Should you consider a retirement community?
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Where do you want to retire? The living choices available to retirees are more diverse than ever, and the reasons for choosing any one over the others can be just as varied. If you’re thinking about the options, here are a few considerations that can help you determine whether it’s more important to you to stay in your family home, or if a retirement community is more appropriate for you.
The personal angle
Intangible considerations such as familiarity with the neighbourhood or proximity to family may be more important, for some, than more concrete convenience or amenities.
The benefits of a tailored community. Moving into a retirement community can bring you closer to a social network of people who share your interests. It can also give you access to on-site health care services, and to living spaces adapted to your specific needs.
The draw of the familiar. However, choosing a retirement community may involve moving away from family, friendships, and the social roles you’ve developed over the years in your current home. Even moving to another part of the same town can take you away from familiar people and places. Many people don’t want to part with the home where their children were raised, and many may wish to keep the family home in the family after they are gone.
What fits best?
The key is to ask yourself whether or not remaining in your home makes sense. Here are a few questions to help you take stock of your situation:
Giving honest answers to these questions will help you make an important decision that can affect the rest of your life. Financial advice can help provide some options so that you can rest assured you’ll be able to live where you really want to live.
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