Realtors Reveal 12 Reasons Retirees Regret Moving to 55+ Communities

Many people approaching retirement assume that relocating to a 55+ community will be cheaper than staying put — and that they'll enjoy thriving communities full of amenities, but that's not always the case.

In fact, real estate experts tell FinanceBuzz that many retirees, unfortunately, find themselves regretting their choice to move to a 55+ community.

To avoid making money mistakes in retirement, consider these 12 common reasons people tend to regret moving to 55+ communities, according to the experts.

Ben Mizes, licensed agent and CEO of Clever Real Estate, says that these communities can feel restrictive after a while, and those looking for a stress-free retirement should carefully consider their priorities.

"The appeal is obvious: low maintenance, social events, and age-appropriate amenities. But the sacrifice of autonomy is overlooked," he says, adding many buyers overlook things like HOA restrictions and strict guest policies that can start to feel stifling.

Retirement communities are often touted as lively neighborhoods with plenty of amenities and events to bring residents together, but many fall short, Mizes says.

"People imagine an 'active adult' lifestyle, but depending on the community, it might feel more isolating than invigorating," he says.

The big difference between a 55+ community and senior living facilities is access to healthcare. Should medical needs shift, retirees might find themselves needing to move again, Randy Carver, founder and president of Carver Financial Services, warns.

"Most age-restricted or 'independent living' communities focus on housing and amenities, not personal or medical care," he says. "If your needs increase, you'll have to hire outside help or move again."

Carver also warns that people are sometimes surprised by the extra costs of living in a retirement community, like HOA or condo dues, club fees, and special assessments.

"Be sure to ask up front about all the added fees to expect and request that they be itemized in print," Carver says. "Some amenities are mandatory; don't mistake them as 'free.'"

Contrary to popular belief, it might actually be cheaper to make necessary adjustments to your current home than to move into a retirement community. Plus, staying in place means you'll stay close to friends, family, doctors, and other support systems, Carver stresses.

"Modifying their existing homes might be cheaper than moving to a care setting," he says. "...While some targeted upgrades are often needed to a current home (updated step entry, wider door frames, etc.), these can still be cost-effective relative to facility care."

Brady Bell, realtor and founder of Bellhaven Real Estate, warns that people seeking out these communities because they think it'll improve their social lives can be quite disappointed.

Even though many include great amenities, "these community amenities are often severely underused," Bell says. "The other community members don't leave their homes … the people who move into these communities expecting a thriving life are often the ones who regret it."

Rich Kaul, a real estate investor and co-owner of 702 Cash Buyers, warns that homes in 55+ communities don't always hold strong resale value, especially in slower markets like today's.

"Unlike traditional housing, these homes can sometimes be harder to sell quickly because of the age restrictions," Kaul says.

There are pros and cons to living in an HOA community, and a limited ability to do as you wish on your own property can certainly be a con for some.

"Relocating to a 55+ community provides low-maintenance living, amenities, and built-in social opportunities," Kaul says. "But you trade some freedom, and costs can add up over time."

There is a common assumption that relocating to a 55+ community is more cost-effective than staying put, particularly for retirees who are downsizing and moving into smaller homes.

However, Kaul warns that this is not always the case. "In popular retirement states like Nevada or Arizona, they can actually carry a premium compared to standard neighborhoods," he says.

Because homes in certain age-restricted communities can be harder to resell, buyers might feel stuck if it's not what they hoped it would be.

"I encourage retirees to look at resale data like how long homes typically sit on the market, so they have a realistic view of liquidity if they need to move again," Kaul says.

Living in an HOA 55+ community can affect flexibility in several ways. Jacob Naig from We Buy Houses in Des Moines, a real estate agent and investor, says you need to continue paying even if HOA fees go up and you're unhappy with the rules.

"There can be rules about guests, pets, or home modifications, which may feel restrictive to people who want flexibility in their later years," Naig says.

Retirees considering relocating to an age-restricted community should seriously consider whether the perceived perks are worth disrupting what might be long-established routines.

"Emotional ties to where you live, the neighborhood you love, and your routines are often underestimated in these decisions," Naig warns. "But they play a large role in long-term happiness."

For many people nearing the end of their careers, relocating — whether it's to a cheaper area, to be closer to family, or simply to downsize — is often part of the retirement plan.

Moving to a 55+ community is certainly the right move for some, but it's important to truly understand the cost, social environment, and HOA restrictions before making that commitment.