By Sharon Cranston, Retirement Living Counselor
Living life independently in a retirement community gives you the opportunity to enjoy the freedom to do the things you want to do, when you want to do them. The choices are yours every day. You will make new friends while continuing to grow and learn through invigorating programs, events and outings offered daily. This lifestyle lets you get as involved as much or as little as you want!
There are basically three types of retirement living communities:
- To PURCHASE a small home within a community. This “purchase” option most often requires the sale of this property upon death or a move.
- ENDOWMENT or Life Care Communities – this type of community requires a significant upfront fee ranging from $30,000 to as much as $600,000. This is paying in advance for the potential need for eventual healthcare services, plus requires an additional monthly rental fee. Upon death this fee is fully or partially refundable depending on the services required and the length of residence within that community.
- MONTHLY RENTAL continuing care community – this type of community requires a small deposit or community fee followed by a monthly rental fee to cover utilities, transportation, meals, housekeeping and numerous activities and programs. The opportunity for emergency response systems, 24-hour staffing, security, nursing care, therapies and constant socialization are always available.Continuing care retirement communities offer Independent Living, Assisted Living, Memory Care, Rehabilitation Services and Long Term Nursing Care. When one is shopping for retirement living options, always make certain the final choice is a continuing care community so another move isn’t necessary.
Your choice to make a retirement community your home lets you devote your attention to the most important things in your life, the things you choose for yourself!