With interest rates at a record low and first time home buyers taking advantage of the $8000 tax credit to buy a home, the time is right for seniors to consider a move to a Continuing Care Retirement Community (CCRC).

Liz Egner , GRI, CRS, EPRO, Associate Broker, Remax of Reading, describes the current real estate market with enthusiasm. “My advice is to stop being glued to the TV. There is good news in the market place. It just never gets big headlines.”

“By moving to a CCRC now, you will be able to take advantage of all the incentives that are being offered,” continues Egner. “The value in these housing options is wonderful and the lifestyle is amazing!”

Robert and Nelda Simonson are in their 70’s and recently moved into a new 1,700 square foot cottage at Phoebe Berks Village in Wernersville. “It’s the best move we’ve made,” said Robert. Though the decision to downsize was relatively easy, they put a lot of thought into finding the ideal location. Their advice is not to wait until it’s too late or you may not find a spot where you want to move.

A CCRC allows independent living residents to move to different levels of care, such as assisted living, skilled nursing and even a memory unit if their health requires it in the future. It also allows you to unload unnecessary items and simplify your life while moving to a home that is better suited to your present situation.

The move is often extremely cost effective and many times the equity in your existing home is more than sufficient to cover the buy-in fee. There are many expenses that are included in the monthly cost, and many others you simply no longer have.

For example, at Phoebe Berks, the monthly service fee includes a meal plan, 20 days in the infirmary per year per cottage, water, sewer, trash removal, taxes, scheduled transportation, social and recreational activities, all maintenance, snow removal, lawn service, repair or replacement of appliances, 24-hour security and emergency response.

Most Continuing Care Retirement Communities offer a variety of financing and entrance fee plans to preserve both your assets and your peace of mind. Some require a one-time entrance fee with monthly payments after, while others operate on a monthly rental basis with no entrance fee. Most offer a choice of finance plans and refund options (70% or 100% refund policies are common) to meet the needs of prospective residents.

CCRC’s offer different types of independent living contracts which address housing, services and healthcare for life. LifeCare communities provide access to all levels of healthcare as a part of your entrance and monthly fees, while fee-for-service communities charge only for the services you use.

How will you know which CCRC is right for you?

As with any major life change, it is beneficial to do as much research as possible. Visiting a community and asking questions will reveal more than their marketing materials can tell you about the overall lifestyle experience. Here are some suggestions of what to look for:

• Talk with current residents to get their opinions of what life is like on campus. How much influence do they have over their daily lives? What do they like best? Is there anything they don’t like?
• Observe the staff as they interact with residents and visitors. Are they friendly, knowledgeable and responsive? Did you feel welcomed while on the tour?
• Assess the accessibility, safety and security on the campus. How is the community staffed? What would happen in the event of an emergency?
• Inquire as to what kinds of financing plans and contracts are available. Do the math – is this something you can afford? Are there any current incentive packages?
• Find out what services and amenities are included and available for you to enjoy.
• Look past the décor to determine whether the facility is clean, updated and well-maintained.
• Tour the grounds and outdoor spaces. Is it landscaped and well-maintained? Are there resident gardening areas and places to gather?
• Review the admission policies and residents’ bill of rights. Get a clear explanation of all options.
• Sample the cuisine and evaluate the menu. Is there a diverse selection of entrees and side dishes? How is the overall dining experience?
• Check the activities calendar for programs and events that interest you or will allow you to continue to pursue lifelong interests. Is there a variety of activities offered? Is there a resident newsletter?
• If you want to move with your beloved canine or feline companion, ask about pet-friendly policies.
• Consider the size and “feel” of the community. Could you be at home there? Does the community’s level of formality or informality match your lifestyle?
• Evaluate the geographic location. Are there area attractions, cultural events or recreational opportunities nearby? What is the proximity of the campus to family?

If you are looking for a worry-free and vibrant lifestyle in a close-knit community of your peers, now is the time to make a move.

Be sure, though, to invest some time in getting to know a community and making sure you feel comfortable before making a commitment.

Call Joan Etcherger, Phoebe Berks Marketing Coordinator at 610-927-8550 to find out more about this senior living option.