Did you know that over 55 million Americans are older than age 55 in the United States? As the Baby Boomer generation enters their retirement years, it is a popular decision to downsize, move in with family, or try another option for senior living.
Two of the most popular senior housing preferences are retirement communities and independent living. You may be wondering, what is the difference between a retirement community vs independent living? Here is a brief explanation that will help you decide which is right for you.
What is a Retirement Community?
A retirement community is a housing complex that only allows residents older than 55 to live there. Some communities have hard rules about the age minimum, while some market to seniors but allow people of all ages to move in.
Retirement communities are made up of condominiums, apartments, or houses. They offer flexibility in that you can rent or own your property as well. However, you may end up paying a bit extra every month for an HOA fee, which contributes to costs such as trash, maintenance, and landscaping.
In addition, most retirement communities have a clubhouse, gathering area, pool, or other amenities for residents. This is where people can go to play games and connect with people in the same stage of life.
The cost of living in a retirement community can vary depending on location and the types of housing offered. However, many retirement communities have a cap on rent or offer reduced rates for seniors who live on a fixed income.
What is Independent Living?
Although they may sound similar, independent living is very different from a retirement community. Independent living is a type of assisted living, where residents can get help with tasks such as cleaning their units.
Most independent living communities have lease agreements where residents pay monthly rent. Your monthly rent will cover your room and board, but can also take care of cleaning fees and meal plans if you choose.
Independent living communities also feature amenities such as shared dining halls, game rooms, libraries, pool tables, and even gyms. This will allow residents to do a lot of activities without having to leave the premises.
Like retirement communities, the cost of independent living is flexible. However, the cost will rise if you need more assistance. Get more info here on everything that independent living communities have to offer.
Retirement Community vs Independent Living
If you are still thinking about retirement community vs independent living, you should not have to worry so much about which one you will choose. With this guide, you can make an informed decision on where to spend the next phase of your golden years.
Would you like to learn more about how you can flourish as a senior citizen? Take a look around our website for ideas and inspiration to make your retirement that much more special.