Baby Boomers Moving Downtown and Uptown

When I sold real estate in Dallas, Texas in the 1990's, my last project was a gorgeous high-rise loft building on the edge of downtown, with a fabulous view of the city lights.  Several of the buyers were people who had decided to shuck their suburban homes, their lawns, and their yard work, and move to this classy loft building.

In the 1990's, these people were considered urban pioneers.  They were moving into an area that had very few support services such as grocery stores, pharmacies and dry cleaners.  However, what they lost in convenient shopping at suburban strip malls they replaced with easy access to the city's top restaurants, bars, theaters, museums and cultural events.  Most of these high-rise buyers felt it was a fair trade-off.

Recently, both Realtor Magazine and USA Today wrote articles indicating that this trend has become even more common among Baby Boomers over the past decade and a half.  Many empty-nesters who are no longer worried about schools and playgrounds are deciding that they want to live closer to adult amenities.

While high-rise condos and luxury apartments in the downtown area of most cities can be more expensive than life in the suburbs, some Boomers with grown children have discovered that they can now afford to indulge this lifestyle.  After all, they no longer need to have three-bedrooms and a large amount of square footage.  In addition, hopefully they are no longer supporting their kids!

The trend towards downtown living can be seen in cities across the United States.  Here are sixteen cities that were specifically mentioned in the Realtor Magazine and USA Today articles:

Dallas, TX
Phoenix, AZ
Austin, TX
Nashville, TN
Portland, OR
New York, NY
Boston, MA
Philadelphia, PA
Pittsburgh, PA
Denver, CO
Sarasota, FL
Washington, D.C.
Boulder, CO
St. Petersburg, FL
Seattle, WA
Baltimore, MD

There are a few disadvantages to high rise living.  First, you have to carry your groceries and other packages much further.  You no longer have a garage situated right next to the door into your kitchen. Second, highrise living usually involves significant downsizing at the time you move into a condo or apartment.  Third, living downtown means you are more likely to experience issues with traffic when you need to go places that are not within walking distance.

As a result, I have also noticed over the years that some Baby Boomers prefer not to move to a high rise in the downtown area of the city and, instead, choose to live in uptown townhouses, since they are still convenient to all the restaurants, bars and theaters that the downtown area had to offer.

If you are looking for an opportunity to experience a new type of lifestyle, ask your Realtor to show you some examples of downtown highrises, lofts and uptown townhouses in your city.  You might be surprised at how appealing these homes can be when you no longer need to be concerned about schools and other child oriented neighborhood amenities.


Sources:

http://realtormag.realtor.org/daily-news/2013/09/10/baby-boomers-turn-cities-for-retirement#.UjDMgui8npE.facebook

http://www.usatoday.com/story/money/columnist/2013/09/09/retire-pension-top-places-cities-baby-boomers/2759217/

You are reading from the blog:  http://www.baby-boomer-retirement.com

Public domain photo of downtown Dallas is courtesy of www.morguefile.com.

How to Fix Medicare

Something needs to be done about Medicare.  If no adjustments are made to the current program, in another ten years it will no longer be able to cover the full amount of seniors' hospital bills.  Different proposals are being floated by politicians in Washington and by advocates for senior citizens, and these proposals were recently evaluated by AARP  in the October, 2013 ARRP Bulletin.

Here are the two approaches currently being considered to solve the Medicare problem.  They are completely different and, according to the AARP analysis, the second option is by far the most preferable.  Since many of my readers are politically active, I thought I would lay out the choices so you can advocate for the changes that you believe would be best.

Option #1 - Increase Medicare Copays to Seniors

Some Washington politicians have proposed that senior citizens begin to be charged copays for certain services, such as their home health care visits.  For example, the suggested amounts range from about $100 to $600 for each 60 day period of home health care.

AARP points out that this was tried once before and it was later repealed because it placed such a heavy burden on many seniors.  Such a bill would cause some seniors to forego home health care and other services, which could actually cost Medicare more if patients end up being hospitalized.  In addition, it could simply switch the burden for these services to Medicaid, which would then put a heavier burden on the states.  Finally, the premiums for Medigap insurance policies would also increase.

Option #2 - Reduce Medicare Fraud and Abuse

There is a new bipartisan bill before Congress that is known as the PRIME Act - "Preventing and Reducing Improper Medicare and Medicaid Expenditures Act."  This bill is aimed at saving taxpayers an estimated $60 - $90 billion a year in Medicare fraud and abuse.  Here are some of the highlights of the bill:

* It makes it more difficult for criminals to steal the identities of physicians and bill for Medicare services that have not been performed.

* Increases the penalties for stealing the identities of patients.  It outlaws the illegal sale, purchase and distribution of Medicaid and Medicare ID numbers.

* Increases the federal reward for fraud tips and establishes a Senior Medicare Patrol.

* Cracks down on doctors who improperly bill Medicare.  Steps would be taken to close loopholes, stop double billing and generally do a better job of tracking payments.

* Penalizes private companies that handle bill paying for Medicare if they do not meet specific payment accuracy goals.

Share Your Opinion With Congresss

Personally, I believe that every possible effort should be made to decrease Medicare fraud before higher fees are charged to senior citizens.  I cringe every time I hear a news story about doctors being arrested for billing Medicare for treatments that either never took place or that were unnecessary.  Even if fees eventually need to be increased, I believe that the PRIME Act should be passed, first.

What do you think?  Do you have other suggestions for lowering Medicare costs and keeping it more sustainable?

No matter which Medicare option you prefer, you can express your opinion to Congress by calling 1-877-940-1510.

With discussions occurring right now over the budget and debt ceiling, now is the time for you to let members of Congress know how you feel.  Sooner or later, this issue will affect nearly every American citizen.

You are reading from the blog:  http://www.baby-boomer-retirement.com

Photo of women is courtesy of www.morguefile.com

Minto Homes - Florida Retirement Communities

Until recently, I had never heard of Minto Homes.  Much to my surprise, however, I learned that Minto is a Canadian company that has been building quality projects for over 60 years.  Over the past few years, they have expanded into the Florida housing market, offering choices in a wide range of prices from about $200,000 to $1,000,000 in master planned communities.

If you are considering a relocation to Florida, there is a good chance that you may see some Minto houses in several of the more popular neighborhoods ... both those that are age restricted for senior citizens as well as those that are open to everyone.  Therefore, I thought it would be helpful to my readers to learn more about this well-respected home builder.

You can also find links to other articles about a variety of retirement communities in the United States and overseas by using the tabs at the top of this blog.

Shown below are the current developments in which Minto is involved.

Mento Homes in Florida

Harbour Isle on Anna Maria Sound

This is your opportunity to live along the beach on a private island in Anna Maria Sound (pictured above).  New homes range from about $380,000 to $500,000.  Although this is not a golf community, there are a number of golf courses nearby.  Within the community you will find a private clubhouse, pool, cabanas, and a marina.  The homes are energy efficient and your homeowner's dues include maintenance, for a carefree lifestyle.

Sun City Center in the Tampa / Sarasota area

This over-55 community contains paired villas as well as single family homes.  Prices for Minto homes in the community range from about $170,000 to $500,000.  There are other builders who also build residences in Sun City Center.  The community has its own hospital and several nursing homes.  There are about 20 golf courses, two indoor pools, an outdoor pool and many other amenities.  Minto offers a stay and play program that may interest you, too.  For just $99, you can stay in a Minto home in Sun City Center for two nights, while enjoying some of the amenities on the property.  This is a great way to decide if this neighborhood is right for you.

Twin Eagles near Naples

Minto has recently completed  two new model homes in this luxury development that contains two highly rated golf courses and a lavish clubhouse.  Single family home prices start at about $500,000 and go up to over $1,000,000.   If you purchase a home from Minto in this community, it currently comes with a free golf membership, although the members are responsible for paying annual golf dues.

Town Park in Port St. Lucie

This is another adult community for those who prefer to live in an age restricted neighborhood.  Home prices are very affordable, ranging from the $200,000's to the $300,000's.  The community offers a wide variety of amenities and is near a number of restaurants and retailers.

Better Business Bureau Report on Minto Homes

In doing research online, I did not find any complaints or angry articles written about Minto Homes.  I thought it was also worthwhile, however, to check out their Better Business Bureau report, just to be on the safe side.

The Better Business Bureau gives Minto Homes an A-.   The BBB has received four complaints about the company during the past three years.  Only one of the complaints occurred in the past 12 months.  Of the complaints that were file, one complaint was over advertising or sales; the other three complaints dealt with problems with the product or service that was offered.  All of the complaint files have been handled and closed by the BBB.

The BBB report goes on to say they they know of no government actions against the company and they have nothing negative to report regarding the company's adertising

Contact Information:

In addition to finding more information on the websites listed in the source section below, you can also call Minto directly at:

1-800-562-9606

Sources for the Information in this Article

http://en.wikipedia.org/wiki/Sun_City_Center,_Florida
http://www.minto.com/florida/new-homes/projects.html
http://www.bbb.org/south-east-florida/business-reviews/home-builders/minto-communities-in-pompano-beach-fl-27003727

You are reading from the blog:  http://baby-boomer-retirement.blogspot.com

Photo of Anna Maria Sound is courtesy of wikipedia.org/commons

Myths About Over 55 Retirement Communities

Having living in an age restricted over-55 retirement community for more than nine years, I have noticed that there are a lot of myths about these communities.  As a result, I thought this would be a good time to clarify a few things and dispel some of these myths.

What You Should Know about Active Adult Communities

1.  Many people believe that in order to move into an over-55 community both members of a couple must be at least 55 years old.  However, only the husband or wife needs to be age 55 or older.  Their spouse can be any age.  It is also possible for a resident who is over the age of 55 to have a roommate who is at least age 40, or they can have an adult of any age as their live-in caregiver.  There are also special exemptions for residents who have a dependent adult child who is mentally or physically handicapped, although you may have to provide evidence of the adult child's disability.  Contact the retirement community that interests you to see if they have any specific requirements or limitations, such as whether live-in caregivers can use the amenities.

2.  Often younger people of retirement age believe that everyone in an age restricted community is extremely old.  The truth of this may depend on how old the community is.  For example, the community where I live was founded in the 1960's.  Therefore, there are a number of residents who have lived here for 30 years or longer. Consequently, the median age is 76, although it has been falling in recent years because of the influx of younger retirees. There are thousands of residents who are much younger than the median age.  In fact, the Baby Boomers club is the most popular and fastest growing club in our community.  If you are looking at a new age-restricted community, the median age may even be under age 70.

3.  Sometimes people are hesitant to move to one of these communities because they have the impression that everyone is either a shut-in or that they spend their days sitting on the front porch in rocking chairs.  While there are definitely some shut-ins in any retirement community, the vast majority of people are very physically and mentally active.  In our community, we have a group of synchronized swimmers, horseback riding classes, tennis courts, two busy golf courses and a wide variety of exercise programs including line dancing, circuit training, yoga, water aerobics, and much more.  There is a large group of bridge players and over 200 clubs. There are also regularly scheduled dances throughout the community. 

4.  Another misconception is that your children and grandchildren will not be able to stay overnight in your home with you.  In truth, guests under the age of 18 can legally stay up to 60 days a year.  In fact, when one of our daughters moved to Southern California from another state, she and her two young children stayed with us for about six weeks until she found a job and an apartment of her own.

5.  Baby Boomers who still have active careers may feel uncomfortable about whether they should move into any place labeled a retirement community while they are still working.  However, about a quarter of the people who live in our community have jobs.  Some of them work full-time, like my husband, and others work part-time, as I did until I recently retired.  Not only do many people work outside the community, but our retirement community also offers jobs to hundreds of residents.  These residents hold a wide variety of jobs including positions as gate guards, bus drivers and office clerks.  Many retirees find that working part-time for the homeowner's association is a great way to supplement their retirement income.  In fact, homeowner's associations in retirement communities may be one of the easiest places for retirees to be able to find part-time jobs.

6.  Another mistaken impression some new residents have is that these communities are so safe that the residents do not need to practice good personal security.  As a result, it is not uncommon for people to leave their homes unlocked while they go for a walk, leave their cars unlocked when they visit friends, or leave their purses sitting in plain view on the front seat of their cars.  (I have frequently observed all of these behaviors.) Good personal security is as important in a retirement community as anywhere else.  While these communities usually do have a low crime rate, crime does exist.  It isn't wise to tempt outside visitors and workers in the community by practicing lax security.

I hope this has dispelled some of the myths that you may have had about living in a retirement community!  If you have other questions, please leave them in the comment section and I will modify this article to answer the readers' inquiries.


You are reading from the blog:  baby-boomer-retirement.blogspot.com

Public domain photo of a golf course is courtesy of www.morguefile.com