The 55+ Community Evaluation Checklist

Why a Checklist Matters

The excitement of finding the right community can accelerate decisions past important due diligence steps. A checklist is not pessimism — it is the professional discipline that separates buyers who love their communities 5 years later from those who did not know what they were agreeing to. Use this list on every community you are seriously considering.

Financial Health Questions

HOA financial health is the single most important thing to verify before buying. An underfunded reserve means future special assessments — unexpected lump-sum charges that can run $5,000–$20,000+ per homeowner. Ask for the reserve study, the current reserve funding percentage, the operating budget, and any meeting minutes referencing upcoming projects or fee increases. A well-run community should be 70%+ funded in reserves. Below 50% warrants a serious conversation with Dan about risk.

Rules and Restrictions

Read the CC&Rs (Covenants, Conditions, and Restrictions) and the rules and regulations before you sign. Key things to confirm: rental restrictions (can you rent the home — and for how long?), pet policies (size limits, breed restrictions, number limits), guest policies (how long can family stay?), exterior modification rules (fences, paint colors, landscaping), and vehicle restrictions (commercial vehicles, RVs, boats in driveway). These rules govern your daily life. Surprises after closing are avoidable.

Quick Checklist

• Request the most recent HOA financial statements and reserve study
• Ask what percentage the reserve fund is currently funded
• Review the last 12 months of HOA board meeting minutes for red flags
• Confirm the monthly HOA fee — listing data is often outdated
• Confirm the capital contribution amount due at closing
• Ask if any special assessments are planned or under discussion
• Read the CC&Rs and rules fully before making an offer
• Confirm the rental policy — short-term and long-term
• Confirm the pet policy — size, breed, and number limits
• Confirm the guest / extended family stay policy
• Ask about vehicle restrictions (RVs, boats, commercial trucks)
• Confirm what the HOA fee actually covers vs what you pay separately
• Walk the community at different times of day and week
• Talk to at least two current residents — not just the selling agent
• Confirm which amenities are open vs still under construction (Birchwood)
• Ask about the management company — how responsive are they?
• Pull sold data for the last 12 months — how fast do homes sell?
• Check if any litigation is pending involving the HOA
• Confirm the 55+ age verification and enforcement process
• Review the architectural review process for any changes you plan
• For condos: ask the lender to check project approval status early
• For new construction: ask when the HOA transitions from builder to resident control