Downsizing to an over 55 apartment is a great alternative for the homeowner who does not want to invest anymore in their home for maintenance, major appliance expenses, extra utility costs, property taxes and Homeowner’s Insurance . The other option is for the homeowner to sell the house and invest the equity, use the money to live on or use for future health-related needs. Over 55 apartments are located in local neighborhoods and have lots of long term residents in similar age groups. The average age of each resident is around 75. These communities have resort-style amenities such as lush landscaping, a pool, walking trails, fitness center, business center, library, activity director, monthly activities, seasonal parties and gate-controlled access.