Traditional retirement communities offer over 55 adults an economic housing option for leading active and independent lifestyles. Usually age-restricted, these neighborhoods may consist of single-family homes, condos, or duplexes. Such communities are favorable to retirees who do not require constant medical attention and also no longer wish to perform regular home maintenance. A homeowners’ association fee usually covers services such as lawn care and snow removal, as well as a variety of amenities.
Continuing care retirement communities (CCRC) similarly offer active and social lifestyles with the added feature of accommodations that are commonly found in assisted living or nursing home care. In a CCRC, there may be nurses, dietary aides, or personal care assistants available to residents.
Click here to read the best active adult and retirement community articles!
Common services in most retirement communities include:
Additional services a CCRC may feature:
Common amenities in most retirement communities include:
Remember to ask which services and amenities are included and which cost extra!
The cost of any home in a retirement community usually follows market value within its location. Though each community is different, expenses usually include a homeowner association fee. CCRCs will commonly require an entry fee as well, which may be partially refundable, subject to a contract. The average monthly cost overall is between $3,000 and $5,000, though the price will vary largely depending on the type and number of amenities available.
Traditional retirement communities and CCRCs can be found across the country.
Bob Carlson, America's leading retirement expert, reveals the big secret the IRS won't tell you.