There are many variables to consider when thinking about aging in place vs. moving to a Continuing Care Retirement Community. Of course your finances are on your mind when you’re thinking about your future plans. You have to make sure you’re financially stable enough to support your future. A CCRC may be more affordable than you think, and is in many cases a better financial decision than staying in your current home.
At Searstone, it’s our goal to help you understand the realities and make your day-to-day life easier, all while providing you with a stable support system to enhance your quality of life.
Not all communities are designed the same. That’s why finding the right one for you or your loved one is crucial to a superb experience. We understand it can be confusing to begin this process as you begin to take the step towards retirement, but we want to help make it easier to digest, especially the financial aspects. Find out how The Highview at Searstone can meet your needs and give you the retirement lifestyle you deserve.
Leave the Maintenance and Expenses Behind
Many seniors weigh the pros and cons between staying in their home and moving to a senior living community. It’s a common misconception that retirement communities are more expensive than aging in place, but that may not always be the case. Think about all the money you spend maintaining your current residence. Small day-to-day or weekly expenses add up. And then, think about all the time you spend on this upkeep.
Costly appliances like the dishwasher and refrigerator need repairs or even replacements. Seasonal maintenance like lawn services can also weigh heavily on your bank account. But the stress of this upkeep goes away when you live at a CCRC. At The Highview at Searstone, the landscape will always be perfectly groomed. Regular housekeeping and linen service will keep your place tidy. You’ll get to enjoy all the benefits of having your own independent living apartment, without any of the struggles of dealing with maintenance. Plus, you no longer have to pay for expenses like property taxes, homeowner’s insurance, or utility bills.
In addition to an entrance fee, all of the costs of living at Searstone are packaged up to make up your monthly fee, consolidating your expenses and in many cases, saving you money down the road. Both the entrance fee and the monthly fee can vary, depending on the size of the apartment home and the number of residents. Check out our Affordability Calculator to find out which type of residence may be the best fit for you financially.
Convenient Health Care When You Need it
While home expenses are a crucial element of determining your retirement plans, your health must also be at the forefront of your decision. One of the main benefits of living at a CCRC is that healthcare is just steps away. You won’t have to deal with inconvenient drives to doctor appointments, and you won’t have to travel a long way should emergency care be needed.
Health care services can also be very costly, but at Searstone, you have a proven way to control costs. With Life Care, your rates don’t change dramatically even if your health needs do. Life Care may also provide significant asset preservation and potential tax advantages for seniors, and works well with or without a Long-Term Care Insurance plan.
And there are different options available based on your needs and what type of health services you will require, including assisted living, skilled nursing, and memory support.
Take a look at the chart below. This shows how much you’d be paying for typical health care services outside of a CCRC. While you’re at Searstone, there won’t be any surprises.
The Cost of Waiting
You may be hesitant to sacrifice your home for all the benefits of a CCRC, but you may find that independent living could be more convenient and luxurious than you imagined. Understanding a little more about what is included with your fees can also help you realize why moving to a senior living community is a financially savvy decision.
Of course, it is challenging to choose the ideal senior living community for you or a loved one. There are many factors to consider such as location, amenities offered, and health care provided. As with any big decision, it can be scary to make the move, especially when you are healthy and feeling content in your current lifestyle. However, delaying the decision can come with a cost. Over time, your choices may become limited–waitlists can get longer, and rates will likely increase over time, ultimately costing you more time and money. Unexpected changes in your health can force you and your family into making a quick decision based on what’s available and affordable at that time. In other words, spending too much time thinking through all the options now, can lead to not having many options when you need them most.
Many current Searstone residents have told us they wish they hadn’t waited so long to join the community. Not only could making the move sooner save you money, it will also give you years of independence and freedom in an active, inviting setting. The more independent you are when you become a resident, the more you can take advantage of the many amenities and wellness programs available. Check out these videos to hear more from our residents firsthand.
If you can see yourself spending your retirement with us, all it takes is a fully-refundable deposit to hold your place while you solidify your decision. Your hassle-free lifestyle awaits in one of the best places to retire in North Carolina.