Homeowners Transition to a Retirement Village
There are many exciting things to look forward to during retirement, like having more time to chase grandchildren or picking up some new hobbies. However, there are plenty of challenges brought by this lifestyle shift, including home-owning seniors who are thinking of joining a retirement community or village.
Continue reading below as we cover some tips for retired seniors as they enter this new stage of life and make this transition.
Choose a Community Where You Fit in
One of the main draws of downsizing and joining a retirement community is that you can be surrounded by other retirees. This helps stave off the feelings of loneliness and isolation that are all too common during retirement.
However, it’s important to do your research and find a retirement community where you will fit in. Make sure you’re joining a community of people that have similar interests to you, and amenities you will enjoy. On your visits, take a look around and notice the demographics of the residents, and assess whether you’d feel like home alongside them.
Do your future neighbors appear happy? Do they seem welcoming? These are all important factors that can help you choose the right community for you.
Be Aware of the Rules
Many retirement communities and villages will have a number of rules and regulations associated with living on their property. Nearly all of them will have some sort of governing body like a homeowner’s association. They may regulate how many pets you have, how you can decorate the exterior of your home, and any restrictions on visits from younger guests.
Make sure you’re aware of these rules, how much the HOA fees are, what the HOA covers, and make a personal decision based on these factors. If you’re already used to living under an HOA, this may be no problem, while this may be new territory for others.
Assess How Well the Community is Run
Both cosmetically and financially, you want to make sure that the retirement community you’re joining is in good shape. When you’re leaving your previous homeowning life behind and joining one of these communities, you are joining a larger ecosystem that will have a large impact over how you live your remaining years.
When comparing retirement villages, you can request to see the past financial statements to determine whether they have enough money to continue operations, how adequately they budget their money, and whether residents are actually paying their HOA fees, among other things.
Plus, you may want to consider who is on the HOA board, how disciplined they have been in recent years, and any nagging issues that they continue to deal with year after year.
Of course, the transition to join a retirement community or village is a large lifestyle shift that depends on many factors. However, with the proper research and considerations, each person can find the right match to successfully integrate into a village where they’ll spend their final years.
Bailey Schramm is a writer in partnership with leading stethoscope distributor Stethoscope.com