Deciding Whether Life Lease Is For You: Three Stories

United’s Life Lease program has raised the bar in the world of  life leases by implementing several new practices that are unique in older adult communities. Read more on our main life lease page.

Mary’s story

Mary is 80 and in good health aside from a little arthritis in her knee. She is widowed and enjoys her four grandchildren, walking, reading and music.

She is a retired nurse with pension and investments of $3,600 a month and a home valued at $475,000.

She has been living in her current home for over 40 years and has kept it well maintained. While she still enjoys her home and its memories, it is becoming harder to keep it up and she fears more extensive repairs in the future. Home and living expenses are close to $1,700 a month not counting food and entertainment.

FCN bedroom 3 OP smallShe decides to purchase a 737 sq. ft. one-bedroom suite in our Fish Creek community. The Entrance Fee is less than the value of her home, which leaves her with a substantial amount for future vacations and other personal expenses. The monthly fees are also lower than her monthly pension and investment income.

She feels relieved that many financial uncertainties have been eliminated. She has the opportunity to be part of a community, meet new friends, learn new things and have the time to spend on improving her photography. Should she sell her car, the location has easy access to LRT and there is community transportation to access for outings and shopping.

Her nursing experience has taught her that the unexpected can happen. She feels comfort in knowing if she ever needs help, it will be there. Being able to use the Remittance Amount of her Entrance Fee to cover additional costs ensures that she can relax into her later years.

Life lease could be just the thing you are looking for. Contact us for more information.

 

Residents around table small OPFrank and Dorothy’s story

Frank, 86, enjoyed a long career as a high school teacher and still enjoys the role of mentoring young people. Dorothy, 89, stayed at home to raise their family of two sons and later spent several years as a realtor. Frank has a pension from the school board and Dorothy has investment income.

Together, they have pension and investments of $6,500 a month and a home valued at $675,000.

Frank is eager to continue his walking and exercise routine while Dorothy is more interested in reading. They both enjoy going out to eat and to the movies. They spend a lot of time with their sons, daughters-in-law and three grandsons. They are a close family who enjoy each other’s company.

Life has pretty well played its way on a consistent course until one of their friends decided to sell their home and move into United’s Fish Creek community. Seeing the amenities, large suites and expanded opportunities to develop new interests has caused them to re-evaluate how they want to live their remaining years. The community encourages involvement by families and the possibilities of the art studio programs were a draw for Dorothy. She was particularly intrigued with the writers-in-residence program, which spoke to her secret desire to write down family stories. Frank was drawn to the courses on birding offered by professionals.

They realized that their world could expand and also provide opportunities to include their family.

GG-private-dining-room-OPWhile they both enjoy cooking, the ability to “eat out” in the dining room or bistro and host their family was a definite appeal.

They chose a beautiful 1,110 sq. ft. one-bedroom deluxe which offered a view of the beautiful courtyard. Its location on the main floor provides a lovely patio and direct access onto the putting green.  The Entrance Fee leaves them with a large nest egg – just in case. The monthly Lifestyle Fee fits easily within their retirement income and is comparable to what they were paying for the cost of keeping up their 100-year-old home and entertainment.

Although their health is good, they both fear loss of lifestyle should one or both require assistance.   They have seen other friends lose their opportunity to make choices with sudden failing health. Being proactive places them in an advantageous position to maximize their lifestyle and reduce placing the family in the position of having to make decisions for them.

We can help answer your questions about life lease. Contact us for more information.

John and Eileen’s story

Residents on park pathLife has been good for John, 83 and his wife Eileen, 79. They have both enjoyed full academic careers in their chosen fields and have had the opportunity to travel extensively in the years since retirement.

They are both retired University professors with pension and investments of $12,000 a month and a home valued at $950,000.

Travel is losing its appeal although they want to continue enjoying their Radium cottage with their family and grandchildren.

Both are in good health although John has been noticing some change in eyesight and fears potential loss of his driver’s licence.

They have been in their current home – a condo – for 20 years. While it suited their travel lifestyle, they find that they do not have many neighbours who share their interests and the majority are still working full-time jobs and are not at home.

John and Eileen have been married for over 50 years and it is important to them that they are able to continue living together – even if faced with some health challenges. Being established in a community is very important as they want the comfort of knowing that whoever may die first, the remaining spouse will be living in a supportive community.

Fish Creek West kitchen and dining areasAfter much research and consultation with the family, they decided to purchase a large two-bedroom suite with mountain views in United’s Fish Creek community. They love the open concept, high ceilings, air conditioning, and large windows. The Entrance Fee is easily covered with the sale of their condo leaving a large nest egg – part of which will go to improvements at the Radium cabin.

Their condo fees and taxes were $2,400 a month and roughly another $1,500 a month was being spent on attending concerts, taking courses and entertainment. Their new monthly Lifestyle Fees include increased opportunities for lifelong learning and attending in-house concerts. This latter is particularly important as John fears that his failing eyesight may start to restrict his movements. There are sufficient surplus funds from their monthly income to invest in an education fund for their grandchildren.

Why wait? Call today to arrange a tour!

Imagine! Flex your creative side. Fine dining. New friends. Luxurious suites. Live the lifestyle you deserve at one of our United Active Living communities. Click the button on the right to arrange a tour at Garrison Green or Fish Creek