How Are 55+ Communities and Life Plan Communities Similar?

Unless you’re one of the rare people who enjoys making sure the lawn is taken care of, unclogging a drain, or handling other household upkeep and maintenance, you’re probably exploring true maintenance-free options that senior living communities can provide. As you’ve done your research, you’ve more than likely come across terms like “55+ communities” and “Life Plan Communities.” While they share quite a few similarities, there are also a few important differences to understand.

What is a 55+ Community?

55+ communities, sometimes called active adult communities, are similar to typical residential neighborhoods, except they have a minimum age requirement and are designed for a retirement-friendly, low-maintenance lifestyle.

These communities may include single-family homes, duplexes, condominiums, or townhomes, with residences owned by the individual. Interior maintenance and daily upkeep are typically the responsibility of the homeowner, while exterior maintenance is usually covered by monthly homeowners’ association (HOA) dues. Other than HOA dues (and a possible mortgage payment), there are generally no additional monthly fees required for residents of 55+ communities.

Pluses and Minuses of 55+ Communities

Because these communities are residential neighborhoods designed to attract active adults looking to downsize from a larger home, they offer many opportunities to enjoy life.

Pluses include:

Social life. You’ll live among people of a similar age with shared interests and goals.
Resort-style amenities. Some exterior maintenance may be included, and community amenities — such as tennis courts, golf courses, swimming pools, and fitness centers — may be available as part of your monthly fees.

Minuses include:

Selling your 55+ residence. Because there’s a limited pool of buyers eligible to purchase in a 55+ community, it may take longer to sell your home.
Taxes and utilities. You’re responsible for real estate taxes, insurance, garbage collection, interior maintenance, appliances, utilities, internet service, and cable or satellite TV.
No on-site care options. If you or your spouse needs higher levels of care, you may have to move again or pay separately for both the 55+ community and needed care services.

What is a Life Plan Community?

A Life Plan Community is also commonly thought of as a retirement community, simply because most residents are retired. However, these communities offer an active lifestyle along with freedom from the hassles of home maintenance. Residences are available in a variety of floor plans and sizes.

At a Life Plan Community, you’ll find helpful services and amenities designed to make daily life easier and more convenient. Common offerings include housekeeping, linen service, dining plans, transportation services, concierge support, and security. Amenities often include a fitness center, pool, multiple dining venues, a full-service salon and barbershop, arts and crafts studios, and a full calendar of classes, clubs, discussion groups, and more.

Pluses and Minuses of Life Plan Communities

Life Plan Communities include a level of living known as independent living, which is ideal if you’re in good health. You can continue living life as you do now, but without the concerns of maintaining a home — along with the added assurance of on-site care if needed.

Pluses include:

Maintenance-free lifestyle. Life Plan Communities have knowledgeable teams to take care of all your home’s needs, inside and out.
One-and-done simplicity. Your monthly fee covers a wide variety of services and amenities, wellness programs, indoor and outdoor maintenance, a full calendar of activities, and dining services.
Social opportunities. Scheduled parties, happy hours, special events, and outings with neighbors who share your interests ensure you’re never at a loss for things to do.
On-site care. If you or your spouse needs long-term health care, you won’t need to move again, and you’ll remain close to familiar faces.
Tax savings. A portion of your entrance and monthly fees may be tax-deductible. Consult your tax adviser for details.

Minuses include:

Decisions, decisions. With a full calendar of classes, events, committees, and clubs, you may find it challenging to fit everything in.
Unneeded care. You may pay for care you don’t ultimately use. However, according to the U.S. Department of Health and Human Services, 70% of adults age 65 or older will need some type of long-term care for an average of three years.

What Does “A Continuum of Care” Mean?

One of the biggest advantages of a Life Plan Community is not having to move if you need help with daily activities or even round-the-clock care. Life Plan Communities provide access to higher levels of care — including assisted living, memory care, skilled nursing, and rehabilitation — all conveniently located on-site.

See the Benefits of a Life Plan Community for Yourself

If you’re considering your senior living options, look no further than North Bay Tower at Plymouth Harbor. Our new expansion combines an upscale lifestyle with breathtaking bay and Gulf Coast views. To discover more, attend one of our Priority Club events by calling 941-367-2554 or visiting our events page.