When it comes time to choose a senior living community for you or a loved one, one of the biggest decisions you’ll need to face is what “type” of community will work for you: an entrance-fee community or a rental community.
“What do retirement communities cost? That’s a hard question to answer in one sentence,” says Laurie Ralston, Marketing Director at Kingswood Senior Living. “A Life Plan or CCRC senior living community will have an entrance fee that may seem excessive at first, but has benefits that you won’t get from a rental-style community. You’ll need to compare the costs with the benefits you’ll receive at each community to determine the true value of a retirement community for you or a loved one.”
Laurie says that the best choice will depend on your personal health needs, risk tolerance and attitude toward what’s needed for you or a loved one in your senior years.
What Does CCRC mean?
CCRC stands for Continuing Care Retirement Communities, also known as Life Plan Communities. These types of communities are designed to be homes for life with all levels of care available on campus. They’re a good choice for seniors who want the peace of mind that comes from never having to move again.
What Is a Rental Community?
A rental community is exactly what it sounds like – a community where you “rent” your living space without paying an entrance fee. A rental-style community doesn’t require a buy-in entrance fee. Instead, it’s more like renting an apartment: You pay a deposit and then a monthly fee after that. Depending on what your care needs are, the monthly cost would increase if you require assisted living, skilled nursing, or memory care services. In addition, rental communities may not include higher levels of care on-site, requiring another move should you need them.
What Do Retirement Communities Cost?
That’s not an easy question to answer because Life Plan or CCRCs offer a full spectrum of care that you’re assured after you pay an entrance fee to join the community. You’ll pay a monthly fee for the rest of your stay in that community which may flex depending on the level of care and services you need.
What Option Is Right for Me?
There’s no clear-cut answer to whether an entrance fee or rental community is right for you. It all depends on what you want out of your senior years. For example, do you prefer the peace of mind of never having to move again, no matter how your health needs might change in the future? Do you prefer to pay an entrance fee that buys you security for your future? Or, would you prefer to move somewhere that gives you the flexibility to change locations if you decide to do so?
Truthfully, when it comes to senior lifestyle options, there are a lot of choices. Choose the option that can provide you with an engaging, fulfilling lifestyle filled with choices, amenities, services and social opportunities. After all, you’ve worked hard to have a carefree, maintenance-free lifestyle that frees you up to do the things you want to do instead of things you have to do.
“Ultimately, no one can make the choice for you,” says Laurie. “At Kingswood, our one-time entrance fee ensures that our residents receive priority access to health care and services at a discounted rate for the rest of their lives, which can be wonderful for their peace of mind. Many of our residents come to live with us so that they never have to worry again about what the future holds. When you move to a community like Kingswood, you are giving yourself and your family the gift of peace and comfort: You’ll never have to move again and will never have to move away from the place you know as home.”
Welcome to Kansas City’s Senior Living Sweet Spot.
Inspired senior living at Kingswood means living the retirement lifestyle you want – and deserve. We take care of most routine chores and maintenance, so you can keep enjoying all the things you love about living in Kansas City. And you have more time to try new things and have new adventures.
All of the activities and amenities are here to do more than just keep you busy. They’re here to enhance your whole life. It’s an intentional, holistic approach that helps you live healthier and happier. And, of course, you have plenty of opportunities to relax and enjoy the simple pleasures in life, like spending time with friends and family.
Our Life Plan Community offers all levels of care right on campus, from Independent Living and Assisted Living to Memory Support, Short-Term Rehabilitation and Long-Term Nursing Care.
Because Kingswood is a Life Plan Community, you can enjoy your independent lifestyle now and be assured all levels of care are available on site when you need it, at a discounted rate for life. This is an outstanding senior living value because you are assured access to care in the comfort of familiar surroundings. When combined with our maintenance-provided lifestyle, a Life Plan Community represents an affordable option providing value beyond your current home and other senior living community offerings … and peace of mind for a lifetime.
Contact us today to schedule your personal visit. 816-287-1053