Don’t Overlook These Important Details When Finding a Retirement Apartment

When searching for a retirement apartment for yourself or for you and your partner, you want to think about more than just its appearance and the initial purchase price. You and your partner may have unique needs at your age, and there may be hidden costs that you're not considering when making your purchasing decision. Note a few important details in all these areas that you don't want to overlook when you're shopping for a retirement apartment to buy.

Warden service

Warden service may sound like an apartment complex is a prison, but this term may sometimes be used for having a manager onsite, around the clock, and every day of the year. If you or your partner have special health needs, such as balance or vision issues or problems that mean you may occasionally need minor assistance, you may want to find a complex with such a 24-hour manager. This can ensure that there is always someone on hand to help with such concerns, even after hours.

Upkeep of the building

When buying a retirement apartment, you may be part of an HOA, or homeowner's association, or what is called a strata. This refers to many individuals having shared ownership of a building itself; you may then be responsible for several aspects of the building's upkeep. Very often there is a hired manager or management company that performs all upkeep on your behalf, but be sure you know what parts of the building are your responsibility, as an owner, and what the costs are for the manager or management company hired.

Note age limits and who can buy

Note the age requirements for any type of retirement apartment, not just so you know that you would be allowed as an owner, but also to consider how much noise and commotion there might be in the complex. If there is no age limit and a complex you're considering is not technically for retirees or senior citizens, you may have lots of noise, music, crowds, parties, and the like. If you're looking for something very quiet, don't assume that a "retirement" community automatically means senior citizens only. Also, if your partner is much younger than you, note if there are any limitations for him or her as well; if you're married, it may not be an issue, but those who just live together may run into some difficulty with having their partner allowed as a resident or owner.

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