How Do I Choose Between A Retirement Community And A Nursing Home?
Retirement communities offer an alternative to nursing homes. Here are some important things to consider when making this major lifetime choice.
Retirement communities, also known as continuing care retirement communities, often offer a nursing-home component.
Video: Finding a Retirement Community
Retirement communities typically provide three types of housing:
- Independent Living. This is for healthy, active senior citizens
- Assisted Living. Seniors who need some daily assistance, but still want independence, often choose assisted living quarters.
- Nursing Home. These units are for seniors requiring skilled nursing care. Should a resident’s condition improve, they can then move to more independent quarters.
Challenges and Costs
Transitioning to a retirement community after living in one’s own home comes with its own share of difficulties. After years of raising children, holding down a job, and having responsibility for most if not all aspects of one’s life, it’s hard to adjust to living in a situation where some parts of daily existence are beyond one’s control.
Social interaction can help with the transition. Look for a retirement community that offers a wide variety of activities and offers a sociable, welcoming environment. Visits from family and friends are also crucial in helping the adjustment go as smoothly as possible.
Before you make that transition, you’ll want to do thorough research to ensure that you’re getting the best value for your money. Military Officer Magazine offers a comparison chart of monthly living costs for a variety of housing situations ranging from one’s own home to an independent living home to an upscale life-care home.
For a life-care retirement home, the cost breakdown is as follows:
- Utilities: $0
- Real estate tax: $0
- Maintenance: $0
- Meals: $200
- Homeowner insurance: $0
- Monthly rent: $4,244
- Total out-of-pocket costs: $4,444
- Estimated lost interest after taxes: $670
- Total monthly costs: $5,114
- Entrance fee: $158,000
If you are a veteran and meet certain income standards, the U.S. Department of Veteran Affairs may be able to help with funding.
Community Activities And Benefits
Each facility differs when it comes to exact activities offered. However, many retirement communities offer a wide range of social, educational, and recreational activities such as casino nights, chili cook-offs, holiday celebrations, visits from community groups, and outings to places of interest.
Video: Assisted Living
Part of the advantage of living in a retirement community is that many chores are taken off the senior citizen’s plate. These include meal preparation, housekeeping, transportation, and personal assistance.
Here is a list of major needs that can be met by living in a retirement community:
- Medical assistance
- Assistance with daily living functions
- Planning of social activities
- The presence of a wide variety of housing to meet individual needs
- Security
- Specialized services
- Around-the-clock staff and services
- The ability to “age in place” without needing to continually adapt one’s living situation
- Wellness and fitness centers
- Pastoral and religious services
Since specific offerings vary by facility, be sure to do research before signing on the dotted line.