How to Determine if You Are Ready to Move to a Continuing Care Retirement Community

A continuing care retirement community provides a continuum of care for seniors who live independently or who require various levels of assistance. Seniors may buy their own apartment or house and enter at the independent level of care.

Instructions

Difficulty: Moderately challenging

1. Think about buying into a continuing care retirement community (CCRC) if you and your spouse will soon need more help with daily living. In a CCRC you can remain as independent as you like, pulling in assistance as you need it.
2. Consider moving into a continuing care retirement community if you are feeling alone and depressed. They offer activities such as golf and tennis, and provide on-site entertainment, classes and discussions.
3. Look at your daily activities. Are you able to get out and visit friends or do your shopping? If not, you may want to consider moving into a CCRC, where social activities are close by and transportation is available when you wish to go out.
4. Do you need help today? Do you feel safe in your home, or are there stairs and other areas that make it unsafe for you? Can you do your own cooking, cleaning and laundry? If not, opt for the assisted living quarters of a CCRC.
5. Do you have family close by with whom you regularly interact? While a CCRC is not a substitute for family, it is a community of seniors you can engage with daily.
6. Note that when you enter a CCRC at the independent level, you may later make a transition into the skilled nursing or assisted living wings within the community should your needs change.

Tips & Warnings

• Understand that when you enter into a CCRC at the independent level, you purchase an apartment or house (prices can range from $150,000 to $300,000) and pay a monthly maintenance fee ranging from $1,500 to $3,500 per month.
• Monthly maintenance fees cover amenities such as housekeeping, upkeep of the grounds, transportation services, etc.
• Be sure to ask what type of reciprocal agreement the CCRC has with other CCRCs should the skilled nursing and assisted living wings be full at the time you need to make that transition.
• Remember that once you buy into a CCRC, you will not get the full purchase price back if you decide to sell. You may get up to 75 percent back on a prorated basis for a limited period of time.