Need advice on selecting the best retirement community for your needs? Know that you are not alone! More and more Americans are reaching old age as the baby boomer generation ages and the average lifespan rises. Indeed, by 2030, people aged 65 and up will account for over 20% of the overall population! Below is a common visual representation of the spectrum of senior housing care, with each end corresponding to a different level of assistance needed by residents. Let’s delve deeper into the most popular types of retirement communities.
Age-restricted Communities
Age-restricted communities (commonly called retirement communities, despite the fact that residents do not need to be retired in most cases) allow residents to maintain their independence while mingling with others of a similar generation. Apartments, condos, townhouses, and even single-family homes may all be found in all the neighborhoods. Tennis courts, swimming pools, clubhouses, and other on-site facilities are just a few of the ways that age-restricted communities ensure their residents remain active and involved in the community.
Assisted Living Communities
Independent seniors who still need help with daily tasks like housekeeping, bathing, medication management, and transportation can find it in assisted living communities. These amenities, along with regular meals and fun events, are standard in assisted living communities.
Skilled Nursing Facility
Nursing homes classified as “skilled nursing facilities” provide round-the-clock medically supervised care from licensed nurses and doctors. Social and recreational activities are offered, just like in assisted living homes, but they are planned to take place within the facility itself. Long-term care and short-term care are two of the different types of services that can be provided by skilled nursing facilities.
Long-Term Budget
Planning a budget for a senior living community is distinct from planning a budget for a home loan or rental. Since most seniors are already retired or about to retire, they are on a fixed income and must factor in housing expenditures for the foreseeable future. Care needs typically increase alongside the cost of housing, which can be a significant burden on the elderly. In order to better understand your present and future income prospects and prepare for both current and future living expenses, it is recommended that you consult a financial advisor that specializes in budgeting for senior living. If you know how much you can afford, you can focus your search on senior housing facilities that are within that range.
Visit in Person
This is a general rule for any new house purchase. However, it may be even more important when selecting a senior living complex due to considerations like care quality. Basically, you should check out a place in person before making any kind of commitment to living there. However, we recognize that it can be challenging for seniors to tour numerous areas and that this challenge is amplified when the transfer is a long distance. A smart alternative is to ask a friend or family member to visit the area and get a feel for it on your behalf. If neither of those options works for you, try finding a video or 3D tour of the area online (many communities have such).
