A Sampling of Age Restricted Communities in Maryland
With more than 30 percent of the United States population being over the age of 55, the popularity of age-restricted communities doesn’t seem to be waning anytime soon. If you’re considering these neighborhoods, what should you know about the lifestyle?
What About Fair Housing?
First, an age-restricted community usually means one person over the age of 55 must live in the home, and often, no one under 18 may live there. There are also more restrictive developments reserved for people over the age of 62 where all residents would be required to meet the age limit. While this may seem contrary to the Fair Housing Act, which prohibits discrimination based on age among other categories, according to the Department of Housing and Urban Development, communities may be exempt if three qualifications are met:
At least one resident of the unit is over 55 in 80 percent of the units.
The community publishes and adheres to its intent to operate as a 55+ community.
The management verifies the ages of residents in accordance with HUD requirements.
So, a married couple with one spouse over 55 would qualify, as would a parent over 55 living with a child over 18. Grandchildren under 18 are usually allowed to visit, but the amount of time they can stay would be stipulated in the community rules. There are also exceptions for the inheritance of a property by an individual younger than 55.
“The Fair Housing Act prohibits discrimination because of race, color, national origin, religion, sex, disability or familial status (families with children under the age of 18; pregnant women and people in the process of obtaining custody of children under 18, or persons with written permission of the parent or legal guardian). However, it contains a limited exemption from the familial status prohibitions for housing for older persons.”
Ownership vs. Residence
Note the language around age restrictions apply to residence, not ownership. An investor under the age of 55 could purchase a home in an active adult community and rent it only to tenants over 55. Seems like an interesting investment niche, doesn’t it?
930 Astern Way, Heritage Harbour, Annapolis
Active Adults in Maryland
While most of us think of the large developments like The Villages in Florida, or Sun City in Arizona, as senior living paradise (or maybe a cleverly disguised frat party), Maryland has plenty of age-restricted communities of its own, including one of the originals, Leisure World, built in the 1960’s in Montgomery County.
Heritage Harbour
In Anne Arundel County, near Annapolis, the most well-known is Heritage Harbour. Located on a peninsula jutting out between the South River and Broad Creek, Heritage Harbour is the size of a small city and encompasses a wide variety of housing, from one-bedroom garden apartments, to penthouse high-rises, to townhomes, to detached single-family homes. Prices range from the low $200,000s through the mid $600,000s.
Built from the mid-1970’s through 2008, the Heritage Harbour community clubs, amenities, and governance is well established and enjoys a reliable reputation. New owners pay a flat fee to join the community, and then pay any HOA or condo fees related to their specific neighborhood monthly.
Four Seasons at Kent Island
Four Seasons by K. Hovnanian
On Kent Island in Queen Anne’s county, K. Hovnanian is currently building a new Four Seasons development, modeled after other Four Seasons the developer has constructed throughout the United States. The location on Maryland’s Eastern Shore is a beautiful retirement setting where the Chesapeake Bay is a highlight of daily life. While the developer has elaborate plans for the amenities, and a new construction home means limited maintenance for quite a few years, it will take a while for the community to be established and operating robustly.
55+ Communities Abound
Throughout Maryland, there is an abundance of choices in active adult neighborhoods. They can be as simple as a stand-alone apartment building or as elaborate as multi-community neighborhoods that resemble adult Disneyland. If you need help finding the right fit, I’d be happy to show you around.