MillCreek Terrace Condos
A few days ago, this topic "wacked" me over the head when I was called by an elderly couple that had looked to purchase one of my earlier, adult oriented gated communities in Holladay, Utah. But they could not pull the trigger. Now, she broke her hip in April and their children are insisting on them moving into a facility that will keep them safe, doesn't have stairs, no snow to shovel and they can still have their independence.
While recovering from her surgery, she was in an assisted living (AL) facility and enjoyed it, but after getting healthy, she did not like being restricted. She also did not like the high cost of all of the services that she did not need as well as giving up the security of having her own, fully paid for home and now having to pay rent.
I picked this couple up from there home, brought them down to my latest condominium project; MillCreek Terrace (MTC), located at 3944 So. 900 East, Salt Lake City, Utah and they absolutely fell in love with the building and the condos. They now want to buy one of the 1550 penthouses and can't believe how reasonable the prices are. They can sell their current home, move into MTC and have $40,000 in their bank account.
There are many elderly couples or singles that are in this same predicament. With 20% of the population of the United States, approaching the age of 70, within 10 years, this predicament becomes more pervasive. Many like the idea of an AL facility but there are many things that they do not want to give up or that they do not need and don't want to pay for.
The Pros and Cons of Ass't Living verse the Alternative - MillCreek Terrace Condos:
* AL is usually quite expensive, especially in the newer and more upscale facilities, such as Sunrise Assisted Living on Highland Dr., 4625 So. or the Ranches on 5600 So., 9th E. or many other AL facilities in the Salt Lake Valley. Prices as high as $4000 to $5000 per month and climbing.
* AL is non-owner occupied/ no equity / a tenant only situation - many times the person put in this situation does not want to give up the ownership of their home or Condo.
* AL usually requires the resident do accept a complete menu of services: Food, Laundry, Housekeeping, Nurses, etc.
* Many active seniors feel that living in an assisted living is too restrictive, they still want the freedom of moving around, going out to dinner, taking a drive in the car, having a larger place to enjoy visitors and not having other residences in "their space".
MillCreek Terrace VS. Assisted Living
* MTC has all the features and amenities that give it the accessibility (for the physically impaired seniors) and the security of an AL facility. MTC is full ADA (American's with Disabilities Act) compliant.
* Residents at MTC can chose from a menu of services: Nursing care, Food service, Housekeeping and Laundry. Paying only for those services needed at competitive rates.
* MTC is the finest, the most luxurious building in the Salt Lake Valley with a beautiful heated garage, being close by the elevator - servicing each individual condo. Beautiful hallways and lobbies. Patios for special family occasions or anytime events. Those amenities are private or can be used in conjunction with other residences.
* The population at MTC is mainly age 60 and above and come from very affluent backgrounds.
* Condos at MTC are extremely affordable, ranging from only $219,900 for double Master suite units, upto $599,900 for the largest Penthouse, fully furnished and ready to move in.
Many of these elderly clients need extra attention. All the way through the transaction;
These are some questions that I ask every elderly client that comes through MTC:
* Have you considered Assisted Living?
* Did you know that we can contract for all Assisted Living services, right here in MTC? You will still own, be independent, pay for the services you use and not for the ones you don't use and don't need. It will cost you much less in the long run.
Photo:
http://www.prlog.org/
