Retirement Communities

An increasing number of communities around the country exist specifically to care for the needs of retirees. These retirement communities cover a wide range and provide an array of services specifically tailored to older adults who may need additional assistance or simply want the camaraderie of fellow retirees. Many retirement communities are also specifically designed around certain recreational activities, including beach resorts or golf courses, which offer unlimited golfing on private courses that can only be used by residents. McKnight’s Senior Living and Care Directory can help you find the right retirement community to fit your specific personal needs.

Why choose a retirement community?

There are many reasons why people choose to live in retirement communities. Reasons why often include:

• Sense of community
• Convenient location
• Social and recreational activities
• Nearby community center in many cases
• Pedestrian friendly in many cases
• Nearby health care services in many cases
• Ability to transition into assisted living facility at same location in many cases
• Property maintained by retirement community

How much do retirement communities cost?

The cost of owning a property in a retirement community can vary widely. Some retirement communities consist of independent homes located within the community. Other retirement communities include condominiums or apartments, often arranged around a central square, communal space or golf course. In other cases, retirement communities may be a combination of individual houses, condominiums and apartments located near each other within the same community.

Certain retirement communities also include medical facilities and doctor’s offices, where residents can receive medical care without having to travel far from their home.

The cost of living in a retirement community can vary widely. Like country clubs, some retirement communities charge a one-time entrance fee to live in the community, which can range from a few hundred to hundreds of thousands of dollars.

Many all-inclusive retirement communities also often charge monthly fees for services provided by the community, including maintaining the community (grass mowing, street cleaning, etc.) as well as al a carte services (laundry, in-home cleaning, dining, etc.) provided by the retirement community. Such monthly fees can vary from a few hundred to a few thousand dollars.

The cost of purchasing a property in a retirement community can vary widely as well. Like real estate around the country, prices for retirement community properties are based on many different factors, including:

• Location of retirement community
• Size of individual property
• Services offered by retirement community

Find a retirement community near you