3 Little-Known Fees for Retirement Community Homes

A nursing homes retirement community allows seniors to enjoy the company of their peers and many communities provide a social outlet. Nonetheless, there are little-known fees that can catch you off guard if you’re not prepared. Here are just 3 examples:

1- Recreational Fees

One appeal of homes in a retirement community is the opportunity to participate in recreational activities. That opportunity comes at a cost. You may have to pay to maintain recreational facilities and for the planning component involved with them.

2 – Entrance Fee

Some communities require you to pay an entrance fee as part of the application process. These fees can cost several thousand dollars. Find out whether the fee is partially or fully refundable should you decide to live in that community.

3 – Additional Services

Not all services available to you in the retirement community are included in your monthly payment. You could end up paying additional money for the services you need.  Ask for a list of those additional services and costs upfront.

Don't let hidden fees catch you off guard.  Make sure you inquire about any additional charges that you may be expected to pay before you make any commitments. 

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