Category: Retirement

What Factors Should I Consider When Choosing a Community in Which to Retire?

Are you considering retirement? If so, congratulations! Retirement is certainly a life milestone to celebrate, and one that is often the start of a wonderful new chapter. Whether you’re interested in traveling, exploring new hobbies, or simply spending extra time with the people you love, there is so much to look forward to.

Two things that also often go hand-in-hand are retirement and relocation. Often, when people make the decision to retire, they also make the decision to move to a new area – whether it’s to be closer to family, to enjoy better weather or different amenities, or simply to explore and experience a part of the country they’ve always wanted to live in.

Whatever your relocation needs and desires, at GayRealEstate.com, we have years of experience connecting retirees with excellent LGBTQ-friendly agents in communities across the country as they seek to find the perfect place and home in which to retire. Here are a few tips we’ve learned along the way about choosing a retirement community that will be a wonderful fit as you begin this next exciting chapter:

  • Consider the cost of living: The truth of the matter is that the day-to-day cost of living can vary quite widely in communities across the country. This is not only true with respect to the housing prices themselves, but also for basic living expenses – expenses for things like food, gas, grocery bills, and utilities. It is always wise to spend some time researching a community in which you might be interested and to consider those day-to-day costs carefully. Thinking through these factors before choosing a community in which to retire is always a wise choice.
  • Take a look at taxes: Along with considering cost of living generally, it is also important to consider the tax laws in the locations that you are considering. For example, some states have income tax, while others don’t. In those states, however, property and sales taxes may be higher. Of course, it might also be true of some communities that the prices on everyday purchases are higher, but the taxes are significantly lower, which could balance out the cost of living overall. Thinking through the tax consequences ahead of time can pay off significantly in the long run.
  • Compare your interests and goals with what the community offers: Spend some time really thinking through what you envision for your retirement lifestyle. Do you enjoy a more urban lifestyle, where you can easily walk to stores, restaurants, and other amenities, and a vibrant arts and culture scene where there are many activities to enjoy and participate in? Or do you prefer a more peaceful, less crowded environment, where you can enjoy the outdoors and have more room to yourself? If that’s the case, a more rural, small-town setting may be a better fit for you. Think through your interests, preferences, and retirement goals as you begin to research various communities and what they offer in order to make a choice that truly fits your needs.
  • Friends, family, and a support system: For many people, retirement is a chance to finally be closer to and spend more time with the people that they love. Moreover, as many people retire, they want the reassurance that they’ll have a support system and a community where they feel loved and connected as they age. While this may not be a necessity for everyone, if it is important to you, give it strong consideration as you make your choice about where to retire. Even if you don’t choose to retire in the same community as your family or your friends, you may consider choosing a community that is easy to travel to and from, or within a reasonable drive time to enable more frequent visits.

If you are ready to begin your search for the perfect retirement home in a community that you’ll love, we encourage you to contact us at GayRealEstate.com today. We are passionate about and committed to our mission of connecting LGBTQ buyers and sellers across the country with excellent agents who know their communities well, and can provide the highest quality professional representation for all of your needs. Call us today – and, congratulations on your retirement!

Wilton Manors – A Gay Village for Retirees

Wilton Manors in Florida is home to a very large LGBTQ population. Many of these individuals are retired individuals and couples who have moved to Florida to spend their golden years in peace. The city has the second highest percentage of LGBTQ residents to total population (behind Provincetown, MA), with 140 out of every 1,000 identifying as a member of the community. This 14% is much, much higher than the national average of 1.1% of the U.S. population, so if you want to spend time with other LGBTQ people, Wilton Manors is definitely one of the places to go!

The History of Wilton Manors

Wilton Manors – A Gay Village for RetireesWhile it may not play as big a part in the struggle for equality as gay villages in New York, Chicago, or Los Angeles, Wilton Manors still has an interesting history. It’s a somewhat young city—it was incorporated in 1947. Despite that, it quickly became a haven for LGBTQ individuals. As more and more LGBTQ people moved to Wilton Manors, related organizations came into the area. This led to the funding of the Wilton Manors Pride Center, a branch of the Stonewall National Museum, and the World AIDS Museum and Educational Center. The city’s police department features LGBTQ officers and a liaison officer, plus a number of elected city officials, including at least one mayor, have identified as members of the community.

Senior Living

In addition to the condos, apartments, and single-family homes that retirees can purchase in Wilton Manors, the city is also home to an LGBTQ senior housing complex. This development features more than 50 housing units, all of which are priced for the limited income retirees often find themselves with. They also offer extra features to help those in need, including assistance getting to doctor’s appointments and other locations.

A Great Location

While Wilton Manors isn’t a huge city—it has a regular population of a little over 11,000, although that number greatly increases during vacation season—it is located near Fort Lauderdale and Oakland Park. Both of these cities are also home to a number of LGBTQ individuals and families, plus they offer many different shopping and dining options. The city is also considered a part of the Miami Metro Area, and thanks to several major highways, it’s easy to get to travel to many of the events Miami hosts.

Pricing in Wilton Manors

Wilton Manors does have a wide range of housing prices. Those who qualify for living in the senior living center may find that their housing costs fit nicely into their budgets. Those who are looking to purchase a home, though, may end up spending $500,000 or more depending on where in Wilton Manors they want to be located. A gay or lesbian real estate official can assist you with finding a home that fits your needs and your budget.

LGBT and Retiring – Things to Consider

If you’re about to retire, you may be thinking about moving.  Many seniors move to retirement communities for a number of reasons.  Some love starting a new life in their golden years, while others find that the environment is much better for their health.  But moving for retirement has a few extra things you need to consider than if you were just moving due to a new job or other reason.  Here are a few things you should ask your gay or lesbian real estate agent about before you make the move.

The Community Attitude isn’t Everything

When Considering Retirement, There Are Some Unique Considerations Members of the LGBT Community Often Have to MakeMany people ask about how the community views its LGBT neighbors and if they will be accepted.  That’s definitely something you need to ask about no matter what your age, but when you’re retiring, you also have to consider that you may eventually be in need of assisted living or nursing home facilities.  Are there assisted living facilities in the city that are LGBT-friendly?  Learn about the cost and the benefits of these facilities so that if you do ever need to move to one, you’ll know which ones in the area are more likely to be more open-minded.

Healthcare

Finding an LGBT-friendly doctor is another concern that all LGBT people share, but it’s especially important as you get older since you may need to see a healthcare professional more often.  In most cases, people move and then find healthcare, but for seniors, it may be a good idea to research the doctors in the area before you make your final choice, especially if you have a rare or chronic illness.

Consider an LGBT Retirement Community

More and more LGBT retirement communities are popping up thanks to the success of places such as RainbowVision and Triangle Square.  RainbowVision is located in Santa Fe, a city already popular with retirees, while Triangle Square is located in Los Angeles.  While both communities are marketed mostly to LGBT seniors, they are open to anyone.  RainbowVision, in fact, has about a 3:1 LGBT to straight ratio.  There are no other restrictions in place, either—there’s no age requirement, for example.  RainbowVision even includes a small number of assisted living apartments in addition to condos.

Is there an Active LGBT Senior Community?

Many seniors, especially those who move to an area away from their family members, become somewhat isolated.  If you’re afraid that could happen to you simply because you’re new to the area, look to see if there’s an active LGBT senior community.  An LGBT retirement community will obviously have this, but many other retirement communities will have groups that are quite welcoming.

The Best Places to Retire for LGBT People

Looking for a great place to retire?  There are a number of communities where LGBT people can spend their golden years among like-minded people.  Some of them are among the top retirement destinations in the country, too.  You might be surprised to learn that they’re not necessarily the places you’d expect, either.  Here are some of the most popular places for LGBT people to retire, based off of the numbers from the 2012 U.S. Census.

Consider These Places for Your RetirementLooking to retire to a huge city where you’ll never be more than a few minutes away from just about anything?  You might expect Florida, one of the most popular retirement states, to top the list, but Tampa actually ties for second place beside Phoenix, Arizona.  Instead, if you’re looking to retire to a city with more than 250,000 people, you’ll find the most gay and lesbian retirees move to Atlanta, Georgia.  Many chose these three cities because of the good cost of living and the decent retirement tax.  The convenience of being able to walk almost anywhere, plus the many different services available for senior citizens makes them ideal for older individuals.

Some people don’t want to live in huge cities, but they do want the convenience that comes with living in a rather large area.  If you want to live in a city with 100,000 people or more, you might want to retire to Fort Lauderdale.  While it may get fairly crowded and noisy around spring break, the city is fairly quiet the rest of the year.  If Fort Lauderdale isn’t to your liking, two other Florida cities made this list: St. Petersburg and Orlando.  Both have great cost of living benefits and amazing weather.  If Florida is a bit too tropical for you, Paradise and Enterprise, Nevada, are good options.  Located near Las Vegas, these two cities have a dry heat that you may be able to tolerate a lot better than the dampness of Florida.

But not everyone wants to live in a city.  How about a smaller urban area with fewer than 100,000 people?  Once again, Florida shines here.  Wilton Manors, known as one of the best places for the LGBT community, is at the top of this list.  Oakland Park and Miami Shores are also great places to retire to.  Then there’s Rehoboth Beach in Delaware for those who want to retire to the Northeast.  Avondale Estates in Georgia is another great retirement destination.

So where are you going to retire?  Even if it’s years away, you can always start dreaming about retirement!

6 Questions Every LGBT Person Should Ask Before Buying a Condominium

A condominium, commonly referred to as a condo, is a large building that is divided into single family units that are sold individually. Ownership includes shared community property such as the parking lot, hallway, elevator and the central heat and air conditioning unit.

condominiumBefore purchasing a condo, you should do some research so that you understand exactly what you are buying before signing on the dotted line. The laws of condo ownership are not exactly the same as they are for buying a typical single family home. Following are 6 questions every LGBT person should ask before buying a condominium.

1. What are the condo association rules and regulations? Before purchasing a condo, you should ask for copies of the condo’s bylaws and read that document. It outlines the rules and regulations that govern owners and tenants and how the association operates. There may be some rules that could impact the lifestyle you choose to lead that would be important for you to know before purchasing the condo.

Condo associations may enact rules and regulations as they deem appropriate within the confines of the law. Each state has its own statutes on what may or may not be included in those documents. For example, California Civil Code §§ 1350 – 1378, the Davis Stirling Act, dictates the authority that an association can exercise and what can and cannot be included in an association’s bylaws and rules and regulations. Because of this, you may want to review your state’s laws before looking for a condo to purchase. It will give you an idea of whether owning a condo is the best choice for you.

2. What fee does the condo association charge? Most associations charge monthly fees that are applied to the upkeep of the common property including the land surrounding the condo, the exterior of the building and any amenities such as swimming pools or banquet rooms. For example, snow and ice removal, lawn maintenance, siding and roofing. You will also want to find out if any increases are imminent and, if so, how much.

3. What maintenance does the monthly condo association fee cover? For items not covered in the fees, you will want to find out what how often special assessments are initiated and for what type of repairs. A special assessment is money that an association needs to pay for a project that is not included in the annual budget. For example, the septic system becomes damaged and must be replaced. A special assessment may be initiated to pay for the replacement. The assessment may take the form of a lump sum payment from all members of the association or an additional amount added to your monthly fees. This information will impact the amount of money that you will need to budget each month for your condo expenses.

4. Ask to look at the minutes from the condo association board meetings. Reviewing the minutes will let you know what the members are complaining about, how the association responds to those complaints, how well the association is taking care of the building, and whether the seller has been truthful about any upcoming projects that may cost you money in the form of a special assessment if you buy the condo. Not all associations will provide their minutes and most state laws do not dictate that they have to.

Even if you are allowed to read the associations minutes, you should also talk to some of the neighbors in the condo. Ask them how they like living there, what problems they are having and what they think about the condo association. Talking to the neighbors will also give you an idea of whether they are the type of people that an LGBT person or family would be comfortable living next to.

5. What does the condo association insurance cover? You will need to purchase a separate insurance policy to cover items not included in the association’s insurance, such as the inside of your condo and its contents. Some association bylaws dictate what minimum type of insurance coverage owners must purchase.

6. How much money does the condo association have? This is an important aspect because if the association has no reserve funds, they cannot afford to pay for repairs, and that cost may be assessed to the condo owners. If the condo has a bad roof and the paint is peeling and the condo has no funds in its coffers to repair the building, it is a major red flag that there are problems within the association or with its members.

The best way to purchase a condo is to hire an LGBT real estate agent who knows the neighborhood that the condo you are interested in is located. An experienced agent will also know the ins and outs involved in purchasing a condo and will guide you through the process while looking out for your best interests.

5 Keys to Buying Rental Property with Friends

Buying rental property with your friends is a business deal and, as with any business deal, there are issues that should be considered before taking that step. Below are 5 keys to buying rental property with friends.

images (1)1. Be sure that your friends can be relied on. Entering into a partnership with friends who are not dependable or do not follow through with promises may not be your best choice for purchasing a rental home with.

2. Discuss how much you can collectively afford to spend on a rental property and what each friend’s contribution will be. You should also decide how you will hold ownership of the rental property. Generally, when friends buy property together, they hold ownership by tenancy in common. This means that each owner has an equal right to the property and can sell his interest without the other owner’s approval. Any number of individuals may own different percentages in one piece of property under this type of ownership. For example, you own 25 percent, a friend owns 25 percent and another friend owns 50 percent. Generally, the percentage of ownership is decided by how much each person has invested to purchase the property.

3. Create a written partnership agreement outlining the details of ownership and how future transfers of ownership will be handled. For example, if one friend decides to sell, the other partners have the first right of refusal. The agreement should also spell out the financial obligations of each friend and what will happen if one friend stops meeting his financial obligations. Other details to consider include who will be responsible for ensuring rent is collected and that the mortgage, insurance, taxes and maintenance are paid for? Who will be responsible for maintenance and repairs? It would also be wise to include a procedure for resolving disputes. For example, by unanimous vote or by a majority of the vote.

4. Consider forming a limited liability company, LLC. Purchasing rental property as an entity rather than an individual can help protect the owner’s personal assets. Each friend will become a shareholder, but you will not be personally liable in the event that the owners, you and your friends, of the rental property are sued. LLCs have the ability under law to conduct business including purchasing, owning and conveying real estate, the power to make contracts, and to borrow money when necessary.

5. Make sure the rental home is a good investment. An LGBT real estate agent will know and can help you find an investment property and assist you with the purchasing procedure.

The advice contained in this article is for informational purposes only. It would be wise to seek the advice of a real estate attorney to assist you with the legal aspects of buying rental property with friends.

Top 5 Most Affordable LGBT Beach Communities

Following are Gayrealestate.com’s picks for the top 5 most affordable LGBT beach communities in 2014.

imagesLong Neck, Delaware ~ Long Neck is located along the Atlantic Ocean within easy driving distance of Rohoboth, a popular LGBT vacation destination during the summer months. Long Neck features miles of coastline with sandy beaches. According to City-Data, the cost of living in Long Neck is lower than the national average with a rating 80.0. the United States average is 100.

Same sex marriage became legal in Delaware on July 1, 2013. Title 13, c 1 §§ 101-129 of the Delaware Code. The state also has a law that goes into effect November 1, 2014 prohibiting employer discrimination based on sexual orientation or gender identity. Title 19, c. 7 §§ 710-719A of the Delaware Code.

downloadWestport, Washington ~ Westport Washington features 18 miles of ocean beaches. It is located by Port Chehalis peninsula on the Pacific Ocean. According to City-Data, the cost of living was lower than the national average with a rating of 88.4. Westport is one of the most affordable beach towns in the state of Washington.

Same sex marriage became legal on December 6, 2012. RCW § 26.04.010.

download (1)Bolivar Peninsula, Texas ~ Bolivar Peninsula lies along the Gulf of Mexico. The city is actually a barrier island rather than a peninsula. It is accessed by crossing a bridge from the mainland. According to City-Data, the cost of living was lower than the national average with a rating of 83.9.

Same sex marriage is not legal in the state of Texas. That states same sex marriage ban was ruled unconstitutional by a federal district court in the case of DeLeon v. Perry. The Texas attorney general appealed that decision on July 29, 2014 to the 5th Circuit Court of Appeals and it is currently pending.

images (1)Cape Charles, Virginia ~ Cape Charles is located along the eastern shore of Virginia on Chesapeake Bay. It features a public beach on the bay. According to City-Data, the cost of living was lower than the national average with a rating of 89.1.

Same sex marriage is not legal in the state of Virginia. On July 28, 2014, a federal appeals court, the 4th Circuit, held in Bostic v. Schaefer, III, that Virginia’s same sex marriage ban was unconstitutional. The ruling will not take effect until August 18, 2014 to allow the state time to decide whether to appeal the decision.

images (2)St. Augustine, Florida ~ St. Augustine is located in Northeast Florida on the Atlantic Ocean. It features miles of coastline and numerous sandy beaches. According to City-Data, the cost of living was lower than the national average with a rating of 91.7.

Same sex marriage is not legal in the state of Florida. Several lawsuits are pending in courts challenging the same sex marriage ban. Two different Florida state courts ruled in July, 2014 that the ban was unconstitutional. Huntsman v. Heavilin and Pareto v. Ruvin. The state attorney general has appealed those rulings to the 3rd Circuit Court of Appeals.

All of the cities listed above are LGBT friendly. While not all them recognize same sex marriage or have other laws in place to protect those of the LGBT community, they are affordable beach communities to live in. Looking at the result of lawsuits in other jurisdictions, it seems to be only a matter of time before same sex marriage will become legal in states that do not currently recognize them.

Considering a beach home? The gay realtors at GayRealEstate.com understand the unique real estate needs of our community and will work with you side-by-side to find the perfect home, negotiate the best deal, and write a contract the represents your best interests. No cost or obligation ~ 100% confidential.

West Hartford Gay Realtor Daniel | Coldwell Banker Residential Brokerage

Purchasing or selling a home is often the largest financial transaction you will make. Whether you are a buyer or a seller, you need the very best in professional representation. Listening to your needs and desires, providing you with regular updates and being available when you need assistance are just a few of the benefits of working with a professional full-time Realtor. Repeat clients and regular referrals are testament to the high level of service I provide. I look forward to working with you.

Daniel - CTProfessional/Personal Distinctions:

Member National Association of REALTORS Member Greater Hartford Association of Realtors Member of West Hartford Chamber of Commerce Certified Relocation Specialist Certified Affinity Specialist Consistent Multi-Million Dollar Producer

Specialties:

First Time Home Buyers Relocation – Incoming and Outgoing Single Family Residential, Multi-Family

Investors Target Retirement Hot Spots

Some investors appear to be snatching up housing in hot spots that they believe will fuel future returns from retiree clients. RealtyTrac recently released a report showing the top cities attracting real estate investment are also cities in which at least a third of the population is aged 54 or older.

“These popular retirement cities will very likely be an area of growth in the housing market over the next 15 years as Baby Boomers retire in greater numbers,” says  Daren Blomquist, vice president of RealtyTrac. “The baby boomer generation started retiring in 2011, a trend that will continue at least through 2029, ensuring plenty of demand for both rentals and owner-occupant purchases in these markets for the foreseeable future.”

RealtyTrac based its rankings of hottest retirement investment real estate markets on cities that have posted the highest annual percent change in home prices as of May.

  • Dunnellon, Florida
    • Retirement age percentage: 38%
    • Median sales price: $76,941
    • Annual percent change in price: 31.42%
  • Naples, Fla.
    • Retirement age percentage: 44%
    • Median sales price: $267,473
    • Annual percent change in price: 26.79%
  • Hot Springs Village, Ark.
    • Retirement age percentage: 58%
    • Median sales price: $170,000
    • Annual percent change in price: 25.93%
  • Douglassville, Pa.
    • Retirement age percentage: 59%
    • Median sales price: $252,000
    • Annual percent change in price: 22.33%
  • Sun City, Ariz.
    • Retirement age percentage: 73%
    • Median sales price: $113,275
    • Annual percent change in price: 19.90%
  • North Fort Myers, Fla.
    • Retirement age percentage: 46%
    • Median sales price: $84,500
    • Annual percent change in price: 19.01%
  • Rancho Mirage, Calif.
    • Retirement age percentage: 46%
    • Median sales price: $430,000
    • Annual percent change in price: 16.77%
  • Punta Gorda, Fla.
    • Retirement age percentage: 45%
    • Median sales price: $138,938
    • Annual percent change in price: 16.71%

    The author of this article is: realtormag.realtor.org

    See the original post at: http://realtormag.realtor.org/daily-news/2013/07/08/investors-target-retirement-hot-spots