Questions to ask when considering an Active Adult Community

Questions to ask when considering an Active Adult Community

While many retirees welcome the idea of moving to a retirement community with enthusiasm, others may be reluctant to take this big step. Moving to a retirement community entails a change of lifestyle. Hence, here are some important questions and inquiries you may be...

Skincare tips for 55+ adults

Skincare tips for 55+ adults

Skin Aging is a natural process that happens when the skin starts to lose its ability to regenerate itself. Pigmentation, lack of elasticity, and alteration on the collagen fibers are some of the signs that indicate that this process is beginning. But don’t panic!...

How to stay physically active in retirement

How to stay physically active in retirement

Many people mistakenly think that aging equals a less active lifestyle. On the contrary, this is a time in our lives when we finally have free time after years of hard work, and can enjoy activities we’ve been longing to do. Plus, these activities can have a positive...

Ideas for hobbies after retirement

Ideas for hobbies after retirement

While in our forties we look forward to our time of retirement, we suddenly find ourselves trying to fill the hours in the day after that time finally comes. Retirement rewards us with rest after a lifetime of working tirelessly, but the sudden lack of activity can...

How to estimate your budget for a home in a 55+ community

Any big decision implies an investment and plenty of preparation. Planning a vacation, for example, requires thinking about where you want to go, where you’re going to stay and how much it will all cost, on a small scale. A well-organized trip leaves you lots of space and time to enjoy yourself. However, when it comes to large-scale planning and preparation such as moving to a new area, careful thought and planning are absolutely essential, so you can accurately estimate your budget and manage finances confidently.

Here are some tips for you to get organized and embark on this amazing life journey.

What do you want?

One of the first questions you should ask yourself is: where do you want to live? Knowing what you want is better so as to determine the budget you’ll need. Although it’s normal not knowing where you want to live (we all get indecisive), it does simplify things. It limits your spectrum of options so you can prepare a plan according to the prospective facility in mind. However, you can do it the other way round and ask yourself first…

What ‘s your budget?

Life expenses increase proportionally to your age. When you get older, you tend to have more expenses such as extra medical care, better housing, and a better overall lifestyle. Currently, it is estimated that an older adult’s average senior living costs range from $1,625 to $8,517.

That is why knowing exactly what your budget is makes things easier for you. This question can take place at the same time as the one above. You can limit your decision to what you can afford or vice versa.

Now, you’re ready to draft a personal budget. Be honest. It’s not necessary to lie to yourself.

Here is a list of things you should take into consideration when drawing up your budget:

  • Financial income: pension, investments, and small business.
  • Fixed expenses: rent, medical insurance, etc.
  • Variable expenses: Things like groceries and medications. These vary each month.
  • Credit card expenses.
  • Essential and discretionary expenses. This helps you to know which expenses you can disregard.

What do they offer?

After knowing what your budget is and where you want to live, check out what the community offers. You may have a global idea, but it is better to schedule a visit and inquire about certain prices such as:

  • What is the monthly payment?
  • Are there any entrance fees?
  • Are there any extra amenities? How much do they cost?
  • Is there any extra service provided by the 55+ community?
  • What about the security deposit and refund policy?

If you have any other questions, you can ask our team here at Corbinton. We will guide you and help you in any other inquiries about our active adult communities. Just contact us!