Everything Is Negotiable

Have you ever bought a car without haggling over the sticker price? Or paid “asking price” for a house? While most people don’t think twice about negotiating for everything from to washing machines to garage sale discoveries, few would dare bargain when entering an independent living facility.

And that’s a big mistake, according to a story published in the Wall Street Journal in May. It notes that although the average entrance fee for a unit in a continuing-care retirement communities is $259,000, the real-estate slump has made it tougher for seniors to sell their houses and move to these communities, sparking unwanted vacancies. The story shares the experiences of financial planners who were able to wrangle everything from a golf-cart-for-life deal for a client moving to a large continuing-care retirement community to a dishwasher and a "bigger, fancier stove" for another client. Another senior was able to get a 20 percent discount on the $100,000 "refundable endowment" at a continuing-care retirement community in Orlando. It’s wise to remember the age old adage: It never hurts to ask….

For the full story, click here.