Five Tips for Selecting the Perfect Lifestyle Community

Thinking of buying a home or unit in a lifestyle community or high-rise? You're on the cusp of discovering why these residential havens are rapidly gaining popularity in the housing market. Lifestyle communities offer an attractive blend of spacious floorplans, alluring amenities and services, engaging social events, and special interest clubs, catering to a diverse demographic of potential homeowners.

With a wide array of lifestyle communities available, selecting the ideal one might seem daunting. Developers are constantly introducing new communities to satisfy growing interest from homebuyers. To help prospective buyers navigate their options, here are five essential tips for finding a lifestyle community that aligns with your needs and expectations.

1. Consider the Costs

Financial considerations are often the primary factor for many buyers. It's crucial to look beyond the initial price tag of a home or unit. Assess all living expenses associated with the community. Creating a budget can help determine if the long-term costs fit within your means. Remember to account for HOA dues or condo fees, property taxes, utilities, insurance, and daily expenses like groceries and transportation.

2. Consider the Location

The importance of location cannot be overstated. Whether you prefer a vibrant downtown setting, a serene beachfront, or proximity to family and friends, location plays a key role in your decision. Convenience matters too, so think about accessibility to public transport, supermarkets, healthcare facilities, and schools. If location is your top priority, it may guide your entire search. However, if you're open to different areas, consider other factors to ensure the best overall choice.

3. Consider the Type of Community

Whether you're dreaming of a high-rise apartment, a tranquil retirement setting, or a multi-age community, there's something for everyone. Many modern buildings offer updated designs to accommodate varying needs. Active adult communities, for instance, might feature one-story floorplans and accessible layouts to cater to older residents.

4. Consider the Amenities

Reflect on the lifestyle you enjoy or aspire to achieve. Lifestyle communities are rich in options, offering amenities and activities tailored to the interests of residents. From clubhouses, pools, and fitness centers to yoga, security patrols, and artistic pursuits, there's something for everyone. Additionally, dedicated staff often work with residents to organize events and programs that enhance community living. With thorough research, you can find a community that offers the perfect mix of services and leisure activities.

5. Consider the Management

The effectiveness of community management is vital. Whether self-managed or in the hands of professionals, the community should be financially stable, well-maintained, and efficiently run. Check if the Board collaborates effectively and, if professionally managed, whether the company has relevant experience with lifestyle communities.