Buying a home in an age-restricted community is much different from buying a normal single-family home. Knowing what to expect can help you prepare for the purchase process and what comes after. If you're a home buyer, here's what you need to know.
Buyers Must Budget for HOA Fees
Most age-restricted communities have homeowner's associations (HOA). Buyers who are looking to buy in one of these communities must budget for the HOA fees, which can go up depending on the property amenities and the kind of work that needs to be done.
There is Likely an Application Process
The HOA may have an application…