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Costs of Living at Home VS Moving to a CCRC

As you enter your retirement years, you have several living options for some of the best years of your life. This could include staying in your current home where there are still common financial burdens like homeowner maintenance and unexpected healthcare expenses. But many seniors have found that moving to a Life Plan Community is sometimes the best choice for them financially.

CCRCs offer a lifestyle that allows seniors to make the most of their retirement years. They provide luxurious homes with endless amenities, exciting programs and activities, and a welcoming community of friendly neighbors. Retired individuals typically crave this type of lifestyle, but achieving it while living at home may not exactly be affordable.

Learn more about the cost of staying at home versus moving to a CCRC and find out what’s best for you.

Is it cheaper to stay in your home?

Everyone’s living expenses are different, so this varies from person to person. But in general, we don’t typically think so. Don’t take our word for it — it’s best to discover for yourself. Over the next few months to a year, record what you spend on your current home — including everything from regular household upkeep, t he cost of utilities, appliance repairs to lawn care and outdoor services.

Once you’ve done your homework, start searching for CCRCs and gathering information on their monthly fees. You may be surprised that what you’ll pay at a CCRC is less than the money you’re currently dishing out to keep your home running smoothly.

What other kinds of costs will be eliminated?

Perhaps you’ve crunched the household numbers and you’re still not happy with the end result. You may be forgetting about other expenses in your life outside of the home. 

Think about how much you spend at the grocery store and how often you go. Alternatively, think of what you spend when you go out to eat, or when you just grab a snack or a coffee around town. With all the dining options available at Legacy at Mills River, your grocery and food spending will be much less.

Your vehicle is another large expense that requires constant gas and maintenance. The cost of transportation is drastically reduced when joining a CCRC. First and foremost, most of your everyday travel needs will now be met right within campus, such as healthcare and dining. Many seniors find that they no longer need to rely on a vehicle once moving to a CCRC. All they need is right within campus and when they do get the urge to venture beyond, your community will have on and off site transportation services to meet your needs

The community shuttle on campus will take you to nearby public venues, shops and much more so you can still participate in the excitement of exploring the surrounding areas without having to deal with the costly upkeep or recurring expenses of owning a vehicle.

Is it worth it?

CCRCs enrich members’ lives with art, theater, cuisine, culture from the surrounding area, and the strong sense of community every day. Think about what you or your loved one is looking to achieve during their retirement years. If you’re dedicated to spending your retirement years doing the things you love the most — a full social calendar, enjoying old hobbies and picking up new ones — a CCRC is the right place for you. 

The cost of living at a CCRC, participating in events, and joining programs will get you more bang for your buck compared to paying for individual activities if you remain at home. You may currently be a member of a golf club or a country club. We understand what your lifestyle is like and have similar current offerings without the high club fees. Not to mention the inconvenient and time-consuming travel that goes along with it. 

Many people feel that on-site healthcare services alone are worth the cost of a CCRC. Easy access to healthcare provides peace of mind that you or your loved one will be cared for should long-term care be necessary in the future. 

How much does it cost?

The costs of CCRCs vary from one community to another. There are two costs to consider when moving into a CCRC: the initial cost to buy-in or purchase, and the on-going monthly fees. At Legacy, our fee structure is based on several factors. First, your monthly fee is correlated to your floor plan. It also depends on whether you are single or have a spouse. Lastly, at Legacy, since all homes are member-owned, your monthly fee includes your HOA fees. This means you pay one single fee a month which includes all costs of living – no hidden fees for community maintenance or upkeep

Legacy at Mills River is a senior living community with exceptional amenities, state-of-the-art healthcare options, and a lively array of future friends and neighbors. It was created to provide the senior lifestyle you’ve always dreamed of. For more information on buying at Legacy and to learn about the different floor plans available, check out our website.

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