You’ve likely heard the saying that it’s never too early to begin planning for your retirement again and again throughout your adult life. That wisdom is usually meant in a financial context, but it’s also good advice for mapping out your retirement lifestyle.
Senior living options are plentiful, but they’re also in high demand. Giving yourself ample time to find and secure your spot in a community that matches your vision is an important step toward achieving your retirement goals. In fact, planning ahead for senior living means you can entertain adding your name to a senior living wait list and reaping all of the benefits while you look forward to embracing a new stage of life.
It may seem contradictory to hurry up and plan only to have to wait before you can move in, but once you understand more about wait lists and how they can work in your favor, you may find it’s the perfect first step toward your retirement.
How Wait Lists Work
The first thing to understand is that joining a senior living wait list is not the same as committing to an immediate move. Rather, it tells the community that you’re seriously interested in becoming a resident, and you have some specific wants and needs that you think the community can provide.
As you begin exploring senior living communities in your area, you may encounter two different types of wait lists. One is for a community that is already established and has greater demand than space available. Going on a wait list puts you ahead of the general public when a vacated residence becomes available. The other is for a community that is still under construction, so the wait list is for seniors who wish to become the founding residents.
Residency Wait List
For a community that is at capacity, your wait can be somewhat unpredictable because you’re waiting for other residents. However, some communities allow you to begin taking advantage of select resident benefits right away, such as the chance to participate in social events and begin making friends with your future neighbors.
In this scenario, you put down a deposit, similar to the earnest deposit you might submit with an offer to buy a home. Once you’re on the list, you’ll be notified when a residence that matches your needs is available. Often, you’ll have the option to pass but remain on the list if the unit isn’t exactly what you want (for example, you prefer to wait for the same floor plan in a different location). Ask us about our “Ready to Thrive” waitlist.
Construction Wait List
When construction is involved, there are some notable differences in how senior living wait lists work. Often, the wait lists (sometimes called priority programs) for a new community or neighborhood involve significant perks, from financial incentives and first choice on location to the ability to select finishes within the apartment.
In communities like Presbyterian Village North, it’s very common for the community to begin hosting social events that allow neighbors on the senior living priority list to get acquainted with one another before moving in.
How Wait Lists Put You in Control
At its core, a wait list gives you access to a future living space, but it can also be a smart planning tool for people who may not be ready to move today but want more immediate access to lifestyle opportunities. At the same time, it gives future residents more time, flexibility and choice as they plan for the next chapter.
Joining a wait list puts you in charge of your future by allowing you to:
Avoid the rush. Joining a wait list means you can stay informed about a developing community, understand your options and make decisions without the pressure of a deadline.
Be specific about what you want. Once you have your heart set on a specific community or floor plan, a wait list gives you the chance to secure the exact retirement apartment of your dreams.
Get proactive about your future. Planning ahead gives you flexibility and the ability to explore options and opportunities fully. It’s also a productive way to pass the time until you can celebrate your retirement in all its glory.
Is a Wait List Right for You?
It’s true that a wait list might not be the right fit for everyone, depending on your unique circumstances and needs. Generally speaking, joining a wait list in a senior living community could be a smart choice if you:
Have a flexible timeline and don’t need to move right away. The duration of a wait list depends on many factors, so you’ll want to understand a realistic timeframe, whether it’s based on construction, current occupancy or other variables.
Know that you’ve found the place you want to spend your retirement. Once you find the right place, you know. The space may not be ready right now, but a wait list ensures that you’ll get to retire exactly where you want to.
Appreciate the idea of having a firm plan in place for your future. It doesn’t have to be a right-now plan, and you don’t have to know exactly what the future holds. But there’s peace of mind that comes with having a solid idea of where and how you’ll be taken care of in your golden years.
Want to begin immersing yourself in the community and lifestyle right away. As a depositor, you truly are part of the community, even if you don’t live there yet. Taking advantage of the amenities and beginning to build your social circle sooner rather than later will have your new neighborhood feeling like home before you ever move.
Could use the extra time to begin downsizing. Taking your time to transition to a new lifestyle comes with some definite blessings. Less stress, more time to be intentional as you sort belongings and plenty of opportunity to think about how you’ll make your new living space your own.
Have the resources to make an immediate deposit. In many cases, your deposit is refundable if your plans change and you don’t end up moving into the community. That said, it’s important to understand restrictions on the refund policy, and you need to be comfortable parting with those funds in the meantime.
The Landmark Is Waiting for You
A new 216,000-square-foot luxury Independent Living neighborhood is giving seniors in north Dallas the opportunity to become part of the Presbyterian Village North family. Coming in early 2029, The Landmark at PVN will feature 81 new residences with contemporary design and modern finishes, all in an enviable central location. Let us know you’re interested and we’ll share details about our priority program for founding residents.
Independent Living at Presbyterian Village North
We offer a unique blend of comfort, convenience and peace of mind with our non-profit senior living community set on 66 acres of beautifully landscaped grounds. Whether you prefer a spacious apartment or a freestanding home, the variety of beautiful residences ensures you’ll find the perfect space to call your own.
With chef-prepared dining and a wide range of amenities, including a fitness center, therapeutic aquatic center and walking paths, every day offers opportunities to stay active and engaged. Residents enjoy a vibrant, welcoming community, open to all faiths, with endless opportunities for connection and personal growth.
From our on-campus pharmacy services to a resident clinic, professional security 24/7and a wireless emergency call system in every residence, your well-being is always a top priority. With exceptional amenities like a performing arts theater, woodworking shop, dog park, putting green and salon services, every detail is designed to enrich your life.
For more information about how Presbyterian Village North can help you or your loved one thrive in retirement, please reach out by calling (214) 355-9000 to request a personal tour or more details today.