How to Choose a Retirement Community
Finding your perfect retirement home
How you choose a retirement community is one of the most important decisions you make when planning your Baby Boomer retirement. Generally speaking, retirement communities are classified one of two ways – either ‘age targeted’, or ‘age restricted’. Age restricted retirement communities do not allow anyone younger than 55 to purchase a home and may have some extremely strict rules on how long family members of certain ages may visit. An age-targeted retirement community will not restrict the purchase of a home by a buyer younger than 55, but the amenities and demographics will be targeted toward retirees. Either way you choose a retirement community, you will undoubtedly have the opportunity to interact with new people with whom you share common ground, interests, and activities, while enjoying a retirement lifestyle you’ve always wanted! Here are some tips to help chose a retirement community: 1. Ask around for anyone who might have already chosen a retirement community. A lot of times, friends or family members know of someone who has already gone before you – there is nothing better than hearing through a friend about their experiences when choosing a retirement community. 2. Make a list of what retirement activities are most important to you. Do you enjoy recreation such as golf, fishing, boating, swimming, or exercising? Make a list of your favorite pastimes and search for retirement communities that may offer these. Check into the clubs, groups, and activities that the retirement community you are looking into offers. Make sure you choose a retirement community that will satisfy your interests. 3. Investigate online. Most retirement communities have good websites that offer lots of information – videos, testimonials, descriptions of the area, and other juicy information you would want to know before you decide on a place to retire. This information can really help you choose a retirement community. For example, Terra Vista of Citrus Hills has a very informative website, and knowledgeable staff available to answer your questions. 4. Calculate the costs. An affordable retirement solution is extremely important. Consider that your home is a one your most important investments, and key part of your estate plan. Calculate the cost of living in the retirement community you are looking into. Generally, places like Florida offer a cheaper cost of living, while other areas may be more expensive. Be aware of “hidden costs.” Some retirement communities have a "CDD" – which means that the community builders will take out loans on your mortgage which will increase your monthly mortgage costs. 5. Find a retirement location that offers superior health care. As you look forward to the future, great Baby Boomer health care options are extremely important. Look around for a retirement community in a location that has a reputation for excellent health care! Plan for healthy aging and enjoying your longevity. 6. Take a tour! Schedule a mini-vacation to go visit, and compare, one or more retirement communities. Most retirement communities offer 2 or 3 night stays in their retirement community so you can receive a great tour, and experience a taste of what you may be looking forward to in the future. While you’re there visit with current residents and some of the staff. Residents will give you an inside picture of what it will be like to live in the community, and by talking to the staff you’ll get a good idea of how you’ll be treated.
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