Snowbirds, New Mortgages and Active Adult Communities

Some people who might consider buying a new home at retirement time are put off by the idea of starting new mortgage payments at this stage in life.   Snowbirds, retirees that spend winters in a warm location and summers in a cool location, in particular are often not keen on carrying a mortgage on a home that they may only occupy for a handful of months each year.   In such cases, though, a home in an active adult community may be just the ticket because these developments understand that residents may only be seasonal occupants, and, as a result, many of them have rental programs in place to help owners find tenants for the periods of time when owners are away.   If a tenant cannot be found, community management will often keep an eye on the empty house for the owners.   So even snowbirds can enjoy the benefits of an active adult community. 

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Prescott Population:  42,000   |   Percentage Age 45 or Better:  55%   |   Cost of Living:  20% Above U.S. Average   |   Crime Rate:  Meets U.S. Average

Arizona Stats:

Population, year 2009 estimate - 6,595,778

Persons 65 years old and over, year 2009 - 13.1%

High school graduates, percent of persons age 25+, year 2000 - 81%

Bachelor's degree or higher, pct of persons age 25+, year 2000 - 23.5%

Persons of Hispanic or Latino origin, percent, year 2009 - 30.8%

White persons, not Hispanic, percent, year 2009 - 57.3%

Median household income, year 2008 - $51,009

Social Security taxed?  No

Source: U.S. Census Bureau

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