James ask
:"What happen if the unforeseen take place, all your savingis wipe out and you can't make the monthly payments, do they still kick you out even though you gave them $200000.00 for the privilege of living there???"
I was not involved in this part of the sales process. My guess is that they are looking for not only the upfront money, but sufficient resources to support your payments in any unforeseen event. I am not qualified to tell you what level of reserve you need. But I think if you are investigating, this is an excellent question.
I live in a Co-op apartment in Manhattan, if someone wants to buy into our building we requires a validation of income and a specific reserve. I am sure it is as strict - or even more so - in these buildings. In my opinion it should be. If I am in the building I don't want to subsidize a deadbeat.
As you know, ask many questions and investigate options. I am sure there are different levels of service - some may not be of any value to you. So make sure you are not paying for these. Good luck. Personally, I would seriously consider moving into one of these facilities. I see nothing wrong with spending the money I worked hard for my whole life so that I can have a comfortable experience in "god's waiting room" (just a little inside nursing home joke).