Cooperative living arrangements provide extra benefits in senior living communities. The role of happiness in longevity is well documented; a cooperative living space allows residents an environment that allows them to thrive. Consider these unique advantages to cooperative living when deciding on an arrangement for your retiree.
- 1) For the Residents, by the Residents
Independence is a key to maintaining a healthy lifestyle. BayWoods residents lead a vibrant lifestyle through a system of self-governance. By electing their own board members, all residents have a say in what their future will look like. Residents have the option of guiding the program schedule, making improvements to the property, even adding books to the library. We believe our residents thrive on the autonomy they experience at BayWoods. Come and see for yourself.
2) Financial Stewardship
Unlike other assisted-living arrangements, cooperative living environments offer your senior loved one a high-quality financial investment. Residents here act as the direct financial stewards of their living space here at BayWoods. We believe that maintaining financial independence is an important aspect of retaining the dignity of our residents. To understand how this works, call us for a more detailed explanation.
3) Tax Benefits
In a cooperative living arrangement, each resident owns a share in a corporation, providing important tax benefits. Our seniors enjoy the financial benefits of cooperative living when tax time arrives each April. For more information on taxing and cooperative living, talk to your tax advisor.
When it comes time to decide on a living arrangement for yourself or a loved one, consider BayWoods of Annapolis. Our cooperative living space allows seniors to lead active lifestyles while encouraging financial and personal independence. To learn more about our unique philosophy and discover the benefits of cooperative living, please contact us. Our management team and staff are always happy to answer questions about our way of vibrant senior living.