A client nearing retirement asked while viewing properties in Bellevue, "Why are there so few homes without stairs in this neighborhood?" Bellevue is a hilly area, making single-story homes quite rare. As a result, retirees looking for stair-free living naturally turn their attention to condos or active senior communities.

If the term "active senior community" is unfamiliar, think of it this way: typically, only those aged 55 and older can reside there, and the community features amenities like gyms or community centers. In both these communities and condos, there are monthly HOA fees. HOA stands for Homeowners Association, which can be thought of as a management fee for the community. This fee often covers roof repairs, exterior maintenance, and landscaping, reducing the burden on individual homeowners to spend large sums on roof replacements.

So how do costs differ? The effective property tax rate in King County is about 0.82 percent, with the median home value at $885,200, leading to an annual median property tax of around $7,292. Bellevue has relatively high home prices within the county, so actual property taxes may be higher. Whether it's a single-family home or a condo, property taxes are proportional to the home value. What changes is the maintenance cost on top of that. Homeowners of single-family homes bear the maintenance costs directly, while in condos or active senior communities, these costs are covered by the HOA fees.

Heating and cooling costs can be broken down like this: the average electricity rate in Washington State is 10.13 cents per kilowatt-hour, and residential natural gas is about $17.62 per thousand cubic feet. This area has short, cool summers, so cooling costs are not significant, but winters are often cloudy and rainy, requiring longer heating periods. Condos, sharing walls, tend to have less heat loss than single-family homes, resulting in relatively lower heating costs.

Washington State offers a property tax exemption program for residents aged 65 and older or those with disabilities. The exemption rate varies based on income, and the specific income brackets differ slightly by county and are updated every few years. Applications can be made through the King County Assessor's Office. It's best to directly inquire to confirm if you meet the criteria.

• Single-family homes: Many listings have stairs and homeowners bear maintenance costs, but they offer more space and yards.
• Condos: No staircase issues and less maintenance burden, but HOA fees apply and space is reduced.
• Active senior communities: Neighbors of the same age and amenities are available, but age requirements and HOA fees must be considered.

It's also wise to think ahead about moving costs. Transitioning from a large single-family home to a condo or active senior community means downsizing, which involves time and costs for sorting through belongings and disposing of items accumulated over the years. Conversely, this also means reduced future maintenance costs and management burdens, making it easier to weigh the one-time moving costs against ongoing savings in management responsibilities.

If you're coming from another state, you may already know that Washington State has no state income tax, but it's easy to overlook that property taxes are separate and ongoing. Judging based on the tax system of your previous residence may lead to underestimating or overestimating the property tax burden in King County, so it's most accurate to check the recent property tax bill for any properties of interest.

Searching for a home without stairs and reducing management burdens often point in the same direction. Property tax rates, exemption criteria, and utility rates can change annually, so it's advisable to verify the latest information. This article is not investment or legal advice, and it's recommended to consult with a real estate professional and a tax advisor before finalizing any contracts.