Questions to Ask on Retirement Living

• Many retirement-living facilities recognize the need for residents to have exercise space. Andrew Bret Wallis/Digital Vision/Getty Images

  People are living longer than before, leading to an increase in the number of senior Americans. Many of these individuals eventually decide to enter retirement living, also known as senior living. This refers to moving into an apartment or other facility that, while maintaining privacy and independence, provides some living assistance to residents. To get the best care and living situation, you should ask questions before moving into such a facility.

Financial Status

• If your retirement-living community still is in the process of being built or renovated, you should inquire about the developer's financial history. If the developer has been in money trouble in the past, this could be an indication that your investment in your retirement home is at risk. If the facility is already developed, ask how long the facility has turned a profit, whether they have experienced high employee turnover and whether the property is under mortgage.

Fees

• Some retirement-living communities charge entrance fees along with other fees. Ask what fees are required for your application to be accepted. Also ask whether those fees are refundable and how you get the refundable deposits back.

Tax Deductions

• Some costs associated with retirement living are tax deductible. Any licensed tax agent should be able to tell you what expenses you can deduct. Ask if the community provides documents that assist with taking the deductions during tax time and if they will help you fill out the forms.

Included Amenities and Services

• The amenities and services provided in retirement-living communities vary greatly. For example, some provide full fitness facilities, while others only have a pool. Others may provide full meals delivered to you, while others have a place where you can cook with assistance and eat together. Ask for an itemized list of what your payments cover.

Demographics and Community Ties

• Some retirement living facilities advertise a minimum age for residents, but this doesn't mean that the majority of the residents are at that age. Check about this and the gender/race ratio. Distribution should be even. Ask about what activities the facility has for all residents that help them continue as active members of the surrounding community.

Levels of Care

• Some retirement living communities are designed to be only minimally invasive to residents. Others provide 24/7 assistance. Not all deal with those with dementia. Ask how much care is available and how you can choose your assistance level.

Guest Accommodations

• Retirement living should not isolate you from friends and family. Inquire about guest accommodations, such as whether guests get free parking, a meal and a place to sleep. Ask if there is a visitor fee or if they need a visitor pass.

Insurance Requirements

• To protect their employees and your own interests, some retirement facilities require you to hold various types of insurance to be a resident. For example, you may need long-term care insurance. Ask whether this is the case at your facility and how much the insurance will cost if required.

Pet Policies

• If you have a pet at home, you'll need to ask whether the facility will accept it. If they won't, you'll either have to find a similar facility that will or find a good home for your pet.