What Is Retirement Living?

What is Retirement Living?

Retirement living is the broad term used to describe many types of housing options for people age fifty-five or older.  In our area, the options for Retirement Living are:

Retirement Communities – this type of community is most frequently an apartment-style building or cottage-style homes or town homes with additional services provided such as meals, housekeeping and activities.  Most retirement living is offered on a monthly rental basis.

Continuing Care Retirement – Residents typically pay an “Entrance Fee” upon move-in to the community.  Some CCRCs offer a full or partial refund of Entrance Fee, others do not.  Monthly service fees also apply.  These communities also offer services such as meals, housekeeping and activities.  In addition, CCRCs offer a continuum of care with assisted living, skilled nursing, rehabilitation services, and perhaps dementia care.

55+ Communities – Most often comprised of single level, easy-maintenance homes, town homes, apartment-style homes, modular homes or trailer homes.  Fifty-five plus communities may be fee simple (you own your home and the land), or you may prefer considering rental options.

Condominiums & Town homes – If your preference is to simplify your life in regards to owning a home, a condominium or town home may be of interest to you.  You can either consider owning the condominium or town home; or you may prefer renting your home.

Apartment living – Monthly rental with no services available, other than those which can be arranged to be brought into your apartment home.  Most apartment living is not age restrictive.

Services such as housekeeping, meal preparation, errand running, transportation and even personal care services can be arranged in any of these settings.

For assistance in knowing specifically what options exist for you, please call CHOICE at 800-361-0138