Retirement Communities

Independence, Luxury, and Variety

From a southern California beachfront resort, to a quiet, church-sponsored community in Minnesota, to the renowned, perpetually social Sun City properties (more like small cities), retirement communities continue to evolve to meet new seniors’ lifestyles. You can find high-rise apartments in major cities, clusters of single-family homes in suburban settings, and townhomes along the best golf courses in the country. Retirement communities offer a safe, protected, and convivial environment, with friends, social events, and a range of amenities.

The Resident Community

A lot of residents–single adults as well as retired couples–choose to leave behind the hassles of home ownership once their children have grown. They’re usually active, independent, older adults who don’t need regular medical or nursing care (although some do eventually bring in a home health nurse or aide for occasional personal care or nursing services). Residents often choose to buy their condo or property, so they have the security of home ownership without the work of major maintenance, repair, and groundskeeping, which is often taken care of by the community.

Philosophy

Retirement communities have sprung up nearly everywhere for active, healthy adults (some require a minimum age for residents and ask for a physical exam that shows you can live safely independently). Retirement communities seek to combine comfortable, often upscale residences with a range of intellectual, cultural, and convenience-oriented services.

What Do Retirement Communities Offer?

If you’re looking for a sense of security, peace of mind, and independence to continue living your own lifestyle, retirement communities may be a good option to explore. They offer housing with amenities like housekeeping, a meal service, and companionship with like-minded singles and couples 55 and older. Some are built near senior-oriented facilities and services, such as a local nursing facility or home health agency, in case these needs later arise for residents.

Services and Amenities

Along with private housing, each retirement community offers a blend of services, such as:

• an optional meal service in a dining room, restaurant, or cafe
• common rooms like a lounge or library
• recreation facilities, such as a golf course, pool, or tennis courts
• housekeeping
• transportation
• social and cultural events (clubs, movies, lectures)
• an optional health clinic on site for an extra fee

The Cost of Retirement Communities

Prices generally follow the real estate market in their region–less expensive in small southern towns, more pricey in cities like Manhattan or resort areas like San Diego. Even within one location, prices vary widely depending on the size of a resident’s living space and the services and amenities offered. Most have a purchase price plus an entrance fee; some have monthly lease fees instead. You may also pay additional monthly fees for property and grounds upkeep.

Restrictions and conditions of reselling your property may exist. Every community has different ownership rights and responsibilities, outlined in its contract, such as to whom and when you can resell.

 

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