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Deciding to move into a retirement community is a big decision on its own, but then narrowing down your options and choosing which one to move into is even more difficult. There’s a lot to consider: what kind of aid is available, what long-term living in the community looks like, how you fit into the community culture, and the cost.
Make a List of Must-Haves
Before you begin your search for possible communities, start by drafting a checklist with all of your must-haves. Include the kinds of care you need or foresee needing, the costs, what you want from the community, and more. This will help you immediately narrow down the list of options.
Take a Guided Tour and Explore on Your Own
Of course, you shouldn’t make any decision without at least taking a guided tour of the community and sitting down with someone to talk about it. This is a great time to ask questions, on a personal and logistical level, to see if the community would be a good fit for you. You may also walk around on your own to get a feel for what life might be like if you decide to move in.
Talk to the Residents
When visiting a retirement community, start conversations with others who already live there. Ask them what they think of the place. You can use this time to ask about specific things they like and dislike as well as things that are on your checklist of must-haves. You won’t get clearer, more honest answers than from those who already call the community home.
How to Finance It
Retirement communities often come with a large monthly fee. This is almost always higher than standard rent charges because they include a lot more than just a place to live. When you’ve found the right retirement community for you, consider how you’ll afford it. Is there enough money in your retirement and savings accounts to afford long-term living in the community you’ve chosen? If you come up short, you may consider selling an unneeded life insurance policy in a life settlement to increase your retirement funds and make affording to live in the community easier for you. If you’re ready to move into a retirement community and need extra money, use our qualification calculator to see if you’re eligible for a life settlement, or call us directly at 888.849.0887.