Quote:
Originally Posted by BrianL99
31% of the Population in FL is under 25 Years old ... unlikely home buyers.
61% are ages 25 - 74. Home buying age and potential buyers.
19% are ages 55 - 74.
Your available population (market) for age restricted housing, is 1/3 of all available buyers.
All things being equal, as you reduce your available market, prices decrease.
This is true in most areas, but I know of a specific example in Trinity, about 20 miles North of Tampa. Side by side, comparable sub-divisions. 1 age restricted, one not. The "premium" to buy in the non-age restricted sub-division is about 15%.
|
Ok, you have made a good case and now I will explain how I see things differently. The main real estate principle everywhere is location, location, location. Tampa is a fast-growing large metropolitan area. A location ONLY 20 miles from DOWNTOWN Tampa would be a WONDERFUL LOCATION for a working family or singles that are about 30 years old. As a retirement LOCATION it is NOT too WONDERFUL - because of excess traffic and high crime. And probably ONLY one pool and maybe a pitch and putt golf course and many fewer clubs than The Villages and fewer card game activities. So the comparison of those 2 communities is UNEQUAL. So, no wonder they have to reduce the home prices by 15% in that situation of BAD location, location, etc for the retired types.
Now in The Villages, the situation is different for many reasons, but one is that it is located like a self-contained oasis from the hectic and crime-laden metro areas. That is its main selling CARD. We all know that retirees can get more HOME for their BUCK in nearby non-Village communities than inside the boundaries of The Villages. So, The Villagers are getting LESS home for MORE bucks. Yet, they do it for the (supposedly) crime-free environment and the more extensive activities and overall lifestyle.
.........Basically, all things are NOT equal in my 2 examples and I would further stipulate that they are RARELY or never EQUAL............there ate too many variables in various gated communities.