With family close by, it is not easy to put New Jersey behind you. For that reason, a buyer would be wise to read the fine print before deeming a 55+ community an affordable proposition.
1. Rossmoor Village, Monroe
Then there is Rossmoor Village. It is a name familiar to any New Jersey buyer in search of a Monroe Township retirement. The place is large and well established. A word of caution: the scale and age of such a property come with their own set of rules, boards, assessments and resale competition.
Do not let a lower price tag fool you into thinking the move will be without stress. You should give the association budget as much consideration as the unit itself.
2. Leisure Village, Lakewood
The draw of Leisure Village Lakewood for many retirees is the appearance of affordability compared to some of the newer communities in the state. But that kind of older value warrants a thorough inspection.
One should look at the roofs, the heating, how the association handles its reserves and snow removal, and the upkeep of the club. Before taking a well known name for granted, compare the pattern with the national retirement-community regret list.
3. Leisure Village West, Manchester
For those coming from the pricier northern counties, Leisure Village West in Ocean County seems like a sensible option on paper. The monthly figure is appealing at first glance.
Regret sets in when you realize the extent of the association’s control over your day to day life. From pets and parking to renovations and resale, the rules can be all encompassing. An independent buyer has to decide if they find those regulations protective or otherwise.
4. Holiday City, Toms River/Berkeley
Holiday City is no small operation; it is a whole world of retirement with sections and prices to suit most. This is where doing your homework is called for.
A given address may have a tidy, active feel while another part of the community is in need of updating. Put aside reputation and check the facts on the taxes, the roof, crawl spaces and any exposure to flood or storm.
5. Greenbriar Oceanaire, Waretown
You get the polished golf-community side of a Jersey retirement at Greenbriar Oceanaire. The shore lifestyle and clubhouse are enough to sell the dream in short order. But the costs require a more measured view.
Between the HOA dues, coastal insurance, taxes and the distance to services, the golf can add up. If the purchase is for the pretty clubhouse, one must ask what the year will cost when the golfing and driving slow down.
6. Greenbriar Woodlands, Toms River
Greenbriar Woodlands has an attractive middle ground: it is established and near the shore but not right on the beach. Yet the New Jersey math is unforgiving. There are property and HOA taxes to consider, as well as the age of the home and any risk from storms or the golf course.
Those comparing older options in the area would do well to read Florida retirement communities some buyers regret not researching first; the bills for a coastal retirement have a way of travelling.
7. Clearbrook, Monroe
Clearbrook is the practical goal for a buyer wanting Monroe Township access at a non-luxury price. Practicality does not preclude a reserve check, however.
In an older building the sales price is less important than the maintenance, the board and the competition on resale. If the aim is to shed some chores, make sure you know which ones are actually gone.
8. Concordia, Monroe
Concordia has the established air that some prefer, making it an easy choice in Monroe for those who want clubs and golf on familiar roads. But an old system can mean strong rules.
Find out what is being complained about at the board meetings regarding assessments, parking or snow. That will give you a better picture than a sunny showing ever could.
9. Renaissance At Manchester
Renaissance at Manchester stands out from the rest of Ocean County with a resort-golf vibe. There is a risk of regret in paying for what you do not use.
The fancy entrance is of little consequence if the monthly number for the golf, the HOA and the drive to the hospital keeps you in.
10. Westlake Golf And Country Club, Jackson
Westlake Golf and Country Club is for the buyer who wants the full country-club experience in central New Jersey. The lifestyle is there. One has to wonder if the cost of the club can be justified by the rest of the retirement.
Once the closing is done, a home can seem to cost more than expected with all the dues, taxes, dining and golf outlays, and any assessments that may come up. For those weighing club communities, it is worth looking at Texas retirement communities that can cost more than buyers expect for comparison.
11. Four Seasons At Mirage, Barnegat
There is something about Four Seasons at Mirage that puts buyers at ease; the builder has a name people know and it comes off as a more tranquil shore option. But a well known builder is no substitute for doing your own homework in the area.
One should verify the roof, the age of the home, storm exposure and HOA dues. And if the draw is the shore lifestyle, make time to see how the area is in the winter.
12. Four Seasons At Metedeconk Lakes, Jackson
With its polished look, Four Seasons at Metedeconk Lakes makes for a comfortable fit right away. The amenities and setting are hard to argue with. Yet the total cost of ownership is where you will find trouble.
Before calling it affordable, add up the property taxes, reserve funding, club expectations and what an update might run. Do not let a fine lake view cloud the budget.
13. Cedar Crest, Pompton Plains
Cedar Crest is a continuing-care community which means the purchase is more of a long-term plan than a straightforward condo deal. Some find that comforting. The plan calls for close reading though.
You want to be clear on entry and monthly fees, care levels, meal plans and refund rules before you move in. If you cannot easily explain the contract to your adult children, take a step back.
14. Seabrook, Tinton Falls
For some retirees, Seabrook is a way to have future care planned while remaining close to family and the Shore. A real benefit. But families have been known to regret skimming the care contract in favor of the apartment itself.
The terms on refunds, transfer rules and access to health care are important. Those still considering pricier states would do well to read New York retirement communities buyers should research before signing.
15. Stonebridge At Montgomery
Stonebridge at Montgomery has an appeal for the buyer wanting an upscale environment with Princeton-area services at hand. It can be a graceful way to downsize locally. Still, downsizing of this sort has its price.
Factor in the high cost of local services, landscaping, home size and HOA dues. If the place is still roomy, one has to wonder if it is a true downsize or merely a change of neighborhood.
16. Canal Walk, Somerset
Canal Walk’s central Jersey spot is convenient for retirees with kin in all directions, and convenience has its value. Then again, it can also mean traffic and a certain suburban bustle.
Give some thought to road noise, parking and when you might resell. Come by on a rush hour evening rather than just a quiet Saturday to get the full picture.
17. The Fairways At Lake Ridge, Lakewood
To many, The Fairways at Lake Ridge is a sensible Ocean County choice for a golf community, less of an intensity than you might find in North Jersey.
But the usual due diligence applies: check the roof, the heating, the demand for resale and what the golf runs. If the community is attractive mostly for its looks, see if the numbers hold up without the golf.
18. Holiday Village, Mount Laurel
Holiday Village is a familiar type of suburban retirement for South Jersey, well situated for those with ties to the Philadelphia or Shore area. There is a risk of regret in assuming South Jersey is cheap.
Taxes, older systems and stormwater are realities here. Compare with California retirement communities that can surprise retirees and put aside the notion that every issue is over on the West Coast.
19. Surrey Downs, Freehold
Monmouth County access without the expanse of a big house is why Surrey Downs draws interest. But the decision ought to be practical. Look at the pet rules, the HOA minutes, the roof and resale history.
If you are also eyeing warmer climes, have a look at Florida retirement communities some buyers regret not researching first and small towns Americans are quietly leaving before concluding a relocation is a panacea for your costs.
Before You Buy In New Jersey
Put New Jersey to the test. Ask for the insurance figures, the snow plan, the reserve study and tax bill, along with the HOA budget and recent resale data.
The state can be worth staying in, but only if the bottom line is truthful.
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