Anonymous wrote:We worked with a senior living advisor when our parents were deciding since all of the kids live out of state and our parents wanted to stay in the same area. They were able to explain the different types of living situations and take them on tours. Yes, they are paid by certain communities but the person we used was very upfront about that (she was also recommended by a friend). We used this company
https://www.oasissenioradvisors.com/. My parents ultimately picked one where the advisor was not paid.
Going in we thought our parents would be better buying a condo in a senior facility but once they toured what they thought they wanted they changed their mind. They ended up at a CCRC in independent living that has the option to move to more assisted if need be. They've been there for about a year and a half and are finally starting to get more involved in the community. Theirs was a minimal buy in with higher monthly fees. FWIW just to give you an idea, their monthly fee for a 1BR plus den is $5,100/month in the Baltimore area.
Definitely go over all of their finances to see what they can afford. We modeled it out to see what they could afford in several scenarios like if one died before the other, if one needed to move to assisted living, if they both needed to move to assisted living, etc. Knowing what they can afford is key before starting anything else.
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