The following is a guest post with a review of some information you may find helpful if you, or a relative, are thinking about moving to a retirement community.
Finding the Ideal Retirement Community
Rewind back to the time you were searching for your first
home. The hunt was exciting—oh, the possibilities! Then, before long,
the search became aggravating. Then overwhelming.
Because when we look for a place to lay our heads, we’re
looking at more than just the indoor space and style of the home. We’re looking
at the neighborhood. We’re looking at our community. We’re looking at the services
and amenities in the surrounding area. We’re looking at our neighbors – will we
like them?
But as we age, our priorities change. We no longer need (or
want) the 5-bed, 2.5-bath house and some land. More rooms mean more cleaning.
And more land means more back-aching yard work. Yet, wherever we decide to go,
we still want readily available the same services, amenities and friendly
neighbors we had with our first homes. Often, our gazes shift to
retirement communities.
And the search begins all over again.
With retirement communities, there’s a lot to consider.
If you or a relative are beginning the search for a new home, the good news is
that there are more retirement lifestyle options available today than ever
before. That being said, it’s important to be well-informed, so here are a few
key points to keep in mind.
Living La Vida
Retirement
What would you choose to do with your spare time? Would you play golf, dine at high-end
restaurants, attend plays and concerts, tinker in the garden, socialize with
neighbors, read the classics, or paint?
We all want the same thing, and that’s a customizable
lifestyle. It’s imperative for all
thriving communities (retirement or not) to accommodate hobbies and activities
– choices should be the cornerstone of any retirement community worth its salt.
Look for a retirement community that
accommodates the lifestyle you want to lead – a place that includes the types
of programs and amenities you enjoy now, as well as plan on enjoying in the
future now that there is more free time.
Smart Thinking
Opportunities for lifelong learning are critical to
maintaining independence as we age. It’s devastating for anyone to watch a
spouse, friend, or relative decline into a form of dementia like Alzheimer’s – exercising the brain
is just as important as working out the body. Physical exercise has
been proven to maintain and even improve our memory by increasing the size of
the hippocampus, the area of the brain involved in learning and memory (see
study findings here).
The Rush Memory and Aging Project, conducted in 2012 with more
than 1,200 elders participating, showed that increased cognitive activity in
older adults slowed their decline in brain function and decreased their
risk of mild cognitive impairment. The study showed that cognitively active seniors, whose average age was 80, were 2.6 times
less likely to develop Alzheimer’s disease and dementia than seniors with
less cognitive activity.
Thus we can see the overwhelming importance of finding a
retirement community that encourages mental activity with dedicating programming
and an overall active community lifestyle. Ensure you are in an
environment that provides challenges to think critically and actively participate
in the community.
Understanding a la
Carte Amenities and Monthly Fees
Most retirement communities have some type of monthly fee
associated with the overall cost of living. However, all of them tend to be
distinctly different. There are retirement communities that rival the grandeur
of the Masters PGA Tour, and other communities that resemble Hawaiian spa
retreats with the robust amenities and facilities offered.
Whatever the amenities at the community, be sure to
determine which of those are included in the monthly fee. Is that exercise
class included or is it an additional charge? Then decide what is most attractive. Make a
list of amenities you value; then prioritize that list. Compare the must-haves
with the nice-to-haves, and determine how many of each are included in the
monthly fee. Nobody likes hidden fees
and additional charges.
Moving On Up
If this will be the last real estate search you hope to conduct, then choose a community that provides healthcare options
as you age.
Many retirement communities start residents off in
independent living with the option to transition to assisted living as their
needs change. Options for increased care as they age are critical to finding a
place that sticks.
So be sure to ask the following questions:
·
Are there medical specialists on staff and on
site?
·
Are there daily services available for managing
medications?
·
Are accommodations made for residents undergoing
physical therapy?
·
Is programming available to mitigate or improve
existing chronic conditions?
·
Will you have the option of transitioning into increased
levels of care within the community?
If the answer to any of these questions is “No,” that
retirement community may not be the best fit.
Talking Turkey
You wouldn't buy a home without a careful inspection. And
you certainly wouldn't invest in real estate if there were liens on the
property. So have that uncomfortable money conversation with the retirement
community – and we’re not talking just about your own investment:
·
Ask to see their quarterly financial statements.
·
Inquire about your direct costs: entry fees,
monthly fees and health care services.
·
Find out whether the retirement community is a
for-profit or a not-for-profit. Not-for-profit facilities reinvest profits and
proceeds into the community to benefit residents. For-profits use those dollars
to pay investors.
Happy Home Search!
You want your next chapter to be. So don’t compromise as you search for the ideal retirement community.
To summarize: Your best option will 1.) accommodate your
lifestyle, 2.) offer lifelong learning opportunities, 3.) provide intellectual
and exercise programming, 4.) allow you to age in place, 5.) and,
frankly, won’t break the bank.
Happy hunting!
The author, Rob Lucarelli, is the director of communications for Judson Services, Inc., a not-for-profit organization that has served older adults in Cleveland, Ohio since 1906.
Satisfying Retirement received no compensation for this article.