By Laura Hipshire
THE ERICKSON TRIBUNE

One of the most important decisions you will make once you’ve retired is deciding where to live.

There are many types of retirement communities to choose from, so it pays to thoroughly research what each one offers before you make a substantial  financial commitment.

Protect your savings
Most retirees have saved up a nest egg they want to protect. When exploring retirement living options, ask yourself: What will happen to my savings when I move?

For example, one retirement community offers a 90% refundable entrance deposit. From the outset, that sounds fairly substantial. Is that the best that’s out there, though? Still another, Fox Run, in Novi, offers a 100% refundable entrance deposit that guarantees your money’s safe return if you decide someday to move.

It’s all included . . . or maybe not
When it comes to amenities, it pays to research and read the fine print to see what’s included and what’s “à la carte.”

Are your taxes included? What about maintenance services such as snow removal and lawn care? Some communities may tack on extra “hidden” fees for many of these services while others, like Fox Run, offer maintenance-free living that includes all of these services.

“I have found that, dollar for dollar, I’m really getting a good value. The thing that matters most to me is the future—it’s secure. And my children will benefit from the refundable entrance deposit,” says Frances Prior, who moved from Birmingham to Fox Run.

Prior and others who have moved to Fox Run no longer have to worry about maintaining their homes or rising utility and tax bills; they only pay two bills a month—one for their monthly service package and one for their telephone bill.

It’s never too early to do some comparison shopping and number crunching to find out where you’ll be spending some of the most important years of your life. Savvy retirees such as Prior have done their homework and can now sit back,  relax, and enjoy their new homes.