Some Aging Baby Boomers Buying Larger Homes Instead of Retirement Condos

According to a recent article in the Miami Herald, a fast-growing segment of the 55-and-older housing market consists of big single-family homes, rather than condo or townhouse developments aimed at those wanting to downsize the size of their homes.

;

Rather than decreasing their space, many retiring boomers may be looking only to decrease hassles, such as home maintenance, landscaping and garbage and snow removal.

;

The interest in age-restricted, single-family home developments marks quite a change from a decade ago, when such developments were all townhouses or condos, housing experts say.

;

Most age-restricted single-family home developments are structured in the same way as a condominium development: buyers own their houses, but the grounds are collectively owned by everyone in the community. Owners pay a monthly maintenance fee, which covers all landscaping and snow removal. Most communities also have amenities not offered in standard subdivisions, such as clubhouses, pools, recreation facilities and organized social events.