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The post Know what will be required of you first appeared on ERA Central Realty - Realtor Rob Cooks.
]]>Some 55 and over communities have rules in place restricting who can live in the property. For example, you may find out that both a husband and wife need to be at least fifty-five years old. Some retirement communities do not allow kids to be residing in the property at all. Often people ask if they can purchase into a 55 and over community if one of the spouses is less than 55. These are questions that should be researched before buying.
You may be wondering how it is lawful for a community to be able to discriminate based on age. There is an exception in the fair housing act called The “Housing For Older Persons Exemption.” You can read more about this on HUD.GOV website.
Make sure you are OK with the answers before you buy. Additionally here are some tips for dealing with a homeowners association which you may eventually need.
The post Know what will be required of you first appeared on ERA Central Realty - Realtor Rob Cooks.
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