Erickson Tribune

Henry Ford

UPDATED: Friday, January 11, 2008

The savvy consumer

Posted on Tuesday, January 08, 2008
 

By Laura Hipshire
THE ERICKSON TRIBUNE

One of the most important decisions you will make once you’ve retired is deciding where you will live. There are many types of retirement communities from which to choose, so it really pays to do some thorough research on 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 once 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? Another local community, Henry Ford Village, offers a 100% refund.

What if you would like to move but aren’t quite ready to sell your house yet? The community that offers the 90% refundable entrance deposit doesn’t appear to have any “wiggle room” when it comes to moving without selling your house. Alternatively, Henry Ford Village has a teired pricing program, which offers retirees the option of making a smaller initial investment to secure their new home with a slightly higher monthly fee. For each $5,000 increment that a person pays toward their “buy-in” price, the monthly service package only increases by $33.

It’s all in there …or maybe not
And 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 Henry Ford Village, offer maintenance-free living that includes all such services.


Henry Ford
Image
More Henry Ford

Rising living costs has retirees looking for options

School supply drive a success

Local artist wins

Wellness garden encourages walking

Read or Add a Comment?

A call to end Erie Pa.'s relationship with "sister city" Zibo, China, and all Chinese imports.

No URL for Riderwood Blog

Laughter Yoga

Happy hour hot spots?

Model yacht clubs

Your thoughts on Reflexology

Tools

Write a Comment on Story

Print

Email Story

Add to Favorites

Compare retirement communities as to how they are ranked overall. Of all the retirement communities specified in a recent survey conducted by Erickson Vice President of Research Bill Tamulonis and Market Research Analyst Amy Reilly, Henry Ford Village received the highest ratings in the categories of “familiarity” and “one of the best.”

How do they rank?
The survey involved 2,000-plus homeowners, each with at least one person over 70 in the home. One of the survey’s main objectives was to measure opinions of various senior housing categories—comparing strengths and weaknesses. A survey such as this helps substantially when you’re researching retirement living options.

While the average familiarity rating was 30% for all retirement communities, Henry Ford Village rated 61% among people surveyed. When compared to other retirement communities across the country, the Dearborn community led the pack and was rated “one of the best”.

Planning ahead
Henry Ford Village has more than 1,200 community members, as well as more than 700 Priority List members—people who are waiting to move. One former Priority List member, Raylene Donaldson, was planning to move to Michigan from Lake Arrowhead, Calif. She wanted to be closer to her only daughter, Kathy, who researched retirement communities in Michigan for her mother.

“Kathy looked at every available place in Michigan and sent me pictures of  them on the computer,” Donaldson says. “I remember she called me one Friday afternoon, totally excited, and said, ‘Mom, Henry Ford Village is the only place for you … there isn’t any place else.’  So I told her to go ahead and start the process.”

Long-distance arrangements
Do some digging and find out what your options are if you are moving a long distance like Donaldson. Or invite your family to get involved in helping you make the decision.

Although she was thousands of miles away, Donaldson was able to arrange new kitchen cabinet and carpeting installations for her home-to-be in Michigan.

Donaldson sold her condo in California. And when she arrived at Henry Ford Village before her furniture, she was impressed with the response from staff members, who provided her with comfortable sleeping and dining arrangements in the interim.

“Everybody here was just wonderful; everything was ready for me,” she says.

“My new home has an outside patio, which I love dearly,” she says. “I’m an outdoor person, so I knew I would spend a lot of time out there. I was thrilled with everything about it.”

Donaldson has been using the medical center on campus, as well as Erickson Advantage, a Medicare Advantage plan only available to residents of Erickson Retirement Communities. “There isn’t anything in California like this,” she says.

“I’m so happy here. I definitely made the right decision to move here, and I think so more every day. This place just has it all,” she says.

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—the “freedom years.” Savvy retirees such as Donaldson have done their homework and can now sit back, relax, and enjoy their new homes.



 Other Community News

    

Click Here to Order Now!