Family ... Facility Care
Five Things to Consider When Choosing the Right Retirement Community
By Lauren Messmer, By Design Solutions
Many older adults recognize the benefits of living in a retirement community: physical wellness, security and overall improvement in quality of life to name a few. While there are many factors to weigh when deciding on the community that is right for you, five of the most important ones are noted here.
- Amenities and Lifestyle: Communities vary greatly in their physical qualities and lifestyle. Ask yourself what is important to you. Is having a variety of dining options important to you? How about fitness and wellness? Do you need access to a pool or to golfing or tennis? Do you prefer a structured activities program? Perhaps you need to be surrounded by others who share your religious beliefs? Make a list of those items that are important to you. Rank them in order of importance. Take your list with you when you are researching your communities and be sure you know how each community you are considering fits your needs.
- Location, Location, Location: Finding a community the suits your location needs is crucial to your quality of life. What about the location of a community is important to you? Some older adults want to retire near their children while others are more interested in “going back home” or retiring where they grew up. What climate is important to you? Do you need a change of seasons? And ask yourself - Do you enjoy the hustle and bustle of an urban setting, or a more tranquil setting with views and vistas? Think about what surroundings make you happy and will support your chosen lifestyle.
- The Care Component: Retirement communities can be for independent living residents only or can provide various levels of care, whether assisted living, personal care, memory care or skilled nursing care. And, more and more retirement communities are striving to help their residents age in place for as long as possible. Some provide in-home health care to their independent living residents while others require a resident move to another level of care in a different part of the community when additional services are needed. Some communities have priority access to surrounding assisted living and skilled nursing facilities. Find out from the communities you are considering how their specific processes work and how they handle a situation when a resident needs additional care services.
- Financial Structure: Cost is certainly a factor for most older adults. When considering a retirement community, it is important to decide the financial structure that fits your needs. Some communities require upfront entrance fees in addition to a monthly service fee. These amounts can range from $75,000 to hundreds of thousands of dollars. They may be refundable to you or your estate, or the refundability may decline the longer you live at the community. These communities generally provide residents with extensive care services (a continuum of care) on the same campus. Typically, one’s house is sold in order to cover the cost of the entrance fee.
Other communities, rental communities, have a smaller upfront fee, perhaps equal to one or two month’s rent. However, the rental community may or may not provide the same amenities/services/care that the community with the larger entrance fee provides. All of these factors together need to shape your decision.
- The “Feel” of the Community: This may be the most important factor when choosing a community – how do you fit in? How does the community feel to you? Moving to a retirement community is typically the last move an older adult will make so feeling comfortable and feeling a part of the community is crucial. Spend time with other residents to get a “feel” for a place. Most communities will allow you to come and have dinner with the residents or join in on community events where residents are involved. The key is to be sure you are comfortable with how you would fit in before you actually make the move.
Lauren Messmer of By Design Solutions has worked with dozens of retirement communities across the United States in determining their key selling points and unique characteristics. She has helped numerous retirees find the ideal place for their retirement. Visit www.bydesignsolutions.net for more information about Lauren and By Design Solutions.