When trying to plan for retirement, choosing where to live is an important decision. You may want to find a home that is easy to maintain, makes it easy to find friends who share your interests, and supports you no matter what health conditions or care needs might arise. A continuing care retirement community (CCRC), also known as a life plan community, checks every item on the list and gives you the best way to plan for the future. Here, we share some factors to consider when you choose a CCRC.

What is a CCRC?

A continuing care retirement community (CCRC) is a senior living community that offers a continuum of different care types, from independent living to assisted living to skilled nursing, on one campus. The benefits of living in a CCRC include access to luxury amenities and resources, as well as peace of mind in knowing that should you ever need additional support, you won’t have to find a new community to meet those needs. Instead, you’ll be able to stay in the community, just moving to another level of care, either short-term or long-term.

Choosing a CCRC can feel overwhelming. Here are a few considerations to keep in mind as you begin researching online and in person.

Location

As with any real estate decision, your choice begins with finding a location. You might choose an area that is close to family so they can easily visit, or you might choose a location based on your favorite neighborhood. 

Keep in mind that CCRCs, while popular and common, are not necessarily in every town. You might have to widen your radius in order to find a community that you love.

Costs and future expenses

Once you narrow your options based on location preference, it’s time to look at finances. It’s important to know if you can afford a CCRC now and in the future.

First, determine the types of contracts available at the CCRCs you are researching. In general, CCRCs offer the following main contract types:

• Type A (life care contract): Residents pay a large upfront cost for their home, which is on par with local real estate rates. They also pay a monthly fee that does not increase as care needs grow. 
• Type B (modified contract): Residents pay a lower entrance and monthly fee for a set amount of care. Once that limit is passed, the monthly fee increases to reflect the greater care provided.
• Type C (fee-for-service contract): Residents pay a lower buy-in fee and monthly fees. As additional care is needed, that fee will increase to reflect the additional care provided.

There are additional options for contracts as well, and not every CCRC community offers every type of contract. Work with a financial advisor to talk about your CCRC goals and how you can best fit expenses into your budget.

Types of homes available

Most adults who move to a CCRC start out in the independent living area of the campus. You’ll want to find a home that suits your preferences. For example, you might choose to skip looking at a carriage home or duplex because you don’t want to maintain a larger space, or you might look for a two-bedroom apartment because you’d like to transform the second bedroom into an office or craft space. Consider what you need, and remember that downsizing possessions and space can help to clear your mind, reduce time spent cleaning, and leave more time for enjoying amenities.

Waitlist timeframe

Early planning becomes important when considering a move to a CCRC, as many have waitlists. When you are researching your options, talk with a community representative about waitlists, including how long the current wait is estimated to be and how that timeframe changes based on the type of home or contract you prefer.

Amenities and services

Living in a continuing care retirement community is like living in a small town that is focused on hospitality and amenities. You want to be able to take advantage of services and amenities that you find enjoyable and that will help you meet your wellness goals. If you love to golf, look for a community that sits on a golf course, has a putting green, or has discounted fees at a nearby course. If you are a gardener, look for a community with community garden plots and a gardening club. 

You’ll find that just like other small towns, each CCRC has its own culture and atmosphere. Look for a community that highlights your interests and preferences.

Medical support and resources

Living at a continuing care retirement community should help you feel your best. One way a community can accomplish that is by providing easy access to education and support for medical issues.

Consider looking for a community that offers:

• An on-site nurse for questions or consultation.
• Health and wellness fairs and lectures.
• Support groups for specific medical conditions or situations.
• Easy pharmacy delivery.
• Durable medical equipment rental and return.
• Home care services.

If you need additional care, you’ll move to assisted living, memory care, or skilled nursing to benefit from around-the-clock caregiver support. Remember to tour these buildings on campus as well as any independent living homes. You want to ensure every part of the community is clean and well cared for.

A senior advisor can help as you choose a CCRC

If you’re not sure how to get started as you choose a CCRC, find a senior advisory service, like Oasis Senior Advisors, in the area you are looking to live in. These agencies are staffed with experts who know the local area, have relationships with senior living communities, and know how to match your needs and budget with a solution. 

Senior care facility rules and requirements vary based on company-specific policies and state-level regulations. The content above represents common guidelines but may differ from a particular facility’s policies or requirements. To learn the regulations that apply in your state, contact your local Oasis Senior Advisor.