Aging is a time of adjustment and change, and planning your future retirement housing requirements is an important part of ensuring that you continue to prosper as you get older. Of course, every older adult is unique, so the retirement housing choice that’s right for one person may not be appropriate for you. The key to making the best decision is to match your retirement property with your lifestyle, health, and monetary needs. This may mean modifying your own residence to make it safer and more comfortable, or it could mean transferring to a retirement housing facility with more assistance and social options available on site. It could even involve enlisting in a network of like-minded people to share particular services, or moving to a retirement community, an apartment building where the greater part of tenants are over the age of 65, or even a nursing home.
When deciding on the retirement housing plan that’s right for you, it’s significant to consider not only the needs you have now but also those you may have in the future:
- Physical and medical requirements. As you age, you may need some help with physical needs, including activities of day-to-day living. This could range from shopping, cleaning, cooking, and looking after animals to intensive help with bathing, moving around, and eating. You or a loved one may also need increasing help with health needs. These could arise from a abrupt condition, such as a heart attack or stroke, or a more progressive condition that slowly needs more and more care, such as Alzheimer’s disease.
- Retirement townhouses upkeep. If you’re living alone, your existing home may become too difficult or too expensive to manage. You may have health problems that make it hard to manage projects such as housework and yard maintenance that you once took for granted.
- Personal and emotional needs. As you age, your social networks may change. Friends or relatives may not be as close by, or neighbors may move or pass on. You may no longer be able to continue motoring or have access to public transportation in order to meet up with family and friends. Or you merely may want to expose yourself to more social possibilities and avoid becoming isolated and housebound.
- Financial needs. Adjusting your home and long-term care can both be expensive, so managing the care you need with where you want to live requires careful assessment of your budget.
Continuing Care Retirement Communities are facilities that include individual living, assisted living, and nursing home care in one location, so retires can stay in the same general area as their elderly housing needs change over time. There is normally the cost of buying a retirement condo in the community as well as regular fees that increase as you require higher degrees of care. It also can mean spouses can still be very near to one another even if one requires a greater level of care.
Buildings or cottages limited to retirement citizens. Retirement real estate units are intentionally built to include the provision of amenities, recreational and socialization activities, and supportive support (such as housekeeping, laundry, meals, transportation). Monthly charges usually include supportive services.