55+ communities

O

OCtoSV

Active member
I find myself very interested in a couple of them:
1. Palmia in Mission Viejo. These are pretty nice homes with a great pool/gym/clubhouse complex. No golf so I would need to join a CC. Mix of attached and detached.

2. The Villages in San Jose. Par 72 + Par 3 courses, pools, gyms, rdiing stables, private hiking trails, restaurant, bistro, bar. All included in ~$400/mo HOA. Mix of attached and detached.

I like having the gym/pool at my front door, and golf and private dining are big draws. I also like chatting with old people, perhaps more so than people my age.

The other factor is these places typically trade at a discount to nearby SFRs so I can maximize the amount of cap gain I will reap.

My wife thinks I'm nuts, and we're not 55 yet but pretty soon.

Anyone else looking at these types of communities?
 
unless we're talking Kamakura ocean front with a membership at Hayama Kokusai CC I'll pass on overseas
 
OCtoSV said:
I find myself very interested in a couple of them:
1. Palmia in Mission Viejo. These are pretty nice homes with a great pool/gym/clubhouse complex. No golf so I would need to join a CC. Mix of attached and detached.

2. The Villages in San Jose. Par 72 + Par 3 courses, pools, gyms, rdiing stables, private hiking trails, restaurant, bistro, bar. All included in ~$400/mo HOA. Mix of attached and detached.

I like having the gym/pool at my front door, and golf and private dining are big draws. I also like chatting with old people, perhaps more so than people my age.

The other factor is these places typically trade at a discount to nearby SFRs so I can maximize the amount of cap gain I will reap.

My wife thinks I'm nuts, and we're not 55 yet but pretty soon.

Anyone else looking at these types of communities?
Click to expand...

I believe the HOA will require proof that one of the buyers is 55 or over and they don't allow the buyer to have small children so find out what the requirements/restrictions are before you make any offers.
 
OCtoSV said:
I find myself very interested in a couple of them:
1. Palmia in Mission Viejo. These are pretty nice homes with a great pool/gym/clubhouse complex. No golf so I would need to join a CC. Mix of attached and detached.

2. The Villages in San Jose. Par 72 + Par 3 courses, pools, gyms, rdiing stables, private hiking trails, restaurant, bistro, bar. All included in ~$400/mo HOA. Mix of attached and detached.

I like having the gym/pool at my front door, and golf and private dining are big draws. I also like chatting with old people, perhaps more so than people my age.

The other factor is these places typically trade at a discount to nearby SFRs so I can maximize the amount of cap gain I will reap.

My wife thinks I'm nuts, and we're not 55 yet but pretty soon.

Anyone else looking at these types of communities?
Click to expand...

We looked at a place in Rancho Mission Viejo and we did like the floorplan ALOT but we wouldn't be able to tolerate the traffic so we didn't pursue it.

We asked about my adult daughter staying with us and the sales lady told us there were very strict restrictions on age and how long they could stay and said for sure you WILL be found out cuz old people are nosy about everyone and everything and will be watching. LOL!
 
Casta Del Sol in MV isn't bad. Their course is a fun play. You can find single story homes in Coto - not 55+ but gated, and has a golf club of course.
 
OCtoSV said:
The other factor is these places typically trade at a discount to nearby SFRs so I can maximize the amount of cap gain I will reap.
Click to expand...

Retirement communities have some of the lowest % price gains.  There is ample supply due to the turnover of the elderly demographic, and a restricted buyer pool that puts a cap on demand.
 
Liar Loan said:
OCtoSV said:
The other factor is these places typically trade at a discount to nearby SFRs so I can maximize the amount of cap gain I will reap.
Click to expand...

Retirement communities have some of the lowest % price gains.  There is ample supply due to the turnover of the elderly demographic, and a restricted buyer pool that puts a cap on demand.
Click to expand...

totally - I was referring to the amount of my cap gain on the SV house that I would be able to keep vs funneling into a down payment on the new pad. Basically keep the mortgage debt equivalent to what I owe today with a purchase price of <=$1M would be the ideal scenario.
 
Soylent Green Is People said:
Casta Del Sol in MV isn't bad. Their course is a fun play. You can find single story homes in Coto - not 55+ but gated, and has a golf club of course.
Click to expand...

Coto is a steal - it has everything I would want at a relative discount. What I'm not into is nature, like rattlesnakes, in my back yard. I would need to find the right property/topographical/landscape situation, like middle of a street backing another street. There is a similar but smaller type of gated community here called Silver Creek, also up against the mountains, and the snake problem is pervasive.

Palmia + a membership at MVCC could be the call.
 
OCtoSV said:
Liar Loan said:
OCtoSV said:
The other factor is these places typically trade at a discount to nearby SFRs so I can maximize the amount of cap gain I will reap.
Click to expand...

Retirement communities have some of the lowest % price gains.  There is ample supply due to the turnover of the elderly demographic, and a restricted buyer pool that puts a cap on demand.
Click to expand...

totally - I was referring to the amount of my cap gain on the SV house that I would be able to keep vs funneling into a down payment on the new pad. Basically keep the mortgage debt equivalent to what I owe today with a purchase price of <=$1M would be the ideal scenario.
Click to expand...

Ah, that makes sense.  You want to keep your gains available for other uses.
 
My parents have lived in a few.  The first and biggest thing to know is virtually every one I?ve seen is intolerant of children. From the ones they?re in to the ones we repeatedly checked out looking for a perm residence.

The next biggest thing was there are essentially three kinds of communities.  The one they go to until they die or are committed to a SNF.  The geriatric swingers club with more viagra than meth in the Salton Sea.  And the look at me preen keeping up with the Jones?s communities.

The amount of unhealthy dysfunctional behavior was insane.  Take a keeping up with Kardashians, cross it with Real Housewives, multiply by ten and just make them old and wrinkly.

I know it?s jaded and snarky but I once thought of doing what you?re thinking, but the amount of pettiness, selfishness needs nastiness was an eye opener.
 
OCtoSV said:
unless we're talking Kamakura ocean front with a membership at Hayama Kokusai CC I'll pass on overseas
Click to expand...

You can possibly live overseas paying pennies of the dollar.
 
Liar Loan said:
OCtoSV said:
Liar Loan said:
OCtoSV said:
The other factor is these places typically trade at a discount to nearby SFRs so I can maximize the amount of cap gain I will reap.
Click to expand...

Retirement communities have some of the lowest % price gains.  There is ample supply due to the turnover of the elderly demographic, and a restricted buyer pool that puts a cap on demand.
Click to expand...
yes - accelerate retirement
totally - I was referring to the amount of my cap gain on the SV house that I would be able to keep vs funneling into a down payment on the new pad. Basically keep the mortgage debt equivalent to what I owe today with a purchase price of <=$1M would be the ideal scenario.
Click to expand...

Ah, that makes sense.  You want to keep your gains available for other uses.
Click to expand...
 
Soylent Green Is People said:
Casta Del Sol in MV isn't bad. Their course is a fun play. You can find single story homes in Coto - not 55+ but gated, and has a golf club of course.
Click to expand...

I thought about Casta but none of the properties I looked at have private walled backyards. Good pricepoints though.
 
eyephone said:
OCtoSV said:
unless we're talking Kamakura ocean front with a membership at Hayama Kokusai CC I'll pass on overseas
Click to expand...

You can possibly live overseas paying pennies of the dollar.
Click to expand...

not in a 1st world and nice location. The example I gave is Japan which would actually be cheaper than retiring in CA.
 
OCtoSV said:
eyephone said:
OCtoSV said:
unless we're talking Kamakura ocean front with a membership at Hayama Kokusai CC I'll pass on overseas
Click to expand...

You can possibly live overseas paying pennies of the dollar.
Click to expand...

not in a 1st world and nice location. The example I gave is Japan which would actually be cheaper than retiring in CA.
Click to expand...

By a beach with fresher food and cheap drinks. Who can say no?
 
nosuchreality said:
My parents have lived in a few.  The first and biggest thing to know is virtually every one I?ve seen is intolerant of children. From the ones they?re in to the ones we repeatedly checked out looking for a perm residence.

The next biggest thing was there are essentially three kinds of communities.  The one they go to until they die or are committed to a SNF.  The geriatric swingers club with more viagra than meth in the Salton Sea.  And the look at me preen keeping up with the Jones?s communities.

The amount of unhealthy dysfunctional behavior was insane.  Take a keeping up with Kardashians, cross it with Real Housewives, multiply by ten and just make them old and wrinkly.

I know it?s jaded and snarky but I once thought of doing what you?re thinking, but the amount of pettiness, selfishness needs nastiness was an eye opener.
Click to expand...
This sounds like the documentary I saw on the Villages in FL. Truly scary. I'm looking more for something like Bighorn in Palm Desert but not in the desert, and a notch lower on the pricing scale. Bighorn is insane - private steakhouse, regular restaurant/bar and their own Starbucks. I think the closest I can find is Santaluz in San Diego.
 
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