Looking for a buy-in elder care facility

[Anonymous]

I see that a lot of assisted living places charge a monthly rent in the $3,000 - $7,000 range or even higher. I am looking for a place that has a buy-in in the $250,000 - $350,000 range, and then a monthly fee in the $2,000 - $3,000 range. My mother is almost 80 and I would like to see her settled in a permanent place where she can live independently in a small apartment now but get nursing care later if she ever needs it. I don't want a monthly rent situation because that can easily escalate to far beyond her ability to pay in the long run. Does this exist anywhere in this price range? TIA for any suggestions, especially in Maryland.

[Anonymous]

Great French style building that reminds you of Paris. Fabulous facility beautiful setting. Close to everything.
Very lively neighborhood with two parks and village center nearby.
https://www.ikfmd.org/independent/?gclid=EAIaIQobChMI7PrL5_ym4gIVDVmGCh21wAvZEAAYASAAEgJsUfD_BwE


Fabulous grounds with apartments and single family homes around the beautiful lake, beautiful landscape, fenced community:
https://www.asbury.org/asbury-methodist-village/?utm_source=gmb&utm_medium=organic&utm_campaign=google-my-business&utm_term=AMV

[Anonymous]

The first link was wrong actually, this is the right link:

https://www.ikfmd.org/

[Anonymous]

You are looking for a "continuing care retirement community" aka "life care" community. Plenty of them around. Be careful and look at their financials carefully as otherwise the large upfront gee you pay for your end of life care is likely. to be wiped out in their bankruptcy.

[Anonymous]

Was she ever an officer in the armed forces? DId she ever work for the federal government and retire as a GS 14 or above?

[Anonymous]

Anonymous wrote:Was she ever an officer in the armed forces? DId she ever work for the federal government and retire as a GS 14 or above?

+1

If so, Vinson Hall in McLean. One example, they redo the kitchens and floors every new tenant.

[Anonymous]

Riderwood in Silver Spring.

[Anonymous]

Try Vantage House in Columbia, Md. https://www.vantagepointresidences.org/

From the site:

Independent home styles include studio apartments, one-bedroom apartments, one-bedroom with den apartments, and two-bedroom apartments. Entrance fees currently range from $144,334 to $677,474, with monthly fees beginning at $2,477.

[Anonymous]

Thank you everyone for your responses, I really appreciate it and will start researching.

[Anonymous]

Ingleside on Military Road. They just did a huge expansion but that may be sold out. We looked into for my FIL, I think there were two options, one was 300k and the other 450k. Depending on which plan, the family get some portion of that back if the parent dies in a certain time frame. There was still a monthly fee of around 1800 at least.

[Anonymous]

My parents are on the waitlist for GreenSpring in Va. It has a buy in, you get 90% back and for a single person it should be around $2000.

They are owned by Erikson Living. Here are the locations in Maryland.
https://www.ericksonliving.com/maryland-retirement-communities

[Anonymous]

Anonymous wrote:My parents are on the waitlist for GreenSpring in Va. It has a buy in, you get 90% back and for a single person it should be around $2000.

They are owned by Erikson Living. Here are the locations in Maryland.
https://www.ericksonliving.com/maryland-retirement-communities

Forgot to mention, if your parent runs out of funds, it gets taken out of the buy in. If that is spent down, they will let them live there until they pass.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Was she ever an officer in the armed forces? DId she ever work for the federal government and retire as a GS 14 or above?

+1

If so, Vinson Hall in McLean. One example, they redo the kitchens and floors every new tenant.

What if she is the spouse of someone in the armed forces? Would she be eligible as a widow?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Was she ever an officer in the armed forces? DId she ever work for the federal government and retire as a GS 14 or above?

+1

If so, Vinson Hall in McLean. One example, they redo the kitchens and floors every new tenant.

What if she is the spouse of someone in the armed forces? Would she be eligible as a widow?

It depends on the facility and most require you to be officers. I'd be very weary of the buy-in. My family member just passed at a nursing home and they required us to pay for the full month ahead and refuse to return the remaining days.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Was she ever an officer in the armed forces? DId she ever work for the federal government and retire as a GS 14 or above?

+1

If so, Vinson Hall in McLean. One example, they redo the kitchens and floors every new tenant.

What if she is the spouse of someone in the armed forces? Would she be eligible as a widow?

. Possibly, it is worth a call.