People over 50 often have difficulty deciding whether to move into a 55+ community or live in their own homes. This decision can be even more difficult if they have financial limitations and need assistance with day-to-day activities. In this article, we’ll discuss the factors you should consider when deciding whether living on your own or in an independent living community is right for you:
Cost
If you’re looking to live on a budget, 55+ communities may not be right for you. In general, the cost of living in an age-restricted community is higher than living independently. When comparing prices between these two options, it’s important to understand that your monthly rent will probably be higher if you move into an age-restricted community. This is because maintenance costs are generally included in your rent—and those costs are generally higher at the 55+ level than they would be elsewhere.
Additionally, utilities (e.g., electricity) and other fees may also be included in your monthly fees or lease agreement with an age-restricted community—which can add up over time even if they aren’t extremely high individually!
Social Life
As you get older, it’s important to look at the social life of a community. On top of that, you need to consider how active the community is and how involved its residents are in the community. Are there activities for adults? Is there an active committee? Is there a gym or swimming pool on-site? These factors will help you decide if this 55+ community is right for you.
While living in an independent community can be great for your mental health, it also helps keep your body healthy! You’ll want to ask if they have opportunities to walk around with other people in the neighborhood every day. Both activities help reduce depression symptoms and improve memory function as we age.
If spending time with others isn’t important, then this probably isn’t right for you – but if being around others who share similar interests sounds like something that would make life easier, these communities can be great places where neighbors become friends!
Health Care
If you’re concerned about your health and want to be close to a medical facility, you may consider choosing a 55+ community. Many on-site nurses can connect residents with physicians or offer medical services themselves. Some even have doctors available 24/7, which is very helpful in emergencies. However, these communities charge a fee for health care services—typically $2,000 per year or more—and many residents must also pay an additional monthly fee to access this care.
Maintenance
When considering the costs of living in an independent community, it’s important to know that your maintenance responsibilities will be covered by someone other than you. In 55+ communities, residents are responsible for maintaining their units and yard — this includes cleaning and decorating their units. They may also be required to pay a monthly or quarterly maintenance fee which covers work done by on-site team members like landscapers and housekeepers.
Transportation
Transportation is another important consideration when choosing your living situation. How will you get around, both in your community and outside it? Do you have a car that can be parked on the premises? If so, where will you park? Are nearby public transportation options or taxi services you could regularly use if needed?
If not, are there options for transportation within the community, such as buses or shuttles, or must residents rely on private vehicles to get to their destinations? If so, how many miles from home does this service cover before switching to other modes of transportation (e.g., walking or biking)? Consider whether any of these modes would require additional fees for membership or usage costs; if so, how much would these costs add up over time compared with owning a car outright?
Conclusion
As you compare different 55+ communities, consider the factors discussed in this article. The most important thing is to make sure that the community meets your needs and that it has everything you need. You shouldn’t have to sacrifice quality just because of your age!
