We live in a Type A CCRC (Heron Keys) one of the few Type A outside of the Seattle/Bellevue Metroplex. After Covid we went from around 80% occupied to 98% occupied as of last month. Because of Covid when we had no move-ins for over a year, the operator probably lost 18-24 months of active interest. Last week we had 6 move ins. You only have to look at the demographics to see how quickly the first wave of boomers are now looking to CCRC living.
Our property is now full after losing two years of sales from Covid. From no waitlist to waitlist in almost a blink of the eye post Covid. We moved in our early 70's to get closer to DD and grands and had no interest in moving twice. My research turned up one analysis that convinced us that an "early" move-in was a good strategy as it delivers a lot of the benefits while you are most likely to have the health and vigor to get maximum benefit.
No one IMHO considering a CCRC should do so without due diligence of the property's financial health. If numbers are not your thing than hire a qualified resources. Due diligence includes careful inquiries of current residents around their sense of operations effectiveness and any signs of deferrals of repairs and long wait periods for repairs. Our property is about 7 years old and original appliances are starting to fail. Our dishwasher failed along with several other apartments. Maintenance discovered original contractor made a poor choice of valves. Since we are a multi-story property, valve failure impacts at least two units so Mgtmt has quickly deployed moisture alarms to all units.
Nevertheless, after initial discovery in our unit failure Thursday night we had a new unit installed the following Tuesday. I shutter to think how long we would have waited for a tech if we still in our house.
Finding YOUR preferred CCRC is way harder than moving to a new town. But the beauty is that when done, it is likely to be the last time.
Our property is now full after losing two years of sales from Covid. From no waitlist to waitlist in almost a blink of the eye post Covid. We moved in our early 70's to get closer to DD and grands and had no interest in moving twice. My research turned up one analysis that convinced us that an "early" move-in was a good strategy as it delivers a lot of the benefits while you are most likely to have the health and vigor to get maximum benefit.
No one IMHO considering a CCRC should do so without due diligence of the property's financial health. If numbers are not your thing than hire a qualified resources. Due diligence includes careful inquiries of current residents around their sense of operations effectiveness and any signs of deferrals of repairs and long wait periods for repairs. Our property is about 7 years old and original appliances are starting to fail. Our dishwasher failed along with several other apartments. Maintenance discovered original contractor made a poor choice of valves. Since we are a multi-story property, valve failure impacts at least two units so Mgtmt has quickly deployed moisture alarms to all units.
Nevertheless, after initial discovery in our unit failure Thursday night we had a new unit installed the following Tuesday. I shutter to think how long we would have waited for a tech if we still in our house.
Finding YOUR preferred CCRC is way harder than moving to a new town. But the beauty is that when done, it is likely to be the last time.
