Average Cost Of Living In Retirement Community  

Many seniors who retire do not even think about moving to a retirement community because they believe that the cost is prohibitive. However, there are different types of retirement communities that can cater to all types of income groups. Some communities are located in urban areas, while others are in suburban areas. Also, the average cost of living in a retirement community depends on the type of house the retired person is looking for. Houses can range from a single bedroom home to a subsidized housing especially for low income seniors.

The cost of living in a retirement community is dependent on the type of facilities, amenities and features that the community has. If the community has many facilities and amenities, the cost will be high. On the other hand, if there are not too many facilities and amenities, the cost will not be high. Usually, the cheaper type of retirement communities caters to low income seniors and these charge a small percentage of the senior’s income. As these housing are subsidized, the major bulk of the cost is paid for by private or government run charities.

On the other hand, if the retirement community is well planned and has totally separate living accommodation for the retirees, the average cost of living in a retirement community could range anywhere from $1,000 to $3,000. In addition, the person would also have to buy the house. The monthly fee that the person pays would be for the common areas, utilities, taxes and services that the community offers the residents. Some retirement communities may also offer meals, linen and housekeeping for the monthly fee that the residents pay.

Hence, before deciding that a retirement community is too expensive, seniors should first weigh the pros and cons of moving to such a community. For one, they will definitely not be lonely or alone. In addition, they will keep themselves busy with a whole range of activities and being in company with people that have similar interests. Above all, retirement communities offer a safe haven to seniors, so that they do not have to worry about their safety and security.

While it may appear that the average cost of living in a retirement community is expensive, when you calculate all the perks and stress-free life that seniors can lead, it does not work out to be expensive. In fact, if offers seniors peace of mind and also allows them to do all the things that they were putting off while they were younger because of work and house pressures.

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Benefits Of Retirement Community      Most people wait for their retirement, as it is an opportunity to start doing all the things they put off while they were working. The years after retirement are not called golden years without a reason. However, in today’s economic scenario, indulging in one’s passion may not be good financial sense, as it could deplete life savings in a blink of an eye. Hence, many seniors opt for living in retirement communities. However, there are some who first want to know what are the benefits of retirement community. More..




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