirement communities -- for the amenities and social activities they offer. If you do, you'll pay a hefty premium of $30,000 to $40,000 more for the same style/square footage home just for the privilege of living in that type of community.

I live in an Active Adult Community and just got home from an exhausting meeting over on-going homeowner issues, so, here's some important issues you should consider before buying:

1. What is the builder's warranty policy?

2. Will be there be an on-site customer service rep to help you resolve problems with your home?

3. How long will it take for the amenities to be put in -- clubhouse, pool, tennis courts and golf course?

4. Has the builder posted a completion bond to ensure the amenities will be completed?

5. How long will the builder subsidize the monthly clubhouse dues?
6. If you pay for a view (golf course, mountain, lake) GET IT IN WRITING that your view is protected and will not be taken away from you by high grass or other homes being built.

7. Make them give you a copy of the covenants upfront (usually at least a foot high and written in a foreign language - legalese)!

Let's face it, for many of us retirees, that home probably will be our FRP (Final Resting Place), so, those are but a few of the many questions you should get answered by the builder before you sign on the dotted line. For additional info, go to http://www.wheretoretire.com/?source=google where you can request a free copy of the magazine.

Relocation - Cost of Living

Have you got the bug to move after you retire? If so, there’s several dollar factors to consider other than just the cost of the actual move, which will range from $1800 for an in-state move to more than $10,000 for a cross country move. For a quick cost comparison between cities, check out Sperling’s Best Places at www.bestplaces.net/COL It’s free and easy to use. After plugging in your 'Current' and 'Comparison' cities, the site will give you an easy to read chart with comparisons for food, housing, utilities, transportation, health and miscellaneous. Another great source for info on cost of living and retirement communities is 'WHERE TO LIVE' magazine at www.wheretoretire.com

Two factors you should consider before relocating are state income taxes and property taxes as the senior citizen exemption for each varies from state to state. Several states fully tax pension income. I live in Colorado which allows for state income tax purposes a reduction in pension income of the smaller of your income or $20,000 if you are at least 55. The reduction increases at age 65. In Adams County there are significant reductions in property taxes when I reach 65 and meet certain regulatory requirements. When I moved to my Active Adult Community, I used Amazing Moves in Denver - http://www.amazingmoves.com/ Their prices were in line with other movers, but it was their efficient, courteous workers that impressed me the most and actually made the move a very pleasant experience.