In previous blogs we discussed planning for retirement, including the financial aspects as well as suggestions for what to do with the newfound time in your schedule. Another important decision you will need to make is where you will live during your retirement years. Let’s take a look at the three most common choices.
Continuing Care Retirement Communities (CCRCs)
CCRCs offer housing styles that range from large carriage-homes to cottages and studios, to one and two-bedroom apartments. The main feature that sets them apart is healthcare; healthcare is the reason that these communities tend to be the most expensive. With Assisted Living and Skilled Nursing Facilities on-site, CCRCs offer residents the assurance that their healthcare needs will be met for the rest of their lives.
Disadvantages
High cost is the main disadvantage. Residents can expect monthly fees from $$ to $$per month. Aside from the high monthly costs of CCRCs, other disadvantages include high entrance fees, rigid evaluation of financial status and non-refundable fees if you move out.
Active Adult Communities
These are 55 years of age and older communities that offer various types of homeownership, and usually involve fee simple deeded ownership and an elected association leadership. Housing varieties include stick-built or modular homes on leased land, or condominium homes or apartments. Eighty percent (80%) of residents must be 55 years of age or older. active adult community residents or their estates have the ability to resell their homes. Some people like the fact that healthcare services are not included, so they can keep their individual healthcare insurance plans.
Disadvantages
Amenities are usually limited in these communities; they may have a clubhouse, but no community center. The ownership and ultimately the decisions and management of the community is in the hands of a 51% vote of the residents. In addition, residents are usually required to pay real estate taxes and utilities and may be required to cut their own grass and shovel snow. Many of the units and facilities are not handicap assessable or adaptable.
Independent Retirement Communities (Sanatoga Ridge)
An Independent Retirement Community, Sanatoga Ridge stands out among other options for retirement living because it offers many of the advantages of the other types without the accompanying disadvantages:
- Sanatoga offers a variety of housing choices, including 1-, 2- and 3-bedroom single homes; 1- and 2- bedroom garden apartments or specially designed homes for those looking for unique living spaces.
- Living spaces are easily adaptable to be ADA compliant, allowing individuals with disabilities to remain in their own homes.
- The affordable monthly fee covers a comprehensive array of amenities and services, including:
- Taxes and insurance
- Sewer and water
- Snow removal
- Mowing and landscaping
- Interior and exterior maintenance
- 24-hour emergency response system for home maintenance needs
- Free repair or replacement of faulty appliances
- The Community Center includes exercise, club, and game rooms as well as an auditorium with live entertainment, movies, and other activities.
- A shuttle bus travels to local and regional entertainment and educational venues.
- Residents have independence and flexibility with their personal healthcare choices.
If you’d like to see for yourself what makes Sanatoga Ridge unique among retirement living choices, schedule an in-person tour today by calling 610.326.6282 or take a virtual tour by visiting www.SanatogaRidge.com.