I have advised clients on countless aspects of retirement planning, from portfolio allocation to estate planning. Yet, I often find the most emotionally charged and financially significant decision revolves around a tangible asset: the home. For those considering a Continuing Care Retirement Community (CCRC) like Blakehurst, the choice of a floor plan is far more than a matter of square footage or aesthetic preference. It is a complex calculation that intertwines finances, lifestyle, and long-term well-being. While I cannot provide specific, proprietary floor plans for Blakehurst, I can offer a strategic framework for evaluating them. This analysis will equip you with the right questions to ask and the critical factors to weigh, ensuring your choice supports your financial security and personal happiness for decades to come.
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Beyond the Blueprint: Understanding the CCRC Financial Model
Before you even look at a floor plan, you must understand the financial structure you are buying into. Blakehurst, like most CCRCs, operates on an entrance fee model. This is not a simple real estate purchase; it is a pre-paid package that includes your residence, amenities, and a continuum of healthcare services.
Your choice of floor plan directly dictates the size of this entrance fee and your ongoing monthly fees. A larger, more luxurious apartment will command a significantly higher entrance fee, which can range from the mid-six figures to over a million dollars, and a correspondingly higher monthly fee. This decision has immediate and lasting consequences for your liquidity and overall financial plan.
A Framework for Evaluating Any Retirement Community Floor Plan
When reviewing options, assess them through these four distinct lenses:
1. The Financial Lens: Calculating the True Cost
Your analysis must go beyond the sticker price. For each floor plan you consider, model the financial impact.
- Entrance Fee Scenarios: Understand the contract types. Is it a largely refundable fee (which preserves principal for your estate but has a higher upfront cost) or a non-refundable/partially refundable fee (which has a lower entry point but reduces your legacy)? Calculate the opportunity cost of that capital. If you pay a $800,000 refundable fee, that is $800,000 not invested in your portfolio. What potential investment income are you forgoing?
- Monthly Fee Projection: Get a detailed breakdown of what the monthly fee covers (property taxes, maintenance, utilities, meals, amenities). Then, project these fees 10, 20, even 30 years into the future. CCRCs historically increase monthly fees at a rate slightly above general inflation. A monthly fee of $4,000 today could easily be $6,000 in a decade. Ensure your retirement income plan, including Social Security, pension, and investment withdrawals, can sustain this escalating cost.
- The “What-If” Healthcare Premium: While healthcare is included, understand if moving to a higher level of care (e.g., assisted living, nursing) within the community triggers a separate, additional monthly cost. Factor this potential expense into your long-term care planning.
2. The Lifestyle Lens: How Will You Live Every Day?
A floor plan is a diagram of your future daily life. Scrutinize it for how it will function for you.
- Space for Socializing vs. Privacy: Do you love to host family for holidays or have friends over for dinner? Ensure the layout has a clear living and dining area that can accommodate this. Conversely, if you value quiet and solitude, look for a layout that allows for a private den or reading nook separate from the main living space.
- The Kitchen Question: How important is cooking to you? Some plans feature full kitchens, while others have smaller kitchenettes, reflecting an expectation that you will take most meals in the community dining room. This isn’t just about space; it’s about your lifestyle and independence.
- Single-Level Living: This is non-negotiable. Ensure all essential living spaces—bedroom, bathroom, kitchen, living area—are on one level to avoid stair-related fall risks now and in the future.
- Outdoor Access: A private patio, balcony, or terrace is not a luxury; it is a critical quality-of-life feature. Access to fresh air and private outdoor space has immense psychological and physical benefits.
3. The Practicality Lens: Planning for the Inevitable
You are not just choosing a home for today; you are choosing one for your 80-year-old or 90-year-old self. The floor plan must be adaptable.
- Accessibility and Universal Design: Look for features that support aging in place. Are doorways wide enough (at least 36 inches) to accommodate a walker or wheelchair? Is there a step-free shower entry in the bathroom? Are the faucets lever-style instead of knobs? Is there structural backing in the bathroom walls for future grab bar installation? These details are far more important than the finish on the cabinets.
- Storage Solutions: Downsizing is a challenge. Evaluate the storage space critically. Is there ample, easily accessible closet space? Is there a storage locker in the building for seasonal items? A lack of storage can create daily frustration.
- Flow and Circulation: Can you move easily from room to room without obstacles? Is there a clear path that would allow for mobility aids later? Cluttered or narrow pathways are a hazard.
4. The Resale Lens: Understanding Your Future Exit
Your entrance fee agreement will detail the process for reselling your unit (often called “re-marketing”) when you leave or pass away. The floor plan you choose impacts this process.
- High-Demand Units: Certain floor plans are more universally desirable—typically those with two bedrooms, two bathrooms, and sought-after features like a good view or a prime location within the community. These units may resell more quickly than a large, expensive one-bedroom or a smaller studio.
- The Re-Marketing Clause: Understand the fine print. How does the community prioritize selling your unit versus a new one? What percentage of the resale price do you (or your estate) receive? Choosing a highly desirable floor plan is a form of risk mitigation, ensuring your capital is returned to your estate in a timely manner.
The Strategic Choice: Aligning Your Home with Your Plan
The decision between a one-bedroom plus den and a two-bedroom apartment is not just about needing a guest room. It is a financial strategy.
A smaller, less expensive unit preserves more of your capital for your investment portfolio, which can generate income to cover your monthly fees and provide a legacy. A larger, more expensive unit provides more comfort and space but locks away a significant chunk of your wealth in an illiquid asset.
My advice is to be ruthlessly pragmatic. Choose the smallest, most efficient floor plan that comfortably meets your needs. The true value of a CCRC like Blakehurst lies in the community, amenities, and healthcare services—not in the square footage of your apartment. You are investing in a lifestyle and a safety net, not just a home.
In conclusion, evaluating a Blakehurst floor plan requires a multi-disciplinary approach. It is a decision that sits at the intersection of financial planning, gerontology, and personal taste. By moving beyond the allure of granite countertops and focusing instead on financial sustainability, practical accessibility, and long-term demand, you can make a choice that provides not just a beautiful view, but lasting security and peace of mind. Your home should be your sanctuary, not a financial burden.
