HOW MUCH SPACE DO I NEED WHEN I MOVE INTO A RETIREMENT COMMUNITY?

As we get older, life naturally starts to feel a bit different. What once felt like the perfect family home can start to feel like a LOT of work. Cleaning empty bedrooms, climbing stairs, keeping up the yardsometimes it all adds up to more stress than comfort.If youve been thinking, Do I really need all this space?youre not alone. More and more older adults across the country, including here in the DallasFort Worth (DFW) area, are choosing to downsize (or as we like to say, rightsize) to something that better fits their current lifestyle. In fact, a 2024 report by the North Texas Real Estate Information Systems (NTREIS) showed that DFW homeowners aged 60+ accounted for nearly 1 in 4 home sales, many of whom were selling larger homes to move into smaller, more manageable properties or senior living communities. Whether it's relocating to a smaller home, a condo, or a retirement community, the decision can lead to less upkeep, more freedom, and a boost to your financesespecially in todays housing market. But with interest rates, housing prices, and inflation all playing a part, how do you know whats right for you?Lets break it down.Whats Happening with Interest Rates in 2025?As of April 2025, interest rates are still relatively high, with the average 30-year mortgage hovering around 6.7%7%. That might seem like a reason to waitbut for seniors who are selling a large, mortgage-free home, downsizing still makes strong financial sense.Why? Because many retirees are cash buyersmeaning you may not need a mortgage at all when purchasing a smaller home, condo, or moving into a retirement community.You can sell your current home (often at a high price, since real estate values have remained strong in many parts of the country) and use the equity to pay outright for a smaller propertyor invest it for future needs.Whats the Smarter Move: Smaller Home or Retirement Community?Before you start packing boxes or browsing condo listings, take a moment to reflect. Ask yourself: Do I want to cut monthly costs and free up some equity? Do I crave more social opportunities, built-in amenities, and less responsibility when it comes to maintaining a home?If you're nodding yes, downsizing may be the right next step. But the type of move depends on your lifestyle: A smaller home or condo may be perfect if you still want independence, privacy, and flexibility. A senior or retirement community is ideal if you value connection, convenience, and amenities like fitness classes, dining services, and on-site healthcare. Lets Talk Numbers: Is Downsizing Worth It?Heres a snapshot of the financial perks of downsizing in todays market:Lower Monthly Costs Housing payments: Based on a 2024 study from StorageCafe.com, downsizing from a 4-bedroom to a 2-bedroom home can save up to $200,000$500,000 depending on your location. Utilities: Smaller spaces mean lower bills. According to a survey conducted by Texas-based pre-paid electric company, Payless Power, nearly 20% of Americans downsize to cut energy costs. Property taxes & insurance: Historically, both of these usually decrease with a smaller, lower-valued home. Unlocking Equity Selling your current home can free up hundreds of thousands of dollars in equity. That money can be used to: Invest in income-generating accounts or annuities Pay for healthcare, travel, or family support Cover future long-term care or in-home support services Lower Maintenance = Less Stress Repairs, yard work, and home maintenance costs all shrink with smaller properties or move-in-ready communities. If you move into a retirement community, things like snow shoveling, lawn care, and even housekeeping may be included. But What About the Costs of Moving?Its a great question. Moving can come with its own expensesbut many of those are one-time costs, and theyre often far outweighed by long-term savings and improved quality of life.Partnering with a senior relocation company like WellRive takes the stress out of downsizing by handling every detaildecluttering, packing, staging, coordinating the home sale, and getting you comfortably settled into your new space. Having dedicated, experienced support during a major life transition isnt just helpfulits truly invaluable.Lets Make This Your Best Move YetDownsizing isnt about giving upits about gaining more. More time, more freedom, and more peace of mind when it comes to your finances. Whether you're exploring smaller homes or considering a senior community, were here to support you. Contact WellRive today at 469-526-4201 and discover how downsizing can open up a wealth of possibilities!

In the U.S., Continuing Care Retirement Community (CCRC) fees are generally not fully tax-deductible. However, some portions of the fees might be, depending on how they are structured.Heres how it typically breaks down:1. Monthly Maintenance Fees:These fees usually cover services such as meals, housekeeping, maintenance, and security. These are typically not deductible as medical expenses.2. Medical or Health-Related Fees:If part of your CCRC fees goes toward medical care (for example, nursing care or rehabilitation services), that portion may be deductible as a medical expense. The IRS allows you to deduct medical expenses that exceed 7.5% of your adjusted gross income (AGI), but you need to keep detailed records to substantiate the medical portion of the fees.3. Entrance Fees:The upfront, lump-sum entrance fee or buy-in that you pay when you move into a CCRC is typically not deductible. However, if any part of the entrance fee is allocated for healthcare services, that part could potentially be deductible if it meets the criteria for medical expenses.4. Long-Term Care Insurance Premiums:If you are paying for long-term care insurance as part of your CCRC arrangement, those premiums may be deductible as a medical expense, depending on your age and the IRS guidelines for that year.To determine what part of the fees, if any, might be deductible, its a good idea to:Keep records of your payments and the breakdown of what they cover.Consult a tax professional who can guide you based on your specific situation and any changes to tax laws.Tax laws can vary, so its always best to get tailored advice.

Discover Secure and Affordable Independent Living with ONA SolutionsAt ONA Solutions, we believe that everyone deserves a safe, comfortable, and supportive home while maintaining their independence. Our Independent Living Facility (ILF) is designed for adults who can manage their daily routines but appreciate the security and convenience of a well-maintained community.Why Choose ONA Solutions?We provide an affordable, stress-free living environment where residents can focus on what truly mattersbuilding connections, pursuing their passions, and enjoying life. Our residents benefit from: All-Inclusive Utilities  Electricity, water, and cable are covered in your monthly rent. Free Wi-Fi Access  Stay connected with loved ones and online resources. A Supportive Community  A welcoming and secure space designed for independent adults.At ONA Solutions, we take care of the essentials so you can enjoy worry-free living.Who We ServeOur housing is perfect for: Female adults receiving SSI or SSDI Private-pay residents Women supported by community-funded programsWe understand that everyones circumstances are unique, and our goal is to provide a secure, welcoming, and affordable home where our residents can thrive.A Commitment to Independent LivingOur mission is to empower adults to live independently with confidence. Whether you're transitioning to a new stage in life or looking for a stable, affordable home, ONA Solutions offers a place where you can feel safe, valued, and supported.Schedule a Tour Today!Experience our community firsthandschedule a tour and see what makes ONA Solutions the perfect place to call home.Partner With UsAre you a case manager, agency, or organization looking for reliable housing options for your clients? We welcome partnerships that align with our mission of providing secure and affordable independent living.Get in Touch (239) 688-4815 | 9 AM 3 PM (239) 785-3315 | 3 PM 5 PM info@onasolutionsllc.comAt ONA Solutions, were committed to helping individuals find a home where they can truly live with confidence and independence. Lets build a future of independent living together!