Purchasing A Home in A Retirement Community

By Karl Edmunds ::

Too many seniors regret rushing into their first purchase in a retirement community. Some retirement communities are staffed with highly effective sales people whose stated objective is to get a decision or financial deposit quickly, if not on the first visit. And they know just the buttons to push to achieve this goal. Others are visually appealing but all the facts needed for a good decision were not considered.

In most cases, decisions made in a rush and based on emotions are not good in the long run. A more careful and thoughtful approach for most seniors is needed.

First think about what the highest attraction factors are likely to be in your decision. For example some are absolutely sure they want a community that has warm, moderate weather. Others are drawn only to beach locations. Still others seek out small towns in specific geographic locations such as the mid-west, Great Lakes or desert southwest.

According to a new Biz journals study, they identified the most popular retirement communities in 10 groups with differing interests of the prospective retirees. The defined categories focused on markets with similar characteristics.

The following is the Biz Journal’s summary of top categories:

Urban markets: Sarasota-Bradenton, Fla., tops this list, which is restricted to metropolitan areas with at least half a million people.

Small towns: The Gardnerville Ranchos micropolitan area, with 47,000 residents, is first here, followed by another Nevada town, Pahrump. This category is limited to places with fewer than 50,000 people.

Florida: Punta Gorda tops this grouping, the only one that’s confined to a single state. Homosassa Springs and Sebring are the runners-up.

Rest of the Deep South: Del Rio, Texas, is the hottest option for retirees who want a warm-weather alternative to Florida. Markets in South Carolina and Georgia also score well.

Atlantic Coast (Maine to North Carolina): This category encompasses a wide range of climates. Ocean Pines, Md., with its popular beaches, ranks No. 1. But colder places in Massachusetts and Maine also make the top 10.

Great Lakes: Michigan has emerged as a popular retirement option in the past 25 years, a trend reflected in these standings. Three Michigan areas top the list, with Alpena in first place.

Pacific Coast: Don’t look for California here. It doesn’t have a single entry in the top 10. The leader is Brookings, Ore., followed by Port Angeles, Wash.
Mountains: Both halves of America are represented in this topographical category. No. 1 Gardnerville Ranchos is far west of the Mississippi River, while No. 2 Crossville, Tenn., is well to the east.

Southwest: Pahrump, Nev., is the winner in this group, which takes in the deserts and tablelands of six states. Silver City, N.M., and Lake Havasu City, Ariz., round out the top three.
Great Plains: Flatlanders find Albert Lea, Minn., most appealing. It’s one of five Minnesota communities among this category’s 10 leaders. Iowa and South Dakota have two entries each.

A few of the key questions to consider for any potential selections are:
What is the monthly cost of an independent retirement living or assisted living apartment or unit? But don’t stop there. Be sure to ask about:

• “up front” fees or deposits
• Entry fees
• Types of agreements required
• Early termination provisions
• Services included
• Types and frequency of meals served
• Parking and visitation rules
• Levels of care
• Nursing and Medical staff on-site
• Activities offered
• Transportation offered/costs
• Security, fire detection
• Medicare and/or Medicaid certified
• Examine visual cleanliness and organization
• Availability of personal care-beauty, barber etc
• References of current residents
• Overall feeling of the environment

Do not be rushed into a decision. Ask plenty of questions and seek outside opinions before making final commitments. This approach will ensure a high quality and enduring experience. Then just enjoy!
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About the Author

For more than 20 years, Karl Edmunds has been a noted author within the business and management consulting arena. As a senior, he now engages his curiosity and observations about life to write about key issues of importance to the growing community of seniors (Boomers), and the value of living life to the fullest every single day. Give me your comments and suggests at http://For-Seniors.org