What do you picture your retirement home to look like? You probably envision idyllic centers and apartment-style living with daily meals and signing up for events and classes. Did you know that retirement can also mean luxury? Imagine tropical living, butlers on call, specialized classes, and personal chefs as you kick your feet back and enjoy your decades of hard work. 

Enter luxury retirement homes.

Retiring In Style

The average American is expected to live for 20 more years in retirement, spending about USD$50,000-58,000 every year. This calls for a well-thought-out retirement plan. However, more and more retirees are seeking elevated and luxurious retirement options, ranging from waterfront properties to beachfront villas and upscale condominiums with five-star amenities.  

What senior living benefits can you expect from a luxury retirement home, and how much will it cost you? Here are three things you should know.  

1. Cost

Luxury retirement homes come with a steeper price tag than most. Depending on the state, prices can start at USD$6000 monthly and quickly climb to five or six digits, depending on your desired lifestyle. 

Certain communities have a hefty six-digit entrance fee to their property, with the option for heirs to inherit any unused funds should the retiree pass away. Some properties thoroughly screen their applicant's asset reports as they only accept those who have millions of personal wealth. 

Before settling for a luxury home, ask what happens if you run out of assets and what other options are available. This way, you can set your finances and have enough funds to cover your retirement years in luxury living.

2. Types Of Luxury Retirement Accommodation

There are three major types of luxury retirement arrangements. Consider your retirement plan and the lifestyle you desire and choose among the following:

• Independent Living

Finally free from the daily hustle, retirees can enjoy a vacation all year round in their chosen location in an independent living setup. Healthy, able-bodied retirees, often with extensive travel plans, decide to purchase a retirement home for themselves. Others sign up for years-long cruises and tours, escaping to tropical locations during winter. This setup is perfect for adventurous retirees who are looking for a fun-filled retirement.

• Community Living

Retirees can move into a luxury retirement community of fellow retirees. There are communities with an energetic and busy atmosphere, and there are those that are more laid back and relaxed. Depending on your preference, you'll surely find a community that best suits the vibe you are looking for. 

These luxury communities often enjoy the following amenities:

• Sporting facilities: Some facilities have golf courses, tennis and badminton courts, and basketball for their residents, and instructors on staff for retirees who want to pick up a new sport

• Fine dining and gourmet kitchens

• Swimming Pools and, in some places, beaches

• Housekeeping and butler services

• Gyms and fitness classes like pilates, yoga, and more

• Salons and wellness centers like spas

Residents have everything within reach in these luxury communities. This will suit retirees in good health who do not require regular medical assistance.

• Nursing and Memory Care

Seniors with dementia, Alzheimer's, and other health issues can enjoy 24/7 care in a luxury retirement community. These centers are specially designed to boost their comfort and well-being during their stay. Luxury nursing homes have medical staff and caregivers round the clock to administer medication and care to their residents. These properties are often found in beautiful estates, as seniors respond well to nature. 

Although you can expect steeper prices if you need more hands-on care, this is still a worthwhile investment for many families knowing their loved one is receiving top-quality care.

3. Your Deciding Factors

Before signing the dotted line, you must ask questions to ensure you get the most out of your hard-earned money.

• Does the facility offer a full spectrum of services? If they do, you won't have to switch facilities in the years to come, especially when your medical needs change. 

• Is the facility fully staffed 24/7? Do they have round-the-clock medical staff? 

• Are there modes of transportation available to residents should the need arises? 

• What are the policies surrounding family and visitation? 

• What happens to your investment if you pass away? 

• What are the available dining options?  

• What activities are offered seasonally, and which ones are offered year-round? 

• For retirees with beloved pets-are pets allowed in the community? Are there veterinary and grooming services, and if not, what are the accommodations for them?

Some retirement communities have trial periods where retirees can get a feel for the place and decide if it's the right fit for them. You can also avail of this arrangement before fully committing to one place.

Living Your Retirement Years To The Fullest

Are luxury retirement homes worth the investment? To many, the answer is yes. 

Your retirement doesn't have to be your quiet sunset years-it could be the start of living life to the fullest. Invest your hard-earned money in yourself and shoot for luxury retirement homes. Pick one that suits your personality and goals, and cruise through your retirement with the utmost comfort and top-quality amenities.