The legal side, briefly
Fair housing law generally doesn't allow age limits in housing, but the Housing for Older Persons Act (HOPA) makes an exception. A "55 or older" community qualifies when at least 80% of occupied units have at least one person 55 or older, it publishes and follows policies showing it's intended for older persons, and it verifies ages. There are also "62 or older" communities, where generally every resident must be 62 or older.
Each community's own rules decide details like younger spouses, adult children and guests, so read the declaration or bylaws.
Kinds of 55+ housing
- Owned townhomes, twin homes and condos in 55+ associations: you buy the home; an association handles exterior work.
- Senior housing cooperatives: you buy a share of the building and pay a monthly fee. Minnesota has many of these. See senior co-ops.
- 55+ rental apartments: no purchase; a lease and monthly rent.
- Independent living, assisted living and memory care are services-based housing; we can help you sell your home to move into one, and coordinate the timing.
Questions to ask before you buy
- What does the monthly fee cover, and how much has it gone up in recent years?
- How healthy is the reserve fund? Any planned assessments?
- What are the rules on age, guests, pets, rentals and resale?
- Is there a waiting list, and how do resales work?
- Underground or attached parking? Elevator? Guest suite?
