Q: What are the top three criteria for choosing a continuing care retirement community?
A: People enjoy being in a place that has an appealing location, for example on the water like BayWoods, with close proximity to a town like Annapolis. It is important to be near good medical facilities, but individuals also have to decide the importance of culture, sports teams, or maybe colleges for all that they offer in educational opportunities and theater. If it’s possible to be close to family or friends, that often determines the location.
The second thing to consider might be the size of the community, balancing serving your needs for a full continuum of on-site health care and enrichment without being overwhelmingly large. You’ll want to participate and be active, accessing services easily. Think of a close-knit neighborhood, with the bonus of a high staff-to-resident ratio. With 147 large independent living apartments and less than 200 residents, BayWoods of Annapolis feels warm and neighborly.
Third, you will want a good return on your investment. Find out if the community has a good reputation for its own financial management.
Every community offers tours, and most will invite guests to stay for a meal. Take them up on that offer and talk to residents, who should be happy to answer questions.
Q: What are the advantages of a co-op living?
A: Every decision that is made at BayWoods has the residents’ best interests at heart, because the residents are shareholders who own the community. They receive all the benefits of home ownership plus tax advantages and property appreciation. BayWoods is one of only two continuing care retirement community co-ops in Maryland.