No. of Recommendations: 0

I'm not recommending this for everyone, but the waiting list is five years long, so some folks think it's worth the price. For us, part of the appeal is that it's just up the road and still within walking distance of the beach.

For one thing, you can't buy anything in Montecito for $500K -- last I read, median price house was around $2.3 million, and even a decent condo costs well above $1 million and can go above $2 million. The retirement resort was converted from a grand estate decades ago, so the grounds are beautiful. Residents come from around the world, and include the rich and famous. Many have their cottages extensively remodeled, and some combine two units to create an even larger living area. We ain't talking about poor folk like you and me here.

Not all of Santa Barbara is that expensive. My mother moved to a very deluxe retirement resort where her moderate size one bedroom apartment was a little under $100K, with a fee of about $2,000 a month. But if she needs assisted living or nursing care, her monthly costs can go up substantially. Her first choice was the flat-rate community discussed above, but she was still on the waiting list when her current place became available.

You pays your money and you takes your choice.

Print the post  


When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.