Orem · Utah County
Lakecrest III
$363,000 to $398,000
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Everything on Lakecrest III, in one place. Free, from a Utah real estate broker and senior move specialist.
Quick answer
Lakecrest III is an age-qualified 55+ community in Orem, Utah County, Utah, with about 25 homes. Homes are condos running 2,248 to 2,568 square feet, priced $363,000 to $398,000. HOA dues run about $150 per month. The community is built out, so homes sell as resale.
It is a residential community, not assisted living or senior care. There is no staff, no nursing, and no meal service. Residents own their homes.
Verified July 2026 by Kris Bowen, Utah real estate broker and senior move specialist. 801-999-8005
Only Lakecrest III, 25 units built in 1986, is the 55+ portion. Lakecrest is four separate associations across 122 units, and the other 97 units are not age-restricted.
Not FHA approved. No rentals, and pets are capped at one animal under 12 pounds.
Broker's note
The single most useful thing I can tell you is that Lakecrest is not one community. There are four separate associations across 122 units, and only Lakecrest III, 25 units built in 1986, is marketed as 55 and older. Lakecrest 1, 2, and 4 are not age-restricted. Anyone who tells you Lakecrest is a 55+ community is describing 25 units as though they were 122, and will point you at the wrong three homeowners associations.
Now the financing, which is the real issue. This project is not FHA approved. A 25-unit condominium from 1986 with no FHA approval is a textbook non-warrantable risk, which in practice means conventional-only, possibly portfolio lending, and likely a larger down payment. Have your lender look at this project before you look at units, not after.
Two rules that end the conversation for some buyers: no rentals at all, and pets limited to one cat or dog up to 12 pounds. Also note the controlling document was amended in December 2025, only months ago. A recent amendment is exactly where an age policy gets added, tightened, or dropped, so read it before relying on the age rule.
Kris Bowen, Real Estate Broker · 23 years in Utah
Is this the right fit?
A good fit if you want
- The lowest price point of any Orem 55+ community in this registry
- Being five minutes from Timpanogos Regional Hospital
- Walking distance to Target and Smith's
- Buying with cash or portfolio financing
Look elsewhere if
- You need FHA financing. This project is not approved
- You have a pet over 12 pounds, or more than one
- You ever want to rent the home out. Rentals are prohibited
- You want amenities. There are none in any Lakecrest section
The homes
Where this stands, July 2026: Resale only with no active listings found. County assessed values run $363,600 to $398,200, the lowest of the Orem communities in this registry.
On the MLS as of September 16, 2026: nothing in Lakecrest III is listed right now. Turnover here is low, so ask to be told the day one comes up. See current listings.
What "single-level" actually means here
Plenty of 55+ homes advertise main-floor living and still put the laundry in the basement or the second bedroom upstairs. Here is what actually sits on the entry level at Lakecrest III.
- Primary suite on the entry level
- All daily essentials on one floor
One story above grade with main-floor living, over a basement. County records show 1,025 to 1,208 square feet on the main floor against marketed totals of 2,248 and 2,568, so most of the square footage is below. There are no elevators and this is not a stacked building.
What to check when you walk a home here
- Measure the interior doorways. 32 inches of clear width is the minimum that stays workable with a walker; 36 is better. This is expensive to change and easy to check with a tape measure.
- Look for a step-free way in. Often the garage door is the flattest entry in the house, and no listing ever mentions it.
- Push on the bathroom walls where a grab bar would go. If there is no blocking behind the drywall, adding one properly means opening the wall.
- Check whether the shower could go curbless without moving the drain, and whether there is turning room in the bathroom.
- Ask the age of the roof, furnace, and water heater. On resale homes in an established community, this is where the real money hides.
The HOA
$150 per month
What the dues cover:
- Exterior maintenance
- Building insurance
- Landscaping
- Snow removal
$150 a month. Rentals are not allowed, and pets are limited to one cat or dog up to 12 pounds.
Who actually runs this HOA
Registered with the Utah Department of Commerce as Lakecrest III .
Not registered with the state, which is a compliance gap worth noting, because Lakecrest 1, 2, and 4 are all registered and current.
This is the entity to ask for the budget, the reserve study, and the recorded CC&Rs. I request those for clients as a matter of course.
Two cautions I give every client buying into a newer association
Developer-set dues are introductory. While a builder still controls the association, dues are commonly set low and reserves underfunded, because low dues sell houses. After homeowners take over, boards routinely raise dues and levy assessments to catch up. Ask for the projected turnover date.
Ask for the reserve study, and check its date. Utah law requires a reserve analysis at least every six years, reviewed at least every three, with an annual summary to owners. Under 70 percent funded is a yellow flag. Under 50 percent is a real problem, and the bill arrives as a special assessment after you close.
What I have not been able to confirm at Lakecrest III
Builders and associations do not publish everything, and some of what they do publish disagrees with the MLS. Rather than pick whichever number reads better, here is what is still open on this community as of July 2026. Ask for each of these in writing before you write an offer, or ask me and I will chase them down.
- The December 2025 amendment, which is the current controlling instrument and would confirm the age policy
- Why this association is not registered with the state while its siblings are
Who is actually allowed to live here
Lakecrest III is age-qualified, which is the looser of the two legal standards and the one families most often misread.
Under the federal Housing for Older Persons Act the association keeps its senior exemption as long as at least 80 percent of occupied homes have a resident 55 or older. The other 20 percent is real, usable room, and it is what lets a younger spouse, an early-50s buyer, or a surviving partner hold a home here. How much of that room is left is a question about this specific association, not about the law.
The thing almost nobody knows: HOPA does not, by itself, protect an under-55 surviving spouse. Whether your husband or wife can stay after you are gone depends entirely on the recorded CC&Rs. Some communities include an explicit survivor clause. Some leave it to the board. Some are silent, which is the worst version.
Get these answered in writing before you write an offer
- Can a surviving spouse under 55 remain, and is it written down or left to the board?
- Can an heir under 55 inherit and live in the home, or only rent or sell it?
- How much of the 20 percent cushion is already in use? If the community sits at 19 percent, there is no room left for your spouse. This is obtainable from the association and virtually nobody asks.
- Can a live-in caregiver under 55 stay if one of you needs help?
- How many days per year may a younger guest stay, and does that constrain a summer with the grandchildren?
Location and getting to services
Typical-traffic drive times from Lakecrest III to the places you will actually go.
How far is this from you?
Enter your doctor's office, your church, or a family member's address and see the drive from this community.
Opens driving directions in Google Maps with Lakecrest III as the destination. Your address is not saved, stored, or sent to us. It goes straight from your browser to Google Maps.
The question adult children ask that nobody answers
How does an ambulance get in? If a community is gated or has controlled access, ask whether the fire district has a Knox box or gate code on file, and whether the first-due unit carries a paramedic. That detail matters more than the drive time does.
A useful benchmark: Medicare Advantage network adequacy rules set maximum time and distance standards by county type. In large metro counties the primary care standard is 10 minutes or 5 miles.
If you stop driving
The least-discussed risk in active adult housing. Losing the ability to drive roughly doubles the risk of depression symptoms and social isolation, and where a home sits determines how hard that transition is.
- Is there a continuous sidewalk to anything useful, or does every errand require a car?
- What is the walk to a grocery store or pharmacy on the actual sidewalk route?
- Is the address inside a UTA paratransit service area? ADA paratransit generally covers within three quarters of a mile of a fixed route.
- Does a county senior transport or volunteer ride program serve this address?
What it really costs each month
The sticker price is the least interesting number. What matters is the monthly nut, and how it compares to what you are paying now.
Starting here, roughly
—/mo
Based on this community's entry price of $363,000 and dues of $150, with (July 30, 2026 average), plus a typical Utah effective property tax rate and insurance. Utilities are not included.
Run your own numbers (opens in a new tab)These payment figures are an estimate for budgeting and planning only. They are not a mortgage quote, a loan offer, or a commitment to lend. Your actual rate and payment depend on your credit, loan program, and current market rates. Talk to a licensed mortgage professional for real numbers. Connect with our preferred Utah lender.
* Based on what the community and builder publish about the dues, which I have looked up rather than assumed. It is not confirmed against the association's own budget and governing documents, and exactly what is covered can differ by phase, by home type, and over time. I pull the current budget and CC&Rs for clients before they write an offer.
This is the honest case for a 55+ community, and it is the one most people get wrong. The HOA fee is not purely an added cost. It replaces line items you already pay on a larger home, in cash or in your own labor. When someone tells me downsizing does not pencil, we usually find they compared the mortgage and the dues and left out the lawn service, the snow, and the roof they will need in six years.
Typical utilities
Rough monthly ranges for a home this size in Orem. Utilities are the line item people most often forget to compare, and they are usually where a smaller home wins.
Estimates only, and they vary a lot. A townhome, a condo, and a detached single-family home of the same square footage can run very differently, and so can two neighbors in identical homes depending on thermostat habits, occupancy, and whether the yard is irrigated. Treat these as a starting point, then ask for the actual bills on a specific address.
For the son or daughter reading this
If you are researching Lakecrest III on behalf of a parent, you are asking different questions than they are, and both sets are legitimate.
What to check at Lakecrest III specifically
- How far Orem is from you. Hands-on help from an adult child falls off sharply with distance, so treat that drive as a real factor rather than a detail.
- Access here is open, so the questions are address visibility at night and whether a medical alert device holds a signal on the lot.
- Whether a live-in caregiver under 55 is permitted. The recorded CC&Rs decide that, not the sales office.
- Whether the architectural committee permits a ramp or grab bars, and what the overnight guest limit is. That last rule is the one that quietly stops you staying a week to help.
Lakecrest III is real estate, not care. There is no staff, no nurses, no meals, and no call system. If your parent needs help with bathing, dressing, or medication, that is assisted living, which is a different product entirely. Buying here because it sounds like a safer version of a house is the most expensive mistake families make.
The rest of it, coordinating with siblings, the paperwork worth locating now, the Medicare gap that catches families out, and how to raise the subject without a fight, is written out once in the family guide rather than repeated on every community page.
Other 55+ communities to compare
Worth a look before you decide. I would rather you tour two or three than fall for the first one you see.
Information on this page is gathered from the builder, the association, public records, and other sources believed reliable, but it is not guaranteed and is subject to change without notice. Pricing, availability, HOA dues, amenities, and recorded community rules change often. Cost and utility figures are estimates only and vary widely by home type, size, and household. Verify all details for a specific address, and read the recorded documents, before you make an offer. Kris Bowen is a licensed real estate broker, not a tax, legal, insurance, or medical advisor. Last reviewed July 2026.
The Orem market around Lakecrest III
These are current figures for Orem as a whole, not for Lakecrest III. They tell you what the surrounding market is doing. As of August 2026.
- $502,000Median sale price, 2026 to date
- 4.1 moMonths of supply, currently a balanced market
- 41Median days on market
- 99.1%Received against final asking price
See the full Orem market report, including the 12-month price trend.
These payment figures are an estimate for budgeting and planning only. They are not a mortgage quote, a loan offer, or a commitment to lend. Your actual rate and payment depend on your credit, loan program, and current market rates. Talk to a licensed mortgage professional for real numbers. Connect with our preferred Utah lender.
Good to know
Frequently asked questions
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Is all of Lakecrest in Orem a 55+ community?
No, and this is the most important thing to understand. Lakecrest is four separate associations across 122 units. Only Lakecrest III, 25 condominium units built in 1986, is marketed as 55 and older. Lakecrest Estates, Lakecrest II, and Lakecrest IV are not age-restricted. Describing Lakecrest as a 55+ community tells buyers that 122 units are restricted when 97 of them are not, and sends them to the wrong homeowners associations.
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Can I use an FHA loan at Lakecrest III?
No. This project is not FHA approved, and for a 25-unit condominium built in 1986 that is a significant hurdle rather than a formality. Expect conventional-only financing, possibly through a portfolio lender, and likely a larger down payment. For contrast, the neighboring Lakecrest IV is FHA-approvable. Have your lender review the project before you get attached to a unit.
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What are the rules at Lakecrest III?
Two are strict enough to decide the question for many buyers. Rentals are not allowed at all, so this cannot become an investment property. And pets are limited to one cat or dog up to 12 pounds. Dues are $150 a month covering exterior maintenance, insurance, landscaping, and snow removal.
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Are there amenities at Lakecrest III?
No. There is no pool, no clubhouse, and no courts anywhere in any Lakecrest section, and every sub-association's amenity field is blank. Dues cover maintenance and grounds only. What the location does offer is convenience: five minutes to Timpanogos Regional Hospital and about half a mile to Target and Smith's.
Talk to a real person
Thinking about Lakecrest III?
I will send the CC&Rs, the HOA budget and reserve study, current pricing, and my honest read. Or just call and ask one question. Both are free.
Call or text 801-999-8005No pressure, no obligation. Happy to talk with you, your spouse, and your family together.