Choosing a senior living community or retirement home can feel overwhelming, especially if you only have a short timeframe to decide. Use the questions below to choose a retirement home or community that fits your lifestyle and long-term goals (or those of a loved one).
Senior citizens have an abundance of housing options ranging from homes in communities for active adults to CCRCs (Continuing Care Retirement Communities), and everything in between.
With so many options available, it often makes sense to start with your priorities. For example:
Do you enjoy having big family gatherings? If so, narrow your search to homes or townhomes with a great room and a sizable kitchen.
What about pets? Many communities allow pets, but may limit the number or size.
If you enjoy gardening, look for retirement homes with garden plots or senior communities that allow you to modify the exterior of your home (some communities require approval).
Own an RV or boat? Inquire about storage options and fees.
What do you like and dislike about where you live currently? Consider both the interior layout of your home as well as the general location. For example, is it more important to live near a hospital or an international airport?
Are you at a point in your life where you’re ready for someone else to do the cooking? If so, look for senior living communities with multiple dining options or a retirement home with a variety of restaurants nearby.
What are your favorite activities and what are you curious about? Sitting around in a cardigan and playing cards is an option, but some communities have artist studios for painting, pottery or woodworking. Not crafty? Look for a community with a golf course and well-appointed workout facilities.
For seniors in a less active phase of life, many retirement homes and CCRCs provide staffed outings to museums and grocery stores. Others have weekly entertainment.
Hopefully, you’re starting to get a sense of the many options available. Other considerations may include:
If you live long enough, there’s a good chance you will need assistance with daily living. Many people don’t want to think about this part of the aging process, but hoping it won’t happen isn’t the same as having a plan.
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SOURCE: JPMorgan Guide to Retirement 2026
Many retirement homes don’t have skilled nursing, which means an elderly person may have to move when they need additional care. CCRCs, by definition, include skilled nursing and are a better choice for some. At a CCRC, retirees typically move into the active living part of the campus and transfer to assisted living or memory care, if needed.
It can be hard to imagine a time when you or a loved one can no longer live independently, but it’s better to make a well-informed decision when time is on your side. Use your personal network to find people with family members in a CCRC and those who helped loved ones move from a retirement community to assisted living. Their insights can help you choose what’s best for you and your family.
Once you have a list of “must-haves” and “nice-to-haves” for your future residence, you’re ready for the next step: touring different communities.
When touring a facility, come prepared with a list of questions. Here are a few to get you started:
The National Institute on Aging (NIA) has a list of specific questions to ask when visiting a nursing home. The institute suggests making an appointment for your first visit, but making a second visit without calling ahead. For the second visit, the NIA also recommends choosing a different day of the week than your first visit, which may allow you to meet different staff members.
It’s also important to ask about the community’s financial situation. Are they for-profit? Not-for-profit?
A for-profit community can change ownership at any time. Ask what could change if the community is sold.
Non-profit and not-for-profit communities rely on a steady stream of occupants to maintain their facilities. Ask about historical current occupancy rates, long-term debt and for a copy of the previous year’s balance sheet.
A financial advisor can help you assess the financial information provided.
Most CCRCs have an entrance fee that can range from $90,000 for small studios up to half a million dollars or more for a more spacious residence. According to US News, the average CCRC entrance fee is $400,000. In some communities, the entrance fee is partially or fully refundable if the resident moves out or passes away.
Both CCRCs and retirement communities charge a monthly fee. These fees range from $2000 – $8000+ per month. Lower monthly fees typically cover utilities, maintenance and access to community areas. Communities with higher fees may provide housekeeping, meals, local transportation and other amenities.
At this point, you may be wondering: Should I buy long-term care insurance? Our recent article answers this question in-depth, but the short answer is: for people with significant savings, it may make sense to pay out of pocket. A financial advisor can make recommendations based on your specific situation.
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SOURCE: JPMorgan Guide to Retirement 2026
A financial advisor can also recommend tax-efficient ways to use your assets to cover entrance fees and monthly fees. For example, a portion of CCRC entrance fees and monthly service fees can sometimes be classified as prepaid medical expenses. This can offset income from Required Minimum Distributions (RMDs), for example.
You’ve worked hard and saved well. Our friendly and experienced wealth managers can help you avoid common pitfalls and gain peace of mind about the next phase of your life.
We take a client-focused, collaborative approach to financial planning. First, we want to learn about you and your ideal vision for retirement. Next, we’ll develop a custom strategy tailored to your evolving needs. Connect with us online or give us a call at (415) 541-7774.
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