While the recession may be partly to blame for a slowdown in development and sales of over-55 units, age restrictions can be a turnoff for some buyers worried about the future resale value of their units, brokers say.
Buyers looking at age-restricted units fear they will have a harder time finding buyers when it is their turn to sell, said Lesley Palmiter, a real estate agent at Keller Williams Realty in Newton.
“There are too many restrictions and too many stipulations,” Palmiter said.
The lack of three-bedroom apartments also has caught the attention of the state Department of Housing and Community Development. It is now considering regulations that would require a minimum number of such units when new apartment and condo developments are built under the state’s
The New England Center for Investigative Reporting (necir-bu.org) is a nonprofit investigative reporting newsroom based at Boston University and WGBH TV/Radio in Boston, supported in part by media outlets that include The Eagle-Tribune/ NECIR senior investigative reporter Jenifer B. McKim contributed to this report along with intern Anais Vallant.