For many, owning a home gives a sense of comfort, security and control, and that doesn’t necessarily change as a person grows older. Many seniors today are uncomfortable with the idea of selling their home and moving to a retirement community with a large entrance fee and monthly rent. Instead, they would prefer to build equity while enjoying the advantages of carefree living. And thanks to an increasingly popular option, they can.
This option combines the elements of a continuing care retirement community (CCRC) — companionship, activities, wellness programs, dining and on-site health care if needed — with actual ownership of a home in that community. Thus, seniors can build equity, receive a return on investment,and enjoy a fabulous lifestyle in a full-service CCRC.
Other advantages of ownership: You enjoy the social and emotional benefits of owning a home without the maintenance.
You are free to customize your home any way you choose.
You continue to enjoy tax advantages.
You have more flexibility and control when it comes to your estate.
You have a true stake in decisions regarding the CCRC.
Once you’ve considered all the options, you might find that a CCRC offering ownership is the best fit for you.
Information provided by Rod Copple, Green Hills Retirement Community, 2200 Hamilton Drive, Ames, Iowa, (515) 296-5000, www.greenhillsrc.com.