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Road to Retirement: The Cost of Homeownership vs. A Life Plan Community

When it comes time to plan for the future, it’s important to consider a wide range of factors. Where would you like to live? What kind of lifestyle do you want to enjoy in retirement? How much can you afford? Is health care readily available? There’s no shortage of questions. Oftentimes, the most important of all of these questions has to do with costs.

According to Cristine Royer, Director of Marketing and Sales at The Estates at Carpenters, a Life Plan Community in Lakeland, Florida, many seniors and their families believe retiring at home is the best option – but that’s not always the case! “Whether seniors and their families believe this is the best option because they perceive it as cheaper or because they have preconceived notions about Life Plan Communities, the truth may come as a surprise,” says Cristine. “After all, as compared to the cost of homeownership, Life Plan Communities offer a higher value with peace of mind and, often, a lesser cost. It really is the retirement that older adults deserve!”

The Cost of Home Ownership & Life Plan Communities

Whether you or a loved one are in the planning stages, it can help to consider the range of costs you can encounter in retirement. To provide an idea of what your retirement costs can be, we’ve broken it down for you.

  • Rent or mortgage. When you live at home or move into a community where you buy your home, you have to pay for a mortgage – and don’t forget about taxes and insurance! Add the cost of this up, it might surprise you. At The Estates at Carpenters, with a one-time entrance fee and one monthly fee, everything you need is included.
  • Dining. When you live at home, you are still responsible for grocery shopping – plus cooking and cleaning dishes. Not only does this take up a lot of time you could be spending doing the things you love, but it can also be costly. At The Estates, we offer delicious, chef-prepared dining, so you don’t need to worry about going grocery shopping, getting through a recipe just to see you’ve run out of a crucial ingredient or spending all that time cooking and cleaning!
  • Housekeeping and home maintenance. Are you paying someone to come clean your home on a regular basis? Or are you spending your valuable time dusting, mopping and wiping countertops? At The Estates, you spend LESS time on housekeeping and MORE time doing the activities you love! Plus, when you own your own home, you also have to worry about the cost of repairs when something breaks (and deal with getting it fixed!). You may spend hours doing yardwork in the hot sun – or pay someone to do it. Either way, The Estates at Carpenters takes away those worries as these services are included.
  • Utilities. Add up your utilities like water, sewer, electricity and trash. When you own your home, you must maintain these costs and sometimes they can fluctuate. Even if they don’t, you still have the hassle of thinking about paying multiple companies. At The Estates at Carpenters, your utilities are paid as part of your one simple monthly fee.
  • Programming and activities. Do you go to the gym, enjoy going into town or love meeting with your friends? Many people believe that when you move to a Life Care Community your social life diminishes, but this couldn’t be further from the truth. In fact, you have easier access to a wide range of people, programming and activities that you can enjoy. Add up any health club memberships, social club fees and the cost of extras to see how much this adds to your monthly finances.
  • Transportation. Consider the cost of your car, the insurance and maintenance on it. Over time, this adds up drastically. You are also faced with uncertainty as to if something will break or if it will last. At The Estates, scheduled transportation is offered to take this worry from you and give you peace of mind.
  • Health care. As seniors age, the cost of healthcare rises. It’s hard to predict what changing health needs will cost – which leaves older adults uncertain about future finances. With Lifecare at The Estates, you have the security of knowing you have access to future care if needed – from a community and team you trust – at the same monthly rate you pay for independent living. It’s complete peace of mind.

After all of this is considered, add everything up and compare the cost. Many people see a noticeable difference in the cost of staying in their home during retirement versus upsizing their lifestyle to a Life Plan Community such as The Estates. If you or a loved one are considering a move or would like to see how a worry-free lifestyle can help give you peace of mind, contact us today!

Experience What It Means to Have True Peace of Mind

With the security and peace of mind of Lifecare, it’s no surprise why The Estates at Carpenters is the right choice for a perfectly planned retirement lifestyle. Schedule a tour and talk to our residents and team about why Lifecare at The Estates at Carpenters just makes good financial sense! Discover the uncompromised retirement lifestyle you deserve. Schedule your visit today!

About The Estates at Carpenters

The Estates at Carpenters is a Life Plan Community offering worry-free independent living, assisted living and high-quality skilled nursing care and rehabilitation. For over 30 years, The Estates has provided older adults in the area with an active, engaging lifestyle filled with abundant choices and the amenities and services that make life easier. A lifestyle designed to keep older adults healthy and well today – and tomorrow.

For more information on The Estates or to RSVP to an upcoming event, contact Cristine at 863-853-5505 Ext. 142 or visit our website.

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