Senior Housing - What's best?
Architect’s drawing of the proposed Parkshore at Juanita retirement community
Senior Housing – What’s Best?
We moved to our current home over 25 years ago. At the time, when we were in our late 40’s, we joked that it was perfect for “aging in place” since the building has an elevator, the location is within walking distance of almost anything we might need, the hallways and doors are wide, and there’s a generous amount of storage. As an added bonus, a senior center is across the street and a transit hub is a block away. There’s even a hotel across the street to accommodate guests!
Now in our 70’s, why are we investigating senior facilities? At first, it may have just been curiosity. My aunt lived for 41 years in her retirement community in Portland, OR. She and her husband used to joke that they were taken such good care of, that they would live a very long time, which my aunt did, passing away just before she turned 102. We visited there often, especially during the 12 years I supervised my aunt’s care and finances. My husband’s parents resided in their life care facility in Scottsdale, AZ, for nearly 20 years, taking advantage of all levels of care that were offered. My father-in-law lived to age 100. During our visits with these relatives, our family became accustomed to how those facilities operated, but we don’t know how they compare to newer facilities in our area. Because of our family’s experience, I often discuss with others the benefits of retirement homes and have occasionally accompanied friends to information sessions to learn more about what’s available locally.
My curiosity about options for seniors could be transformed into an actual desire to move, if the circumstances were right. My husband and I have always been inclined to plan ahead for contingencies, so thinking about a time when one of us might experience a disability fits in with the way we have always lived our lives. At one time, we thought we could not afford the high fees of the type of facilities our family members lived in, but a recent consultation with a financial planner convinced us that we could afford the move. My father-in-law once explained his reasoning for picking a life care facility. He knew his children and grandchildren lived far away and he did not want to burden us with responsibility for his care or for selecting a care facility. My husband and I are in a similar situation. We have two children and six grandchildren all living far away and both of our children have demanding careers. Expecting them to help with challenges related to aging is not realistic.
There are also practical reasons for considering such a move. We would love to have someone else cook meals for us once a day. We would love to have staff that would help with home maintenance matters. Even though we currently live in a condo, there are many household tasks we would happily give up. Then there’s the appeal of moving to a new home, with new carpet, paint and appliances, and an excuse to redecorate. Finally, there’s the opportunity to make new friends and to participate in activities with other residents.
As I have learned about various senior living options, I’ve found that most have characteristics I don’t like, such as a location I would prefer not to live in. If I find a facility I really like, in a location where I’d enjoy living, it might be necessary to make a commitment to move sooner than might seem necessary. This is because desirable developments often have waiting lists and strict move-in standards. They won’t accept new residents who do not have adequate income and good health. In other words, if a person waits until they experience an actual disability which forces a move, a home in the most desired new community is not likely to be available.
One of the communities we are considering has announced that they will offer contracts to new residents beginning this fall. Once we meet with them and get a chance to review the actual contract terms, they are only allowing three days to make a decision, before they move onto the next person on their reservation list. If we don’t make a commitment at that time, our names would go to the bottom of the list, meaning that the unit we desire will not likely be available when we decide we are ready, the prices are likely to have gone up, and there could be a long wait for any unit to become available. Furthermore, the longer we wait, the greater the chance that a health problem will intervene which would eliminate our eligibility for a continuing care facility.
Continuing or life care facilities offer various levels of care, such as independent living, memory care, assisted living and nursing care. Such facilities require a substantial buy-in and, in exchange for that financial commitment, the facility promises to provide a higher level of care when it is needed. The financial arrangements differ depending on the specific contract of the facility and the size of the unit selected. Other types of care facilities offer more limited care options, usually require a deposit or community fee to move in, but not a substantial buy-in, and offer contracts which might be as short as month-to-month.
There are risks involved in the move we are contemplating. What if we don’t like our new apartment or neighbors? How much of a financial sacrifice would we suffer with a second move and where would we move to? How financially secure are the buy-in funds? If the developer or management company had financial problems would we lose our home or suffer a dramatic change in the quality of services provided? How much protection is there that monthly fees won’t rise substantially in the future? Even when different levels of care are theoretically available, what happens if those accommodations are at capacity or if one of us has a medical condition that requires a different type of care than what is offered?
It appears that my hobby for the coming months will be learning more about these options, investigating the reputation of the developer and management companies, and trying to reach an agreement with my husband about what is best for us. There are risks involved with all choices, so we need to consider the risks we are most willing to accept.
Feedback:
Liz T. - This association of residents (https://waccra.org) is worth checking out. I am a founding member and supporter. WACCRA works to educate, collaborate and advocate on federal and state issues affecting Continuing Care Retirement Community residents and other seniors.