I am really scared about when my husband and I retire. Actually I am on disability and he has to retire at 53. Anyway my mom is at a facility for rehabilitation therapy and I was looking and they have villas to purchase. What is the process? Do you just move on to the next level of care you need and use the money from selling your villa to pay for the next level of care? I assume it’s AL or even NH.

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Staffbull18, if you live in a metro area, you can find a large variety of senior living available, some where you purchase the townhouse or condo, other's where the down payment is similar to the cost of a purchase price where one can get back 80% or 90% what they paid, others are rentals.

There are the 55+ communities for senior who are active. Usually such communities you purchase your residence. There is a large monthly HOA fee. Usually you need to bring in paid caregivers to help.

There are communities where one buys into a condo, some of which are over 2,000 sqft. If you move from the community you get 80% to 90% back. Again, large monthly condo fees. Some of these communities offer Assisted Living apartments, and Memory Care studio apartments, usually these are rentals. So you can move one step up as you need more care but still be around the friends you made.

Then there are the smaller complexes where you rent an apartment in Independent Living for around $5k per month [rentals vary location to location]. And there is a list of care options that you can pay for as you need them, some care options are built into the rent. Then if you need a higher level of care, you can easily move over to the next building or upper floor to a studio apartment for around $6k or more. Some do allow Hospice. My Dad was in one of these complexes and he really liked it.

It depends on what you can afford. In my area, where one buys a townhouse the prices are in the $500k. The community that offers large apartments up to and over 2,000 sqft cost $750k, smaller apartments around $450k. The HOA fees I noticed were $2k per month.

I was glad my Dad choose a smaller complex where it cost him $5k per month rent with no HOA fee. The rent included weekly housekeeping, linen service, and one meal in the restaurant styled dining room. As my Dad's memory started to slip, he could still find his way around as the place wasn't that large.

My mom is in a continuing care facility. It's very nice. She paid for her independent living apartment and has a monthly fee which includes one meal a day, house keeping, and all activities. They have a doctor's office, bank and beauty salon etc. As she ages they have an assisted living building and a memory care/nursing home. They try to keep clients in independent living as long as possible by offering (for a fee) other services. If my mom moves on they will sell her apartment and the money will be spent down on her next step. If she passes 80% will be returned to her estate. Some places have a lower buy in option for a smaller return.
Make sure that your mom is ok to live in a separate villa. My mom started in a community like that and it quickly became too difficult for her to go to the main building for meals and activities so she was isolated. Maybe find someplace that is easier to get to the meals and activities so she won't have to move again sooner than later. Make sure they have all the levels of care so you won't have to find a new facility when her needs become more. Good luck!

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