Campbell Wealth Management - May 2020

THE PROS AND CONS OF BUYING A HOME IN A 55-PLUS COMMUNITY

Pro: Amenities are included. Most 55-plus communities include amenities like exercise classes and educational programs for their residents. They also invite community organizations and leaders to speak about local issues

Depending on your wants and needs, buying a home in a 55- plus community might be a financially savvy way to set yourself up for retirement. But is it the right decision for you? Here are a few financial pros and cons associated with moving into one of these neighborhoods. Pro: The homes are in excellent condition. Oftentimes, 55-plus communities provide maintenance services, including housekeeping and landscaping. Also, it’s likely that only a handful of people have occupied the home since it was built, so buying in a 55-plus community means you’ll get a property in excellent condition with less wear and tear. Con: You’ ll have to pay a monthly fee. Unfortunately, all the great stuff doesn’t come free. Usually, you’ll have to pay an extra monthly bill, similar to a homeowners association fee, to live in a 55-plus community. Some communities include all maintenance and amenities in the monthly rent or mortgage (some even cover utility bills), but make sure you understand what is and isn’t covered before you sign a contract!

A Special Thank You to Our Community “Rise above the storm and you will find the sunshine.” —Mario Fernandez, Artist, 1946-2012 In these challenging times, it can be hard to find the silver lining, but thanks to the hard work and dedication of countless men and women, recovery is on the horizon. At Campbell Wealth Management, we thank everyone who has put themselves on the front lines during the COVID-19 crisis to help make our community safer and a little more normal. Our thanks go out to everyone from first responders, police officers, firefighters, health care workers, grocery store clerks, restaurant employees, delivery drivers, and so many more. Thank you. We appreciate all you do. or upcoming elections. Some even have a clubhouse or dining hall for social gatherings. Save money by taking advantage of these programs instead of paying for a gym membership or a course at the local community college. Con: It’s a limited buyer’s and renter’s market. Most people who buy in a 55-plus community plan to retire there. If this is your original intention but your plans change down the road, you might have a harder time selling your home here than you would in a community that is open to people of all ages. Make sure to budget for those potential holding costs and plan accordingly. Regardless of where you decide to buy, be sure to consult an experienced real estate agent and a financial planner. Here’s to living out your golden years in comfort and convenience!

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news! Just before the season was canceled, Connor got an offer to play at the College of Charleston, in Charleston, South Carolina — and he accepted! Carter and Codie are also taking high school classes online. Classes have been canceled through the end of the school year, so they’ll finish up the semester at home. This hits a little harder for Carter, however; he won’t have a senior prom this year and won’t be able to walk the stage for graduation. It’s surreal that people everywhere, like Carter, will be missing out on life moments like this. Maybe we’ll find some way to make up for it and create some good memories. Kimhas been cooking just about every night. I will say, it seems we’ve been eating healthier as a family, so that’s good. We’ve been playing ping pong and pool together, and we’ve been watching a lot of movies. It’s been a great time to really reconnect as a family. Our lives have slowed down now that we are not all running in 10 different directions. It has been a blessing. In the meantime, I hope you are staying safe and healthy. We’re always a phone call away if you need anything, and if you have questions or concerns, the CWM team is here for you.

Kelly Campbell

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