A 55+ Retirement Community
A frequent question is: How can I determine if buying a share in a senior housing cooperative is better financially than simply renting an apartment in an age restricted facility? .
To help you the Cooperative has prepared a nine minute video that explains the steps necessary.
It can be a struggle at an older age making a decision to what is the best solution for what likely is your final residence. Part of the struggle is determining the financial consequences of it. Here is an attempt to provide a method of evaluation.
It is important to understand what the monthly fee covers and when a fee is artificially low. When fees are not commensurate with future costs it is not wise to skimp on paying an adequate monthly fee.
For those open to buying a senior cooperative home they often ask: “Why would I take some of the equity from the sale of my home and purchase a coop home share?” It is a valid question and deserves a response.
A Home Expense Calculator to determine if your taxable income is adequate to cover the costs of your home expenses.
Budgeting for healthcare costs in retirement is complicated. Using a tool like the Retiree Healthcare Budget Worksheet will help.