09 Sep Build Your Legacy through a Senior Living Ownership Model
In recent years, as seniors have become more active, more socially engaged, and more desiring of living situations that embody a modern mindset, both the variety and quality of retirement options have increased substantially. Independent living communities and Continuing Care Retirement Communities (CCRCs) have made it easier than ever for today’s seniors to enjoy the lifestyle they want.
In most cases, seniors considering independent living and CCRC options tend to think that the former involves a home they can own, while the latter is a community with residents who pay monthly fees to stay in their homes, and do not own equity—but Legacy at Mills River is shifting that paradigm.
Many seniors choose senior living communities like CCRCs (also known as Life Plan Communities) because residents in these communities are surrounded by like-minded individuals. They are able to enjoy an assortment of amenities and services, have access to a full continuum of care, and are afforded the freedom to live their lives as they please. When the first Legacy at Mills River members move into the community in 2024, they will enjoy a special, unprecedented benefit: homeownership.
So, if you’re wondering, “Should I buy a retirement home now?” the answer may very well be yes—but the kind of retirement home you should buy may be different than what you’ve imagined.
Senior Living + Home Equity: The Legacy CCRC Model
Rather than having to choose between buying a home in a retirement community under the independent living model or enjoying the full benefits of a CCRC, the Legacy senior living model incorporates the best of both worlds. At Legacy, members will have the opportunity to own their homes, which means they won’t have to rent or lease the spaces—instead, the homes will belong to the members, who will be investing in a better future for themselves and their family members.
Thanks to Legacy at Mills River’s innovative ownership model, members will command their own spaces, build equity, and create a legacy for future generations. Under this model, which starts at just $500,000, Legacy members will be investing not only in home equity, but equity in a beautiful campus with exceptional amenities and state-of-the-art healthcare options. And they’ll be able to sell or pass their homes on to their families, as they choose.
Benefits of the Equity Model
As an equity-model CCRC, Legacy differs from retirement communities by allowing members to own their homes outright. In addition, they will benefit from Legacy’s services and healthcare under the terms of the community’s service agreement and they won’t have to pay for unforeseen healthcare costs. Unlike in rental communities, residents don’t have to relocate if they need assisted living or skilled nursing services.
Additionally, Legacy’s homeownership model fosters a community where the members aren’t just renting—they’re investors, and as such, the overall well-being and vibrancy of the CCRC matters deeply to them. As the community thrives, so do the members—and vice versa.
It’s a win-win situation and an innovative senior living model. Legacy is the first equity model in Asheville, NC, a region known for its many CCRC communities. This model is gaining traction in the senior living industry, and Legacy is proud to be an early adopter of such a unique concept.
No Time Like the Present
If you or your loved ones are considering buying a retirement home in the Asheville, NC region, now is an ideal time because, given the market trends—with median home prices solidly on the rise—your property will likely appreciate, giving your family strong resale value.
Luxury home sales in Western North Carolina are growing because the market is attracting and retaining discerning seniors (which, if you’re reading this article, you are)—and this means that the market already has a skilled labor force which can exceed your building and design expectations.
Moreover, the demand for new communities with unique amenities is continually increasing, and Legacy’s amenities far outpace other comparable senior living communities in Asheville, NC. Not only will Legacy at Mills River have open spaces and gardens—it will feature spaces which have been meticulously designed for dining, exercise, activities, and hobbies; in short, it will feature the optimum setup for building a robust community of active, engaged seniors.
How Legacy Cares
Beyond its homeownership structure, what sets Legacy apart—and what’s impossible to measure against anything else on the market today—is Legacy’s healthcare model.
Legacy’s continuum of care ensures that, if your healthcare needs change, you can stay in the community near your loved ones and friends—and you’ll have the support and assistance of skilled, dedicated healthcare staff.
For this reason, an investment in a Legacy home is not just a financial one, but an investment in life as well. By purchasing equity at Legacy, you’ll also lock in the security of healthcare when you or your partner need it most.
If you have questions about Legacy at Mills River’s Equity Model, want to learn more about the community, or are interested in visiting the Sales and Design Center, visit the Legacy website—or call 828.696.1554 to speak to a knowledgeable member of our staff.