There are a lot of upsides to living in a retirement community: social and recreational activities, amenities and best of all, someone to take care of maintenance.
It can be a liberating experience, freeing you up to do what you love with the people you love — like your grandkids. The downside? Sticker shock.
According to the AARP, the average Continuous Care Retirement Community (CCRC) charges an entry fee of $402,000, in addition to monthly fees for maintenance and services. Buying into a 55-plus community is an equally big financial commitment.
If you’re looking for an affordable alternative, a senior co-op could be a good option. But before you commit, it’s a good idea to consider the pros and cons.
