Quote:
Originally Posted by Jazuela
You don't have to be 55+ to buy a house. You only have to be 19 or older. But if you want to LIVE in the house, at least one person living in that house has to be 55 or older.
In other words, young adults can buy homes in their own name, and have their grandparents live there - for example.
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To be considered a 55+ retirement community, at least 80% of the homes have to be owned/occupied by at least one person 55 years old or older. Up to 20% can be owned/occupied by individuals who are not yet 55; but a person must be 19 or older to live here full time. I believe there are two villages here that are "family villages, but I do not know for sure.
I have not seen statistics that show the percentage of homes presently occupied by 55+.
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