What do the luxurious retirement communities actually feel like to live in? Are they as good as they claim in the property investment advice centers? Does living in these places truly look like you are well looked after? Do you feel spoiled? When you hear about how they have 24-hour concierges, prize winning chefs, New Age health advisors, six tennis courts and four swimming pools, you do wonder how far you can have faith in these claims. Especially when all of these smashing extras appear to not cost as much as they should. Are these luxurious retirement communities really all that they claim to be?
These places really appear to go flat out. Toll Brothers, one of the most renowned housing construction corporations of the country has been opening four luxury retirement communities round the country each year. One community in Florida, the Sarasota Bay Club has a community theater where they show live broadcasts of all concerts at the Philadelphia Orchestra. In one such community in Arizona, all the homes in the neighborhood are built around a massive well-designed golf course and a facility for continuing care.
So how come they offer all these at decent prices? Do they not wish to raise costs for better revenue? The advantages to their bottom line of raising prices is not lost on these builders. It's just that in the price-sensitive real estate market we are in currently, they do not accept that they could raise prices and get away with it. In three dozen markets across the land, there have been no price rises in assisted living facilities.
Somehow, over time, the standard of living that retirees have started to expect, has risen. Retirees look for organic menus, gymnasiums, entertainment options, luxury environment and they envisage all of these as standard offerings. In other words, they do not expect to pay premium prices for these premium facilities. The price of entry in these places is only part of the final bill. Residents are expected to pay monthly dues, upkeep and security bills additionally. The communities often also have residents sign detailed contracts to do with healthcare costs. Still, places like these might be productive only for the top cooks and massage specialists available anytime of the day or night.
Let's get down to some real figures for what these services will cost. In Monroe in New Jersey, they have taken luxury to another level. There is a 9 hole and celebrity-designed golfing course, clubs for photography and car enthusiasts, sporting activities, an enormous clubhouse and fitness center. Two-bedroom homes here start at about $400,000 each. Monthly charges run to about $350.
These places really appear to go flat out. Toll Brothers, one of the most renowned housing construction corporations of the country has been opening four luxury retirement communities round the country each year. One community in Florida, the Sarasota Bay Club has a community theater where they show live broadcasts of all concerts at the Philadelphia Orchestra. In one such community in Arizona, all the homes in the neighborhood are built around a massive well-designed golf course and a facility for continuing care.
So how come they offer all these at decent prices? Do they not wish to raise costs for better revenue? The advantages to their bottom line of raising prices is not lost on these builders. It's just that in the price-sensitive real estate market we are in currently, they do not accept that they could raise prices and get away with it. In three dozen markets across the land, there have been no price rises in assisted living facilities.
Somehow, over time, the standard of living that retirees have started to expect, has risen. Retirees look for organic menus, gymnasiums, entertainment options, luxury environment and they envisage all of these as standard offerings. In other words, they do not expect to pay premium prices for these premium facilities. The price of entry in these places is only part of the final bill. Residents are expected to pay monthly dues, upkeep and security bills additionally. The communities often also have residents sign detailed contracts to do with healthcare costs. Still, places like these might be productive only for the top cooks and massage specialists available anytime of the day or night.
Let's get down to some real figures for what these services will cost. In Monroe in New Jersey, they have taken luxury to another level. There is a 9 hole and celebrity-designed golfing course, clubs for photography and car enthusiasts, sporting activities, an enormous clubhouse and fitness center. Two-bedroom homes here start at about $400,000 each. Monthly charges run to about $350.
About the Author:
Michael Cooke has been writing about part exchange property and property investment advice for some years. Read more at Which Property Mentor.
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