Sticker Shock at Traditional Senior Living Costs? Learn Why We Created Communities for the Middle Market
Sticker Shock at Senior Living Costs? Learn Why We Created Communities for the Middle Class
Looking ahead to retirement can be equal parts exhilarating and alarming, especially if you’re looking at communities nearby and feeling overwhelmed by the cost of senior living. Why is senior living so expensive?!
When you begin exploring options for your retirement, it’s easy to become enamored with the luxurious retirement communities that offer amenities galore and an idyllic lifestyle for your golden years. That is, until you look at the price tag and realize those places are far beyond your reach.
You’re not alone. By 2029, 54% of older adults nationwide will be “in the middle,” meaning they’ll be unable to afford housing and care in a community setting.
At Opus, we believe a large segment of older adults has been failed by the market. Senior living shouldn’t be reserved for those on the far ends of the financial spectrum, who can either afford the big price tags of many upscale communities or who qualify for the least expensive senior living options. Not everyone’s bank accounts look the same, and not everyone wants or needs Medicare.
How Opus Fills the Gap
We’re rethinking senior living by designing retirement communities for those with moderate wealth — the middle class. Opus Newton is an affordable retirement community in the greater Boston area that is now in planning stages. The community is being created for those who don’t qualify for subsidized living but also aren’t attracted to the more opulent communities. We’re proving that finding a retirement community you can afford, one that delivers the lifestyle you want, shouldn’t mean leaving Boston in favor of other more affordable places to retire.
At Opus, we’re meeting the needs of those “in the middle” with a senior living experience that’s as affordable as it is desirable. We’re planning all the details for a vibrant, active community with nearby access to fitness, wellness, learning and culture activities — in other words, ensuring these features are accessible, but not on-site, so you aren’t absorbing their cost.
Other highlights include:
- Comfortable apartments with attractive finishes
- Resident programs, including classrooms for art studios and lifelong learning
- Needs-based care delivered in each private apartment home
- Flexible, creative culinary programs
Pricing at Opus
At the heart of Opus is a pricing structure meant to be within reach for more older adults. As a not-for-profit community, we make affordable senior living costs our priority, not driving up prices to benefit owners or investors.
Our partially refundable Community Share is similar to what many communities call an entrance fee. This is an upfront amount you could pay using proceeds from the sale of your home. You’ll also pay an affordable recurring monthly fee. In exchange, you receive a life-lease for your apartment, and when you leave, your Community Share will be partially refundable to you or your estate. If you need assistance covering home care as you age, you can draw against the refundable portion of your Community Share.
Another unique aspect of Opus is the expectation that each resident will contribute to the greater good of the community as a volunteer, lending about 10 hours each month to making the community a more enriching, rewarding place to live — a masterpiece or, in musical terms, an opus.
Relying on those who live within the community to help make it thrive is an affordable and sustainable approach. It also helps fulfill older adults’ desire to be connected and to have a purpose. The options for volunteer contributions are plentiful and have been designed to align with passions and opportunities to learn. Examples include teaching classes, supporting events, assisting in the café, organizing a program, and helping a fellow resident, to name a few.
More details about the specific senior living costs at Opus will be available soon.
See How Opus Appeals to You
Retirement community living looks different when it’s designed for the middle class. Opus Newton is a first-of-its-kind community where affordability, equity, sustainability and adaptability are the standard, and the inclusive environment celebrates each individual. Contact us for more information.