Good morning. Today, we're going to discuss an important topic that affects many individuals as they enter their senior years: housing options. As our children grow up and move out, we may find ourselves wondering if living alone for the next few decades is the best choice. Loneliness, social isolation, and chronic health problems are risks that we want to avoid. Luckily, there are alternatives to traditional retirement facilities. Let's explore three current trends in group housing for seniors that offer benefits for both health and finances.
1. Specialized Communities:
Specialized communities are private mini-neighborhoods where dwellings are clustered around shared spaces. These communities can consist of individual houses, cottages, or apartments. They often have recreational areas, gardens, parking, and a common house for gatherings and activities. They can be run by the residents themselves or nonprofit organizations. Specialized communities come in different types, including intergenerational communities, communities for individuals aged 55 and older, and mission-oriented communities with shared goals. These communities promote socialization, active involvement with neighbors, and a sense of belonging. They can also be more affordable than traditional housing options. To learn more, you can visit the Cohousing Association of the United States website.
2. Home Sharing:
For many individuals, sharing a home with other adults is a practical and beneficial option. It allows them to take on a boarder, earn extra income, and enjoy companionship. There are groups like Silver Nest and the New York Foundation for Senior Citizens that help connect homeowners with mature boarders. They assist with listing spaces, conducting background checks, and setting up leases. There are also companies like Nesterly that connect older homeowners with younger boarders, who agree to pay rent and assist with household tasks. Sharing a home with friends or siblings is another option, which allows for shared expenses and the opportunity to support each other. This arrangement can be especially helpful when it comes to accessing services like private-duty care.
3. Residential Care Homes:
If you require more than just part-time assistance and prefer a homier atmosphere, residential care homes, or group homes, may be suitable for you. These homes are set up like small assisted living facilities in private residences that are licensed by the state. They typically house four to ten residents and have qualified staff available around the clock. Services include assistance with daily activities, such as bathing, dressing, meal preparation, cleaning, and transportation. Each resident usually has a private or shared bedroom and bathroom, as well as access to common areas for socializing. Costs for residential care homes are similar to assisted living facilities and are based on the level of care needed.
It's important to plan for our future housing needs as we age. Waiting until the last minute can limit our options. By considering specialized communities, home sharing, and residential care homes, we can find housing solutions that promote socialization, provide support, and fit our financial circumstances. Remember, being proactive and thinking ahead is the best approach. Thank you for your attention today, and I encourage you to explore these housing options further as you plan for your future.
