The Advantages of Luxury Rental Retirement Living for Older Adults

Feb 19, 2020

When you think of your retirement, where do you imagine living? If you’re like most people, you may be envisioning leisure time in your beautiful home that you own, mortgage-free. An AARP survey found that 75% of adults age 50 and older want to remain in their much-loved homes as they age, which makes sense, since “home is where the heart is.”

But according to Doris Lea, Executive Director of Hidden Springs of McKinney, renting in retirement – specifically renting in a luxury retirement community – could be the perfect solution you’ve never thought about.

“There are many benefits to owning your home outright in your retirement,” says Doris. “However, as you age, your current home may not be the best choice for your needs. And while you could always downsize and move to a smaller space that is more age-appropriate, you’d still have to manage home maintenance, lawn care and unexpected expenses. When you choose to rent in a luxury retirement community like Hidden Springs of McKinney, you truly are making an investment in your future well-being.”

Renting, says Doris, provides you a world of freedom. Renters no longer have to take care of home maintenance, have access to all the equity that they accrued in their home (which can be reinvested into the market or used to enjoy your retirement) and no longer have to pay for home insurance, property taxes and the like.

“Renting does mean that you have a monthly rent bill, but at luxury retirement communities like Hidden Springs, that’s an all-inclusive bill,” says Doris. “You won’t have to worry about paying for utilities, home upkeep, meals, or anything else except the things you want to spend money on. Many retirees find that renting actually ends up being cheaper than owning their home – and it certainly is a lot less work.”

Advantages of Rental Retirement Living

It makes estate planning easier.

On a very practical level, renting versus owning does make estate planning easier for seniors. Real estate ownership can make things complicated, and it also ties up a lot of your net worth in non-liquid assets. Selling a home can be stressful for your heirs, too. By selling your home and choosing to rent in retirement, you not only free up a large amount of cash, but you also can help avoid a headache for your children in the future.

It “upsizes” your lifestyle.

Perhaps the biggest and best reason that retirees choose to move into luxury rental retirement living is the lifestyle. Yes, most retirees end up downsizing because senior living apartments are smaller than sprawling family homes, but they end up “upsizing” their lifestyle because of all the benefits that come with living in a senior living community. No longer do you have to deal with chores like house cleaning or laundry. You never have to worry about unexpected home repairs like a broken furnace or leaky roof.

Best of all, renting offers flexibility and freedom. You get your time back to do the things you want to do – not the stuff you have to do. That gives you more time to pursue opportunities like traveling to visit friends and family, picking up a new hobby (or practicing an old one) or however else you choose to spend your time. Plus, a luxury rental community like Hidden Springs provides so many activities, events and amenities that living at home can’t touch. After all, do you have a personal chef who prepares three meals a day or an activities director who fills your calendar with fun, engaging events? What about an in-home fitness center staffed by professionals and high-quality exercise equipment? You’ll find that and more at a luxury rental community … without having to pay an extra fee.

It allows you to age in place.

As we mentioned at the beginning of this article, the idea of aging in place is incredibly attractive to most seniors. Moving when you’re older and have physical issues is very difficult, not to mention stressful and exhausting. But a luxury rental community that’s been designed to specifically meet the needs of older adults allows retirees to find a home they love that’s also safe and aging-friendly. You won’t have to worry about installing grab bars or navigating stairs – everything’s already there for you when you need it. You also don’t have to worry about shoveling snow, navigating slippery floors, or other issues that could be difficult or dangerous. A rental unit that’s already been designed for seniors can be an easier and more comfortable solution than remodeling your existing home.

It provides instant friendship and community.

Think of a luxury rental retirement community like going back to college – all of a sudden, you’re surrounded by a whole community of people of the same age who are in the same stage of life as you. They’re ready to make the most of their retirement – and they can’t wait for you to join them. At Hidden Springs, our community has many ways to nurture minds, bodies and spirits and have fun and make friends at the same time. Get in on the friendly competition of game night. Relax and unwind at a cocktail party. Sharpen your culinary skills with a cooking demonstration. Go shopping downtown. Enjoy a lunch or dinner excursion. And that’s just the beginning. At Hidden Springs of McKinney, there’s so much to do, so many people to experience it with and you’re invited to do it all!

“As you can see, renting a retirement home in a luxury rental community truly is the best of both worlds for seniors – the freedom to do what you want, and all the time in the world to do it,” says Doris. “We invite you to visit and learn about our new community in the North Dallas area to see how our luxury rental retirement lifestyle can help you create a life of well-being that you’ll love.”

For more information about our new community in North Dallas, please contact us at 972.483.0234.

Luxury Living in North Dallas

At Hidden Springs of McKinney, we understand how important location is to North Dallas seniors who are looking for an engaging, enriching retirement lifestyle. Located in McKinney, Texas, we are close to medical centers, arts and entertainment, outdoor opportunities and everything else you love about this area. Seniors who choose to make us their home can enjoy a range of trips, opportunities and activities while living their very best life thanks to our innovative focus on wellness.

Active Retirement Living for a Healthy Tomorrow

The secret to a life well lived awaits you at Hidden Springs of McKinney. Envisioned and developed by Madison Marquette, a company with a 25-year track record of investing in vibrant communities and a stellar reputation for developing luxury residences, you’ll discover all the possibilities your retirement brings … as well as the confidence of knowing your future is secure.

Our beautifully appointed, active retirement living community is created for those who expect more out of life. Luxury living, gracious services, resort-quality amenities, engaging programs and stunning apartments in 15 floor plans are just a few of the benefits awaiting you. And with assisted living and memory care services offered on campus, you can retire with complete peace of mind, knowing that if needs change, the care you deserve is right at home.

To learn more about Hidden Springs of McKinney and discover The Secret to a Life Well Lived, call or visit us today. We’d be happy to schedule a tour and show you just how much our location can make your retirement experience exceptional.

Call us today at 972.483.0234.