Senior Communities

Discussion in 'Retirement & Leisure' started by Sheldon Scott, Aug 28, 2015.

  1. Sheldon Scott

    Sheldon Scott Supreme Member
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    Anyone live in a senior community or have info about them? Independent or assisted living? I'm thinking someday we might want or need to move to such a place.

    I think I would want to buy a condo rather than rent but I'm not sure.
     
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  2. Jenn Windey

    Jenn Windey Supreme Member
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    I do know something about condo living- When and if you decide to go that route make sure you look closely at the age of the structure and if possible ask what major repairs have been done in the last 5 years or so. Many times people buy a condo thinking it will be nice to be free of the chores that go with owning a home. For the most part that is true, the condo will cut the grass and shovel the snow, however from a financial standpoint you still have the same consideration as you would in a home, the difference is the costs are now communal and the decisions are made by a board of directors. What this means to the homeowner is depending on the board- you could find yourself in a situation where a condo is underfunded for a major repair and suddenly you have a huge assessment that could put you in a financial bind.

    The other thing about condo living is the type of condo that you buy makes a difference. The townhouses are nice options if you can get them. Some of the smaller 1 bedroom condo's have elements that are shared. You have to have it clear in your head that "community" and "shared" means that you will be living with certain things that will be beyond your control, like doors slamming or someone that leaves the wash in the dryer when you need to use it. With that being said it is probably the same in a senior village in that aspect, but regardless it is an adjustment. There is nothing worse then getting a great place at a wonderful price and having to share with a terrible neighbor. Given the choice I would buy a condo over renting.
     
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  3. Ken Anderson

    Ken Anderson Senior Staff
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    One of my brothers is somewhere in his seventies now. As a retired teacher, he has a home in the UP of Michigan, but has been going to Florida each winter. For several years, he used a combination of timeshares that he owned, or points from his timeshares, to spend a few months in Florida, although it required moving to a different timeshare from time to time. Then he bought a very small home on a leased lot that mostly has motor homes and trailers, although his is a stand-alone dwelling. He bought it outright, for not very much, so all he has are the lease payments and utilities. Plus, the park management rents it out for him during the months that he is back in Michigan which, he says, pretty much pays his expenses for the place. Both he and his wife have been working at Disney World during the winter months, so that works out very well for them. It's not a senior community in the sense that younger tenants are prohibited, but he doesn't know of anyone who isn't a senior living there.
     
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    Last edited: Aug 28, 2015
  4. Carlota Clemens

    Carlota Clemens Veteran Member
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    I am 55 now, but still believing that is worthless to buy any property because money I could spend on this, will serve me more to pay my expenses through senior life.

    I think that buying properties might only worth for people having children to whom inherit it, and yet many of us have heard stories about families fighting for those properties when the former owner passes away.

    I have heard of a few senior communities, but all of them assisted and many times I think that it may come the day when I would better like to live in a senior community, however I would prefer to do it in an independent facility if possible then.
     
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  5. Ike Willis

    Ike Willis Supreme Member
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    The building I live in was meant for seniors or disabled persons. There was a minimum age requirement. It was a quiet place to live, with mostly older people when I moved here. Somewhere along the way things changed. Now, younger people live here, complete with yapping little dogs. No kids yet though, except to visit.
     
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  6. Sheldon Scott

    Sheldon Scott Supreme Member
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    That's the downside of condo or apartment living Ike. Things can change.

    Still I'd rather buy than pay rent in most cases. If the stock market was more dependable and your money earning more than the cost of rent or if you weren't sure if this was the place for you the renting might be best.
     
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  7. Dave Sun

    Dave Sun Veteran Member
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    Sheldon. Google Palm Bay Colony, Palm Bay, FL. Just to give you an idea. Sure doesn't hurt to check out all that you can. We bought here in 1999. A very nice community. Dave
     
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  8. Sheldon Scott

    Sheldon Scott Supreme Member
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    I was hoping you'd comment Dave. I remember you lived in such a place half the year or so. I'll check out Palm Bay Colony.
     
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  9. Dave Sun

    Dave Sun Veteran Member
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    Ok, Sheldon. We are happy there and the nice part is we own our land, no rent. Taxes...$218.00.
     
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  10. Sheldon Scott

    Sheldon Scott Supreme Member
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    How about HOA fees? Utilities, and/or other expenses? How many homes are in the colony? Thanks for the info.
     
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  11. Dave Sun

    Dave Sun Veteran Member
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    Sheldon....about 500 homes. We are a deeded community and city owns the streets. HOA, $35.00 monthly but not required to join. Belonging gives you use of pool, dinners, dances, bingo and lots of extras. Surprising quiet at night. We are on Mango St. North. Very inexpensive place to live.There is two parks, tennis courts and shuffle board.
    They are, of course, mobile homes, strapped down very well.there are a few single wide but mostly doubles.
     
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  12. Dave Sun

    Dave Sun Veteran Member
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    Here is a map of our community. Don't hesitate to ask me anything you need. image.jpg
     
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  13. Corie Henson

    Corie Henson Veteran Member
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    My husband and I plan to stay in our house until our very end. This is our home and we wouldn't enjoy living in another place. Our recourse would be to hire caregivers when we cannot do it by ourselves anymore. Right now we have 2 housemaids that help us tend the house and care for the dogs. In our old age I guess we would need another housemaid or perhaps a caregiver.

    I have seen some nursing homes here being operated by civic organizations. The atmosphere is like a hospital and some of the patients there seem to have lost their sanity already. I don't think I would be comfortable there.
     
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  14. Pat Baker

    Pat Baker Supreme Member
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    I plan to purchase a home that has a lower level that I will convert into an apartment for myself, rent out the top floor for income and have my space in the lower level. I don't like high rise buildings or condos.
     
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  15. Maria James

    Maria James Veteran Member
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    I have heard about the place in new jersey which gives the best and comfortable independent living nj to the senior people and respite them to live there further lives in at most proper care and living!
     
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