Renting in a full-service retirement community: An outstanding option for many seniors
Heritage Pointe of Teaneck an excellent example of reduced costs, worry-free lifestyle
TEANECK, NJ (May 11, 2011) – The value of homes hasn’t increased for several years now, so renting within a retirement community is becoming an increasingly attractive option for many seniors.
Often, it’s a question of which living arrangements are most financially beneficial, and renting within a retirement community like the 140-apartment Heritage Pointe of Teaneck does have multiple rewards. Many of these are fiscal; others relate more directly to lifestyle.
“Seniors are increasingly aware that renting within a retirement community offers a wide range of benefits,” explains Heritage Pointe’s Director of Sales and Marketing, Kathleen Masi. “And this understanding, coupled with the reality that real estate values have depreciated in recent years, is steering more people toward financially advantageous decisions about where to reside once they retire.”
The key consideration in 2011 is that there is simply no degree of certainty that home values will increase in the near future. So, seniors who years ago based much of their financial planning on the expectation that the real estate market would grow continually, without interruption, are facing unexpected circumstances.
As renters, seniors will be spared concerns about continued stagnation – or even further erosion – of the home they invested in. And they’ll also have more direct access to their funds, as opposed to having them tied up in the value of their primary residence.
“Another point to consider is how expensive maintaining a house can be,” Masi observes. “From landscaping, to snow removal, to housekeeping, to structural repairs – there’s so much work to do. In contrast, everything is included in the monthly rent at a retirement community like Heritage Pointe, so there’s less to worry about.”
And having fewer things to worry about is an important additional consideration. Rental living provides a more carefree lifestyle – including more time for hobbies, travelling, and relaxing – which certainly carries a significant value of its own.
At Heritage Pointe, prospective residents are presented with an informational worksheet that clearly illustrates the drawbacks of homeownership, plus the multiple benefits of renting. The community also offers lease flexibility, so seniors can stay temporarily, and sample the amenities of Heritage Pointe without making a lengthy commitment.
In addition, Heritage Pointe doesn’t require a buy-in – so no significant cash outlay is necessary. As a result, residents may make changes to their lifestyles – based on altered circumstances – without penalty.
About Heritage Pointe of Teaneck
Located only 10 minutes from downtown Manhattan, in suburban Teaneck, NJ, Heritage Pointe of Teaneck – a full-service retirement community – features 140 one-, two-, and three-bedroom apartments, ranging in size from 672 square feet to 1,566 square feet. Each unit in the community – which is immediately adjacent to the wooded Teaneck Creek Conservancy – features a sophisticated security system, nine-foot ceilings, walk-in closets, wall-to-wall carpeting, and much more.
Additional information on Heritage Pointe is available at 201.836-9260, or by visiting www.heritagepointeofteaneck.com. In addition, the community is on Facebook at www.facebook.com/pages/Heritage-Pointe-of-Teaneck/152364708135039, and on Twitter at @Heritage_Pointe.
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