In true fashion, retirement homes are not assisted-living facilities, although they may have attached or associated facilities that offer higher levels of care for those who need and can pay for it. Retirement homes and villages are simply apartments, condominiums, single-family residences, or large neighborhoods for those fifty-five and over.

Some of these retirement homes and communities are very private, not necessarily community oriented, and serve to offer only a place for seniors to live away from children and families.

Sometimes in these retirement communities the homes are specifically designed to meet the needs of an older population, such as being equipped with grab bars and railings, wheelchair ramps and wider doorways, and raised toilets.

On the other hand, some of these facilities and residential areas are more community oriented and may offer centralized shuttle services to local venues such as grocery stores, pharmacies, medical centers, theaters, malls, and senior centers.

They may also offer social activities either in a community meeting room or through day field trips. They may have exercise classes, craft events, and card and board games. They often have a large recreational room for communal TV viewing, and perhaps a music room with a piano.

These are usually private residences, and the costs will vary according to the local real-estate market and rental rates. As such, usually there is no government assistance for this form of residence, and long-term-care insurance policies don't cover them either.

Continuous-Care Retirement Communities

Some retirement homes are run by various nonprofit professional or religious associations and provide continuous care from independent living to skilled nursing care under one roof, so to speak. In some instances, residents deed their own homes to the association when they move into these facilities and remain in the care of this association for the rest of their lives. Others have buy-in fees and monthly fees according to housing and levels of care provided for the duration of their lives.

Costs can range $400–$2,500 per month and have buy-in fees from $20,000 to over $400,000. The costs and monthly fees vary by location, amenities, services needed, and whether the space is owned or rented. This is a binding, lifetime contract and should be considered carefully and reviewed by an attorney or financial advisor before signing. Most of these CCRC facilities are accredited through the Commission on Accreditation of Rehabilitation Facilities (CARF). Their website is www.carf.org.