September 30, 2023

Watermark retirement communities !

watermark retirement communities

watermark retirement communities

Choosing a retirement community is a big decision. The choices you or your loved ones make affect your finances, quality of life, and in many cases, your health and longevity. Here are the four main types of retirement communities, how they work and how much they cost.

Independent life

Independent living facilities, also known as senior apartments or 55 year old residential communities, are for seniors who need special medical care or assistance with daily activities. They consist of private homes that usually have a kitchen or dining area and range in size from studios to two bedrooms.

According to, a premium living website, rents can range from $1,500 to $3,500 per month. Rental prices depend on apartment size, geographic location, and convenience. Some self-sustaining communities also have high purchase prices. Others have a low entry fee of $750 to $1,500, while others have little or no entry fee.

Some independent living services include utilities, food, housekeeping, basic care, and monthly rent and scheduled transportation to the doctor, while others list these costs separately. In general, costs may be similar to what you’d pay if you lived at home, but independent living communities offer a less demanding lifestyle and perhaps more opportunities for social interaction.


Assisted living communities are for people who do not need the high level of care that nursing homes provide, but still need help with everyday life. Assistance can include assistance with dressing, bathing, and toileting, as well as medication reminders. Assisted living is also suitable for Alzheimer’s patients with early-stage memory loss, dementia, or those who need extra support, care and security.

According to the Genworth Long Term Care Report, the average monthly living wage for private, room, board, housekeeping, and some personal assistance is $4,300 per month. Genworth estimates costs will rise to $5,611 per month by 2029.

Affordable housing costs can vary depending on where you live. For example, the monthly fee in Washington, D.C. is $6,000 higher than the national average. A nursing home in Arkansas costs an average of $3,500 per month, according to Genworth.

Constant care

Permanent care retirement communities specialize in providing long-term housing for seniors. Residents can live independently. If necessary, there is the option of moving to foster care and foster care before moving to a new facility.
According to the AARP, continuing care benefits are the most expensive retirement community. Entrance fees can range from $329,000 to $1 million. Additional monthly payments range from $3,000 to $6,000 or more, depending on the type of home, level of maintenance, and other options. The price also depends on the type of contract the tenant chooses.
Term life insurance, also known as an unlimited policy, is the most expensive type, but payouts are for the long term. Special contracts cover certain services for a certain period of time, after which the price may increase. A fee-for-service agreement can be thought of as a payment plan. Although no deposit is required, you always pay the current market rate.


In addition to the above considerations, it is important to assess the financial stability of the planned facility, especially if it is highly paid. Also check the agency’s complaint history. Before you head out into the community, see if you can arrange a quick visit, maybe two nights, to get a feel for what it’s like to live there.