FREE NEWSLETTER
Go to main Forum page »
AGING IN PLACE (So we thought)
Our journey started in the late 1980s with our first remodel. It was our second marriage, and rather than asking our teenage children to share a bedroom when it was “my weekend”, we created two bedrooms and a full bath on the lower level of our split-level. It was a suite with adjoining bedrooms and a private bath. That brought our bedroom count to six, making room for everyone. We also finished the small “basement” for the boys. We made our first step towards ‘aging in place’, a concept that involves making home modifications to allow us to live independently and comfortably as we grow older.
Seven years later, as the children grew older and went off to college, it was time to remodel for ourselves. We moved the kitchen to the back of the house, replacing the living and dining rooms. We converted the boys’ bedrooms to twin offices and expanded our master bedroom into the adjoining bedroom. We learned from our parents in wheelchairs that if we expected to age in place, the first floor needed double-wide doorways. The challenge was significant, as it required major structural changes and careful planning to ensure the new layout was both functional and aesthetically pleasing.
The next remodel around 2013 focused primarily on the master bedroom’s closets and bath. Convinced we were aging the place, we added a full bath on the main floor off the kitchen, and finally built our screened-in porch and expanded the deck.
In 2019, the former kitchen, now the den, became my hospital room. We were grateful that we added that full bath next to the new kitchen. About a year later, we again cleared out the den for my wife’s recovery from a fall.
We never expected to test the concept of aging in place while we were still in our 70s, but it worked perfectly.
WE CHANGED (Big surprise – life got in the way)
As time passed, we realized we were becoming socially isolated due to mobility issues in our perfectly comfortable single-family home. Our neighbors have either moved or passed away over the last four decades. We missed them, but were happy to see younger families bring the neighbor back to life. This sense of community and connection is something we cherish and strive to maintain.
Having no intention of ever moving, we paid no attention to the new construction of a luxury CCRC just 10 minutes from our home. We finally decided to check it out and immediately added our names to their wait list. We were very late to the party.
Like every other couple, one is reluctant to change, and the other looks forward to it. Time has a way of helping to change minds.
Being late on the list, we missed getting an apartment with a den, an extra room we wanted for our home aide. The apartment we selected has two large bedrooms and a great room that houses the kitchen, living, and dining areas. It’s perfect for two, but tight for three. We’re not worried; it should work out to everyone’s satisfaction.
The next issue: The Move. Going into ½ the space means different things to different people. To me, it meant starting over. My wife liked many items and wanted to keep them. We needed a talented interior designer to use every trick to make a small space look spacious and comfortable.
I think I won. Gradually, as we saw the designs, my wife realized it was the right thing to do, especially when I told her it wasn’t costing us a cent. “How’s that?” she asks. I convinced her that, with five children, none would miss their small contribution to our happiness.. The total is big, but divided by five, the resulting amount seems small.
Days are going by quickly. We cleaned out a few areas, but not enough. We have a difference of opinion as to what personal items we want to take. I admit it. I’m attached to my junk (her word, not mine). Then I came up with the perfect plan. She throws away my stuff, and I throw away hers. Problem solved. But it wasn’t that simple. Parting with our possessions, even those we rarely used, was an emotional process that required us to reevaluate our attachment to material things and focus on what truly mattered to us.
Simply put, we are moving ‘for community’. By not leaving the area, we get to keep our family and friends. We simplified our move with the help of Erickson Senior Living, which gives new residents a free bridge loan to allow them to sell their homes after moving. It is such a civilized approach for seniors.
So we move in December or January. I hope it goes as planned. We hired a great agent to sell our home (my niece). We hired highly recommended senior moving and transition specialists to handle the details and provide the labor. We can just guide them without doing any physical work. Walking with a cane makes carrying anything a bit difficult.
NEW MISSION (Spread the word)
I am on a new mission with my children. At 55, they are thinking about just one aspect of retirement – the money. What they are not thinking about is housing.
We watched our parents’ health decline, and now we are experiencing ours. We started planning the living portion of our retirement 30 years ago.
It was a great plan until it wasn’t.
WHAT WE LEARNED (This is the important message)
I’ve researched living options for retirees and those needing more than just a physical place to live. I’ve learned one crucial thing. Senior housing supplies are going to be insufficient.
I heard of one place in South Carolina where they have a seven-year wait list for one-bedroom apartments and fourteen years for two. Imagine what that will be like in 10-15 years.
For people like us who don’t care to move to better climates or can no longer play sports or even walk well, we are not moving to faraway places. We want to stay with our family and friends, and, in our case, the same zip code.
The solution is to plan. There is only one way: sign up for waitlists now. Planning is not optional. It’s a crucial step that we’ve learned the importance of, and we encourage others to act on it.
You have to be careful. Some waitlists are better than others – even ideal. For example, our assigned priority number is fixed based on the date. The refundable fee ($1000) is small.. Being on the list early or for a long time means, at some point, you’re in the top, number-one position, ahead of all others because they have made other plans, taken an apartment, or passed on. You can choose active or inactive. If you’re inactive, you will not receive contact when a unit becomes available. If you’re active, you receive a notification every time a unit matching your requirements comes up. Say “no” until you like the offer.
Consider this. You’ll have fewer options if you want to live in a particular place, like near your home or in the same town. It’s getting harder to find land in the most popular areas. For sure, it’s going to be expensive.
In two words, RESERVE NOW. Protect yourselves. It’s inexpensive to add the appropriate housing options to your financial plan.
Check out a Life Plan Community (CCRC). If you think you “might” need what they have to offer, now is the time to go on a wait list.
We have our fingers crossed that we are making the right move.
I forgot to mention my experience with an unexpected need for specialized care. This experience is the second reason for the move.
If you’ve read my other articles, you know my wife fell in our home at the beginning of COVID in April 2020. She spent 3 months in 3 different hospitals and another 3 months in a rehab facility 30 minutes away. All places were locked down. We did not see each other for nearly 6 months.
Yet I still found myself driving 30-60 minutes to bring items or food over to her.
The separation was an issue for both of us. With advanced care on the same campus at our CCRC, it will be a short walk if one of us needs extra care. I cannot put a dollar value on that convenience and guaranteed acceptance. Saving our children the hassle of finding suitable medical facilities is also worthwhile.
It’s not always about the money. There are other factors to consider. I agree it’s hard to think about because it’s so random.
Soon, our LTCI payouts will exceed $500,000 for her daily in-home aide.
It’s a lot to try to plan for.
I couldn’t agree more. Having higher levels of care on the same campus is one reason I elected to remain in the US instead of moving back to the UK. I have seen the difference it makes: a neighbor at my CCRC came back from knee replacement surgery to Skilled Nursing, and then to her apartment with food delivery, onsite physical therapy and transport to doctors’ appointments. A friend aging in place constructed an extensive spreadsheet tracking all the support people she had to put in place after a similar operation.
Not having to arrange a last minute move to Assisted Living is also a consideration, especially if you live alone. You will probably have limited choice and may be in no shape to carefully evaluate what options you do have.
This feels like an ad for CCRCs.
It’s clear from your comment to smr1082’s post that you have a wonderful, loving family.
My experience, however, was very much not that, which is precisely why the CCRC was the solution that made the most sense for me — and perhaps for other HD readers who have commented positively.
Perhaps you mean “ad” as in advocacy. Obviously, a CCRC is not a solution for everyone, for one thing there aren’t enough of them, but it solves a lot of problems for people who can afford one (and it’s not always as expensive as some of those described here).
I’m sorry to hear that you feel that way. Ignore the warning, and take your chances that what you want will be available when you want it.
Your risk tolerance seems to be much higher than mine.
I’m just following my dad’s advice from 55 years ago. “Anticipate a problem long before it happens, and act to avoid it.” His advice is timeless.
There’s certainly no harm in putting down a small refundable deposit on a few facilities. There is no commitment to take the plunge. At 67 we are starting to get more educated on CCRCs. My sister in law and her husband moved to one and she passed away after a few years living there. She had mild to moderate dementia and was in a daily singing group which allowed my brother in law to get an hour or so of respite daily as the other members would look after her. Also my wife worked at a local CCRC which was very nice, but most likely way out of our financial league.
Sad news. My friend’s sister and brother-in-law cancelled their move into our community due to recent health issues. They signed up two years ago. It’s a new community with the first building opening in November.
Not ready? When is just the right time?
My husband and I often talk about selling our aging house and going… somewhere else (that part is still hazy). I used this article and its very helpful comments to once again try to have a discussion with my husband about CCRCs. At age 67, he just doesn’t want to talk about it. “That’s for 10 years from now,” he says. But I know we are at the back end of the baby boom and long waitlists are forming for these rather scarce lifeplan communities.
A second obstacle is that to afford a CCRC, we’d probably have to move far from where we’ve been living (in a NYC suburb); the few good-sounding ones around this region cost so much upfront that our house’s sale would cover only about half that cost, and then the monthlies are quite high, too. For me to scout out ones in other states on my own would be a real undertaking. I guess I’d better start planning, though.
In the meantime, I’m trying to collect details and lists of the good CCRCs and what to look for. Sharing this recent “Is a Continuing Care Retirement Community Right for You?” info article from Morningstar.
I couldn’t get your link to work. This one might: https://www.morningstar.com/retirement/is-continuing-care-retirement-community-right-you?utm_medium=referral&utm_campaign=linkshare&utm_source=link
Sorry about that. I’ve found it’s often the case that one partner is more enthusiastic than the other about CCRCs, or about moving at all. You are correct that the length of wait lists (at least in my area) means that signing up ten years ahead of time is a prudent move. You might see if a local university has an OLLI course on senior living options.
to scout out ones in other states
Our CCRC — and I’m sure it’s not the only one — offers complimentary visits, with overnight accommodations, hosting by residents for meals and seeing residences, informative tours of facilities, and plenty of opportunities to ask questions of residents and staff.
I had already joined the priority list when I visited in 2018, a Monday afternoon to a Thursday morning. My only cost was for transportation to and from. The visit also served as my interview and review of finances, following which I was accepted to the waiting/ready list.
I’ve heard that some residents visited here multiple times before committing, and some visited many different CCRCs before joining lists.
In addition to the Fourth Edition CCRCs by Ruth Alverez, this website might be helpful as well: https://mylifesite.net/
The legal info is pretty good. Material on individual properties can be out of date. Contract properties directly for up-to-date pricing and brochures.
Thanks for the replies to my concerns about potential bankruptcies. This has been very educational for me. Thanks to the OP and all the respondents.
A timely post. We are 72 and 77 and have been traveling full-time for 5 years now. We expect we will want to “settle down,” soon as we don’t know anyone in their 80s traveling like we do. We have our eye on a couple of apartment complexes that would fit our needs. But perhaps a move to a CCRC would be more prudent. My adult son took care of his dying father (my ex) for 3 years and I do not want him to have to experience that again.
While we love the Puget Sound area, I think we’d be open to moving into a CCRC in another locality if the price were right. We have less than $1M in our nest egg which might limit our choices.
Is there a national database where we can compare amenities and prices? Or is regulation, if it exists at all, on a state by state basis?
Richard Hayman just posted what looks like an excellent CCRC search resource that starts with region and then drills down into amenities and prices. You start here: https://mylifesite.net/search-communities-new/
N.B. When I looked up a CCRC in my region I saw that it said “plans to welcome its first residents in 2023.“ So, in this case at least, the $ numbers and info that this resource site is showing are likely out of date.
The listing for my CCRC is also several years out of date. The description is a straight copy from our website. I note that an annual fee is charged for a listing so some operations may opt not to pay. It looks like the owner of the site makes his money from selling software tools to providers.
In NC you would be better off starting with the Department of Insurance website, which lists all CCRCs in the state with links to their Disclosure Statements. Other states probably have something similar, or you could start with the Residents Association I linked below.
Regulation is on a state by state basis. Some states have better regulations than others… I live in NC which has an active Residents Association which had input to the existing statute and the updated one currently before the legislature. I see that a new version of Ruth Alvarez’ book on choosing a CCRC has just been published and would recommend starting there. Given there are four basic types of CCRC and variations on those, you really have to read the fine print. The website of the national Residents Association has additional resources.The Washington state site is here.
Fortunately, we live in Maryland, which has the Department of Aging regulating CCRCs in the state. They are very strict with watching over the entrance fees and ongoing reserves. Also, Maryland is the home base for the Erickson Senior Living Headquarters.
Erickson recovered from bankruptcy around 2010. Their difficulties stemmed from the economic downturn, which led to delays in selling homes by their future residents during the Great Recession. Refunds of entrance fees during that period were delayed, but not lost. It was not the result of poor or risky business decisions.
While bankruptcies are rare, you can learn which communities are more vulnerable than others. The red flag characteristics include high vacancy, lack of maintenance, poor location, delays in returning entrance fee residual, and staffing issues.
My primary purpose in writing this article was to explain the need to PLAN for housing in addition to finances. We are sad to leave our home of
40-some years. We are, however, very pleased we found suitable housing so close to home.
With that said, most retirement communities are geared toward active seniors. Looking back, I wish I had moved in my mid-60s rather than in my 80s. Financially, it would have been substantially less expensive, and I think I would have been in a position to enjoy more amenities.
Analyzing what you spend now and what you’ll save as you eliminate expenses is pretty straightforward. The value one places on shedding a single-family home varies greatly. Having peace of mind has worth that only you can determine.
Fall risks plague seniors. It’s just a fact. Be careful out there, kids.
It would be nice to hear more from HD readers who have been there and done that. And to answer the question, “Knowing what you know now, what would you have done differently?”
The CCRC business model makes me nervous. I would have to pay a very large sum to use one and will still pay monthly payments. I understand that some have gone bankrupt, thus forfeiting any big up front payment. Do others have this concern?
I think much of the recent angst about the financial viability of CCRCs is due to the coverage of by NY Times and the WSJ of the bankruptcy of one upscale CCRC in NY where residents ended up losing ~2/3 of their entry fees after the facility had gone bankrupt for the third time.
The President & CEO of Leading Age, which is a national organization of 5,400+ non-profit service providers, responded to the WSJ article with a letter that the Journal published in July.
Responding to the Wall Street Journal’s recent coverage of several continuing care retirement bankruptcies, LeadingAge President and CEO Katie Smith Sloan wrote a letter to the editor, which was published July 10. Pointing out both the relative rarity of continuing care retirement community (CCRC) bankruptcies (less than 1% since 2020) and the highly idiosyncratic nature of each of the situations examined, Sloan also notes existence of safeguards provided in many state statutes that are intended to promote financial solvency and protect against possible loss. Many CCRCs, she said, voluntarily engage in these and other fiduciary practices.
https://leadingage.org/wsj-publishes-leadingage-letter-to-the-editor-about-lpc/
According to a July 2025 article in The Wall Street Journal, at least 16 CCRCs have filed for bankruptcy since March 2020.
Quote from Morningstar. https://www.morningstar.com/retirement/is-continuing-care-retirement-community-right-you?ck_subscriber_id=3069100023&utm_source=convertkit&utm_medium=email&utm_campaign=The%20Investor%27s%20Newsletter%20-%2018577780
The WSJ article said that 16 of 2,000 CCRCS have filed for bankruptcy since 2020 which is less than 1%.
We’ve discussed that twice on HD. Turns out to be a very small percentage, and some are bought out, like Erickson in the early 2010s. It helps to be in a state with good regulations. NC’s are supposed to be some of the best, but we still had one facility get into difficulties recently. It was rescued by the Department of Insurance, which is in charge of CCRCs, and the state Residents Association has since been shepherding an updated statute through the legislature.
NC requires detailed Disclosure Statements, available on the DOI website. Reading those took two possibilities off my list. As a leading edge baby boomer I am not very worried: my CCRC has a lengthy waitlist, and plenty of people are aging behind me. If I were a trailing edge boomer I would be more concerned.
“Trailing edge boomer”—I guess that’s me!
Ok, this may be one of the best pieces I read on HD. Thank you!
Agreed, along with Kathy’s articles on CCRCs. I actually did have a conversation with my husband over dinner after reading this piece, and he agreed that getting on waiting lists is a good idea.
That’s great! Don’t lose momentum. I have friends who intend to get the wait list for my CCRC, but they are both procrastinators and haven’t done it yet. (No, I don’t think they are just being polite.)
I never would have even considered a CCRC before reading about them on HD. Now I’m actually going to a sales presentation for one in Tacoma later this month. I still doubt I will act on the idea, but this article has further opened my mind to at least learning about the subject.
This is a quite interesting thread. At 79 we are way past the idea of doing this, and anyway, given that my spouse has dementia we wouldn’t be eligible. Fifteen to twenty years ago i don’t think these places existed. I am kind of astounded at what folks are paying for what is essentially rent because it makes them eligible to get access to assisted living or other higher level of care at some future date. I realize that when you make this move, you no longer have the expenses of your home, but the very high entry fee would eat up a lot of any equity you might have had in a home you sold. I am sure that I just don’t understand the math. It looks like if you are paying $5.92/SF plus $2090/mo (2nd person) for a 1383SF unit, that is over $120,000/year. That has to be a lot more than what it cost you to live in your old home…..And, your monthly fees will be increasing every year with inflation…..
Please forgive me for my doubts. $120k is about 3x the cost of owing my two homes. I guess that I don’t understand the value proposition for CCRCs…
At some point my spouse will need memory care, and that is going to cost something North of $10k/month for the time that she needs to have that level of care. There are several high quality facilities near me which offer this level of care, and have vacancies for a private pay (as opposed to paid by medicaid) resident.
Health is not an issue at most Type C (Fee-for-service) CCRCs, as they do not need you to live in IL to justify their business model, where the fee remains the same regardless of level of care.
Having LTCI solves the problem of one spouse remaining in IL while the other stays in, say, memory care.
It’s a tough call no matter what.
As I noted previously, our facility is definitely upscale and prices in the NYC area are among the highest in the country. (If you think our fees are high you might want to check out Vi at Palo Alto, CA.) Until now, we always lived modestly (we had most of our assets tied up in our Brooklyn brownstone and retirement accounts before we retired) and we never expected to end up in a place that cost this much. However, we are fortunate to be able to afford living here and consider it by far the best option for us given my wife’s health issues and our desire to be close to family.
1PF’s reply to your comment does an excellent job of describing why we love living here. While the availability of continuing care was a factor in our decision, it was much less important than our perception of what life in independent living would be like. In that regard, I am happy to say that our expectations have been exceeded.
If I had a spouse with medical concerns already, I’d want us to be in a CCRC in case I died first. Even if I had other family willing to help, I’d not want to risk burdening them with exhausting and expensive healthcare for either of us. I’d look into the possibility of entering into independent living and the spouse into memory care. Another monetary consideration is the sizable medical deduction on the income tax return.
My nonprofit CCRC has independent living, assisted living, skilled nursing, and memory care. For me (single, childfree) the value is not only the lovely residence provided and the assurance of future health care, but also the conveniences, such as on-site clinic, physical and occupational therapy, medical testing, and part-time dentistry and other medical specialists; meals, housekeeping and groundskeeping services, internet, basic cable, maintenance and IT services. We have a bank office open part-time, ATM, hair salon (low cost and no tipping, charge added to monthly CCRC statement), and resale shop.
Arriving here, I gained an instant community of fascinating people. Amenities include musical and other entertainment and educational programs and classes by the residents and also at the local college, which has a well-known art museum and a music conservatory. The CCRC’s TV stations broadcast many programs. Lots of fitness activities and free swim in the swimming pool. Exercise and stretching in the fitness rooms, in classes or alone or with like-minded friends. Art studios, displays, and classes, volunteer woodworkers and sewing help. Online reading always available through Libby, and for those who want “real” books there’s our on-site library plus the local and college libraries. Volunteering is popular here, both by helping residents individually in various ways and by joining CCRC and local civic committees.
Many residents have cars (in garages on-site), but I’ve been happy without that concern and expense: the CCRC provides free regular rides within town (e.g., grocery shopping) and to medical appointments within the county as needed. There’s a free weekday e-bus shuttle schedule all around town. For a tiny fee, CCRC resident drivers give rides to medical appointments outside the county and to the airport. Friends, of course, also offer rides for errands in the area, or residents can rent a CCRC-owned car. Sign-ups are popular for taking convenient bus trips to big concert and museum events in nearby cities.
I hope this gives you a more complete picture of the value that the CCRC monthly fee provides. Life is simpler here, with so many amenities included in the cost and easily available.
OK, now I want to move there. It sounds great!
Stelea99, I think Rob Jennings explained the value proposition with his last sentence, “It’s important remember that when you buy in to a CCRC you are buying insurance with a place to live.”
Nice article Richard.
A couple of corrections. CCRCs have been around in the US for over a century – as I posted below, mine is 32 years old – although there has been considerable growth recently, especially at the high end. Equally, $120,000/year is definitely high end, you can live at mine for much less. I am paying about half that for a bigger apartment, although a second person would add another $16,812/year. You get a lot of benefits besides access to higher levels of care.
In our area of the PNW, there is no CCRC that I can find. There are for profit places that offer four levels of care which would allow a person to transition from independent living to assisted living and memory care. None offer all the amenities quoted in some of the responses in this thread.
There are CCRCs where are Winter home is located, but we don’t want to be there in the Summer.
Good one. As I’ve commented before my wife and I got on 4 non profit CCRC wait lists almost 2 years ago when we were 67/64. We expect it to be at least 10 years before we get notified and then we begin the process of deciding. We wanted to get on multiple lists to keep our options open and fortunately there are some good choices in our area. Both of us have family history reasons for doing this and we think it fits our situation. It’s clearly not for everyone. For a nominal fee, NaCCRa has some credit resources including screening info. It’s important remember that when you buy in to a CCRC you are buying insurance with a place to live.
It is my understanding that one cannot actually buy into a type A CCRC unless both you and spouse are healthy; not actually needing memory or skilled nursing care when you buy your unit.
If true, what will you do if while you are waiting maybe 10 years if one of you develops adverse health problem?
These facilities charge everyone the same monthly fee regardless of which level of care you need. Hence they depend on healthy people in Independent Living paying higher fees to support the cost of Memory Care and Skilled Nursing……
My modified Type B runs both a financial and medical check on prospective residents. However, it occasionally admits new residents directly to Assisted Living if there is extra space. I believe in that case you would pay market rate instead of the discounted rate charged to existing residents. It just added AL space and is currently admitting from outside, but it’s not something you can count on.
Why on earth is a factual post getting down voted?
My wife and I also moved into an upscale CCRC when it first opened in Dec 2023. I’ve been meaning to start a thread about it as it is a fairly unique university-based facility that is located on the campus of the Purchase College branch of State University of New York (SUNY). It is a non-profit Type B facility whose board of directors includes the college president and three other current or past college officials.
It is also my impression that there is a growing shortage of CCRCs and that most of those that are being built are aimed at affluent retirees.
The wait list at our facility quickly became so large that it was overwhelming our marketing department and it was decided to make the $2,000 fee non-refundable.
We are very happy with our decision.
The nice one in our college town is a similar set-up. We had older friends who moved in right when it was new, and they had us over for Sunday brunch in the dining room. It was very nice. That was a while ago, and they’ve both passed, but they used all levels of care—he needed assisted living while recovering from cancer treatment; she needed memory care. They’re also putting up a brand-new building right now.
We’re absolutely getting on the list for that place. Maybe this week! This post has lit a fire 🔥 under me!
Would you mind taking your monthly fee and dividing it by the size of your unit? I want to know the monthly fee per square foot. Thank you
Hi Richard, We have lived here in St Louis MO at a CCRC since July 2022. Our unit is the largest at this facility at 1838 sq ft. Our current monthly amount is $8581 per month, or $4.67 per sq ft. However you need to know what that includes, which is insurance Sequoia LTC for Nursing home and the like, if we use it, then instead of $14,900 per month for nursing, ours is about $7,300, this is what you are paying for, a guarantee low rate compared to going rates and priority to get into the nursing home. In addition, if per chance you run out of money, you are never asked to leave, then you pay according to your means. These are details you want to learn.
There are many numbers to all the questions being asked in these threads, just use them as a guide. After being here 3 years, if you are considering a CCRC, visit 10 of them, get the numbers for each and you will be able to make a very informed decision. From our point of view, you want all types of care at one site, Independent Living, Assisted Living, Memory Care, and Nursing. Trust me, I never wanted to leave my cushy home, however I was lucky and learned from my parents, who had long lives of 93 and 101, and the best time to move into a CCRC age wise is 75 to 80, of course dependent on your needs, and health. Yes, it will cost you about twice as much as your home, maybe more, but it will also bring enormous peace of mind, as I have NO intentions of burdening my children during there best years of life.
CCRC’s provide a simpler way of life with a community that understands your needs. I feel I am on a Cruise ship with unlimited activities, entertainment, camaraderie, breakfast, cafe at fee, and fine dining. No seasickness or wavy days, check it out and make a good decision on how to live your life simpler and better. CCRC’s cover all expenses except your smartphone bills.
We are both 79 and enjoying our Independent Living as long as we can, and are prepared for what life throws at us. Right now as of 8-1-2025 our facility is 100% sold out, with a waiting list at now $5,000 refundable, which previously was at $1,000. When we moved in, occupancy was a little over 80%, all due to Covid. The word is out, the CCRC is the place to be, and they cannot build them fast enough. Across the nation occupancy is greater than 92% overall. It is a MAJOR decision, so take your time, learn all you can and, you will live a much happier life.
They also have individual dwellings, called cottages, like 2000 sq ft homes, which I thought originally I wanted, but remember if you live in a home, nightly dining is in the Main facility, and most other activities and the like, and you have to go outdoors to reach it. It took us a year to realize that an Apartment is a much better choice, for that convenience, you will appreciate especially, when you grow older, and the weather inclement. Consider all factors.
I hope this helps all. Best wishes to all.
Of course, this will vary a lot with location, age of the facility and type of contract. I’m in a non-profit modified Type B in the Research Triangle area of NC. My building is two years old, some of the buildings are 32 years old.
All our fees went up 4.5% in January. The fee for a second person in all units is $1,401. My two bedroom, two bath with den and balcony is $3.12 per sq. ft. That is mid-range for the new building – smaller units are more expensive per sq. ft. and larger units are cheaper. Apartments in the older buildings turn out to be more expensive per sq. ft., although cheaper in absolute terms, while cottages are cheaper both ways.
I like this question. I’ll be curious to see others’ responses.
For my 1BR+den cottage at my nonprofit CCRC in northern Ohio, the monthly fee starting Jan 2025 (up 4% from last year) is $4.37 per sf for the first person.
I’m in one of the newer cottages (the CCRC has been constructed in phases); for a similar 1BR+den in the renovated older cottages, which have lower fees and square footage, it’s $4.74 per sf; and for the apartments, which have even lower fees and square footage, it’s $5.61 per sf.
The second person fee/month is currently $2208 for apartments of all sizes, $2307 for renovated older cottages, and $2400 for all newer cottages.
We are on a fiscal year so our fees just went up 4.5%. Our fee is $5.92/sq ft for the first person (1,383 sq ft two-bedroom with study). The second person fee is $2,090/month regardless of unit size. We are located in just north of NYC in Westchester county where prices are high. The price per sq foot is slightly higher for the smaller units and for the villas (~$6.1/sq ft). The entry fees are 90% refundable for those of us who are charter members but are 80% for future residents.
Both of those monthly fees include $700 in dining credits, which changes the square foot fees to $5.42 for a single person in a unit like ours and $6.42 for a couple.
From personal experience, I know that the entry fee can affect the monthly fee. We stayed in an a private Type C facility for 7 months while we were waiting to move into our Type B CCRC. The entry fee was only $7,000 but our monthly fee for a smaller unit was $2,000 more than the fee in Type B facility and the second person fee was $2,500 two year ago.
A Type C may not charge any entry fee. There’s also the issue of whether the facility will keep you if you run out of money. I doubt any Type Cs will do so. I’m also wary of Type A, where you pay the same monthly fee regardless of the level of care. This is a bad deal if you spend longer in Independent Living.
Both of our mothers were in Type A facilities that were very nice (although they would be shocked at what we are paying for our place). My mother had a two bedroom plus den two bathroom apartment and residents had access to a wide range of activities and services. I don’t think one can assume that the independent living experience in a Type A facility is inferior to what it is in a Type B facility.
I wasn’t referring to the experience. I was referring to the fact that in a Type A you pay more in IL in order to pay less in AL and SN. I expect – or am gambling – to spend longer in IL. In fact, for some diagnoses I hope to take a one way trip to Switzerland, skipping SN altogether.
I am in a type C in Bethesda, MD. There is an entrance fee with an 80% refund. Yes, there is a program that pays monthly payments from your 80% refund if you run out of money. The monthly fee for my 1424 sq. ft. unit is $4.35/ft for two people. It went up 8.5% last year. The building will open this fall. $500/mo. Dining credit. The first two buildings are 14 stories. The rest will be 6-9 stories.
I would be concerned about an 8.5% increase in a Type C facility that has yet to open.
Our Type B facility has substantial entry fees that are also 80% refundable (90% for those of us who are charter members). Entry fees are used to make monthly payments for those who run out of money, which I assume is the norm, and there is also a guarantee not to be thrown out if the entry fee is exhausted.
CORRECTION 8/15/2025
SORRY, I HAD A WRONG STARTING AMOUNT.
THE ENTRANCE FEE INCREASED 7.7% TO KEEP CURRENT WITH THE LOCAL MARKET.
MONTHLY FEE INCREASED 4.47%
Information below IS INCORRECT
Yes, 8.5% is very high. Here’s my theory. They wanted to raise the entrance fees to market rates due to increasing demand. They applied the same rate increase to the monthly rates, which nobody paid. Based on the reported costs per square foot, ours seems lower than many. There is a range of fair, and we seem to still be in that range.
We have several new local properties with lower entrance fees, but they come with double to triple the monthly fees I’m going to pay. If the stay is short, the total costs could be less. Over time, that fee grows quickly and substantially.
It takes effort and time to sort out what’s best.
Entry fees at my CCRC are either 0%, 50% or 90% refundable, with the fees increasing at each level. This seems to be common in this area. We have a Benevolent Fund that pays part of the cost for people who run out of money, but my understanding is that more comes out of the 5% of assets (?) that must be spent for charity to keep our non-profit status.
When I looked into a CCRC in AZ, in order to get a refund, they had to have a buyer for your unit. Does yours have a similar feature?
At present, demographics support the idea that there will be buyers available..,as the number of Baby Boomers diminish, perhaps at some future date CCRCs may become over-built and not really refundable.
My entry fee is 0% refundable, but I checked the Disclosure Statement, and yes, any refund is paid after the incoming resident has paid their fee. There is a 60 day trial period after move-in, it’s not clear whether you would have to wait that 60 days. Since the entry fee is considerably higher if it’s refundable, and leaving a legacy is not a priority for me, I saw no reason to pay the higher fee. I suspect this is covered in the governing statute.
Good decision based on your situation.
This is fantastic. Thanks for writing this. Thanks to family experience and to what I’ve read here, we are very open to the CCRC option a bit later in life (we are 65). Your post convinces me that we shouldn’t dilly-dally but should start getting on lists. There’s one very nice CCRC in our college town and one more moderate one. We could also sign up at a spot or two in San Diego County near where our younger daughter lives now.
In my area mid-60s would be the ideal time to get on one or more lists. Generally the deposit is refundable, so you would only be out the processing fee if you sign up for multiple facilities.
Can you help me convince my kids? They’re 55.
Richard, thank you for this article. Timely for many of us. Chris
Thanks for this post. Welcome to CCRC life, I hope you’ll be as satisfied with your decision as I am. You are entirely correct about wait lists. My CCRC opened a new building with 192 apartments two years ago (it’s where I live) and the wait list is longer now than when they broke ground – last I heard it was over 1,100 households. The deposit is also a refundable $1,000 plus $300 admin fee.
A couple of other points. One thing you will hear a lot is that a move to a CCRC is the best gift you can give your kids. If you don’t have kids it’s the best gift you can give yourself.
Secondly, it pays to do your research. CCRCs are not all the same. I recommend non-profits and prefer Type B to Type A. HumbleDollar readers might start here:
https://humbledollar.com/2022/03/life-care-compared/
https://humbledollar.com/2023/02/continuing-care/
Great recommendations: non-profit, Type A or B. My preferences were: location, NEW, and high-rise. Ended up with a for-profit company and Type C. Those terms were acceptable to me, but yours are better.
Thanks, Richard. I particularly like the promise at mine not to throw me out if I run out of money. I worry about a good for-profit being taken over by a bad one, but sounds like the company running yours may be big enough that’s not an issue.
Richard,
Great post!
Thank you for all the very pertinent – to us – information!!
Richard, thank you for sharing your journey. It is very timely. I am still independent and it is hard to imagine myself needing this yet. But you make a good point about just reserving a spot as soon as possible. It seems overwhelming to pick a CCRC, I checked out the book Kathy recommended on CCRCs and it’s very comprehensive.
Thanks again for sharing.
Glad you found Alvarez’s book helpful. It’s also worth looking for classes on senior living options at a Senior Center or a university running OLLI classes.
We went with Erickson Senior Living. There are so many, it’s hard to make a decision.
I would find an Erickson you might like and sign up there ASAP. Then you have time to do your research. Get your money back at any time. For the same fee, you can add your name to the list at multiple Erickson properties.