The Real Estate slump continues and frankly we could not sell our condo for a price covering the inital purchase price plus the improvements we have put into our Cloister home. Yet I still think a Cloister condo is a good investment today.
Baby Boomers are downsizing as they reach retirement age. Empty nesters don’t need big houses. In spite of declining home prices, a big home sale still leaves enough to buy a smaller, lower cost Cloister Condo.
- When 2nd story stair climbing gets difficult an elevator or chair lift reduces property values rather than increasing them. Single level living is a better choice.
- A Cloister unit has most of the features that allow seniors to age in place gracefully.
- Very few Active Adult Living arrangements have an attached garage with stepless entry versus other choices with entry ramps that reduce property value.
- The Cloister at St Henry has an “exclusive use” Clubhouse and outdoor pool. Some other 55+ Active Adult Living communities share Clubhouse facilities and swimming pools with neighboring subdivisions consisting of families with children. These pools are crowded and noisy.
- Property values in the Belle Meade, West Meade 37205 Zip code are considerably higher than most areas of Davidson County, while similar units at Williamson County’s “Reid Hill Commons” in Franklin, TN start at $240,000 but have no swimming pool or convenient access to shopping and healthcare.
To sum it up, the first of the Baby Boomers are reaching retirement age, for certain of them, selling a large home, buying a Cloister home and banking the rest of the money is a good retirement action plan.
Bonney has some good advice when I get restless “Bloom where you are planted.”
Psalm 92:13 ~ They are planted in Yahweh’s house. They will flourish in our God’s courts
Psalm 1:3, Just Like a Tree planted by the waters, I shall not be moved And he shall be like a tree planted by the rivers of water, that brings forth his fruit in his season; his leaf also shall not wither; and whatsoever he doeth shall prosper.
Jeremiah 17:7-8 ~ Blessed is the man who trusts in Yahweh, and whose trust Yahweh is. For he shall be as a tree planted by the waters, who spreads out its roots by the river, and shall not fear when heat comes, but its leaf shall be green; and shall not be careful in the year of drought, neither shall cease from yielding fruit.