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#1 |
Senior Member
Join Date: Aug 2013
Location: Bedford, NH; Meredith, NH
Posts: 952
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Ah, Ok. Understand. I wasn't thinking it was a nursing home, which is very different than Assisted Living. In my in-laws Assisted Living place, they have an apartment, but go to the dining room for all their meals and the staff gives them their medications and there is a pub and regular entertainment. There is no ownership/equity, however...just straight rental payments. I was not aware that there were places where residents could have an equity participation.
I learned something new today. Thanks! |
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#2 | |
Senior Member
Join Date: Nov 2016
Location: Waltham Ma./Meredith NH
Posts: 4,133
Thanks: 2,232
Thanked 1,193 Times in 759 Posts
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I know this is off topic, but this is what many elderly owners face when taxes go beyond what is affordable to them even though they own the property out right and waterfront is not a priority any longer. |
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#3 | |
Senior Member
Join Date: Jun 2016
Location: Tuftonboro and Sudbury, MA
Posts: 2,390
Thanks: 1,289
Thanked 1,020 Times in 630 Posts
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Brooksby is a very nice place for folks no longer able to maintain a house, and as noted above, they have various levels of nursing care available. Plus good food and social stuff--it's kind of like a college dorm for old people |
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#4 | |
Senior Member
Join Date: Feb 2005
Location: Gilford, NH and Florida
Posts: 3,009
Thanks: 699
Thanked 2,203 Times in 937 Posts
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https://www.ericksonseniorliving.com...llage/about-us |
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#5 | |
Senior Member
Join Date: Nov 2016
Location: Waltham Ma./Meredith NH
Posts: 4,133
Thanks: 2,232
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At some point the waterfront becomes a burden more than a place of peace and serenity. But others in my neighborhood have cashed out because the cost of keeping their homes has exceeded their income level and the value to sell high was too tempting. Everyone has their own crosses to bare. Last edited by Biggd; 12-19-2024 at 07:41 PM. |
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The Following 2 Users Say Thank You to Biggd For This Useful Post: | ||
FlyingScot (12-19-2024), secondcurve (12-24-2024) |
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#6 | |
Senior Member
Join Date: Jan 2005
Posts: 2,117
Thanks: 1,329
Thanked 559 Times in 288 Posts
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#7 | |
Senior Member
Join Date: Jun 2016
Location: Tuftonboro and Sudbury, MA
Posts: 2,390
Thanks: 1,289
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Nevertheless, I would still recommend Brooksby unreservedly to any whose life-stage/financial situation fits |
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The Following User Says Thank You to FlyingScot For This Useful Post: | ||
DotRat (12-26-2024) |
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#8 | |
Senior Member
Join Date: Jan 2005
Posts: 2,117
Thanks: 1,329
Thanked 559 Times in 288 Posts
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for the soon to be resident and few think to ask about the credit of Brooksby. As a result, I wanted to share what I have learned about the industry. |
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The Following User Says Thank You to secondcurve For This Useful Post: | ||
FlyingScot (12-25-2024) |
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#9 |
Member
Join Date: Feb 2008
Location: Metro Boston
Posts: 29
Thanks: 0
Thanked 7 Times in 5 Posts
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Sanbornton waterfront. Tax assessment went up 112%, just over $2M now. Taxes went from $20K to $26K a year. Filed an abatement with solid basis of six larger properties and more frontage, denied!
We have 3 seasonal camps with an apartment over a garage on 2 acres with 175' of frontage all built between 1950 and 1974. Their basis is market value. All dwellings are grandfathered so we can tear down and rebuild with year-round homes or sell the property with the same intent, so getting taxed on what we could do! |
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#10 | |
Senior Member
Join Date: Nov 2016
Location: Waltham Ma./Meredith NH
Posts: 4,133
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When we were looking to buy, Laconia and Sanbornton were out of the question because of the high taxes. Last edited by Biggd; 12-26-2024 at 08:50 AM. |
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#11 | |
Senior Member
Join Date: Jan 2005
Posts: 2,117
Thanks: 1,329
Thanked 559 Times in 288 Posts
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#12 |
Senior Member
Join Date: Jun 2021
Posts: 3,394
Thanks: 3
Thanked 598 Times in 494 Posts
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Our State government runs on largely income and sales taxes, that are partially transferred to the municipalities to lower the property taxes.
The only thing currently in the works is court cases to remove the SWEPT retainment and another to possibly increase the State education grants. |
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#13 | |
Senior Member
Join Date: Apr 2004
Posts: 1,308
Thanks: 125
Thanked 472 Times in 287 Posts
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Did your assessment go up 112% or 12%? If it actually went up 112% that means it was assessed at less than $1M before. Sent from my iPhone using Tapatalk |
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#14 |
Senior Member
Join Date: Oct 2004
Location: Laconia NH
Posts: 5,577
Thanks: 3,220
Thanked 1,103 Times in 794 Posts
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Entry to one of these communities is income-based. You can buy a cottage with an HOA, or you can rent an apartment. I consider the initial investment as long-term care insurance. No matter what happens you are taken care of until passed. They use any income you have such as annuity, pensions, etc as well as your social security as factors for monthly rent. They even used Medicare and any supplement you may have to pay for medical costs. So the initial investment varies among individuals. When you pass, if you have extra money in savings and annuities, they will be passed to your heirs.
You need to check it out and not base your thinking on hearsay. I can live in my condo off campus should I sign up. If I need assisted living or nursing care. I'm covered. I also enjoy all the benefits of the community such as social events, gym, dining/cafe et al. I enjoy at-home care if needed. It's worth looking into in your late years.
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Someday may never be an actual day. |
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