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​ 5 Senior Housing Options to Consider

Written by TYE Medical on Feb 16th 2023

​ 5 Senior Housing Options to Consider

Looking to downsize and explore new living arrangements? You can begin evaluating your senior housing options as young as age 50 when several resort-style retirement communities begin their marketing campaign. You’ll have your pick of more retirement communities when you turn 55.

But what are your senior housing options? What is available beyond the traditional retirement community? The right fit for you will depend upon your needs, your preferences, and of course, your wallet.

1. Aging in Place

senior couple sitting at a brightly lit counter, happy

Do you really have to move? Before you make plans to sell, consider if starting over in a new place is really your best option. Sometimes your best senior housing option is the one you already have, with a few modifications, of course. It could be as simple as adding some grab rails in your bathrooms or moving your bedroom to the main level.

This will take some planning, some financial means, and a contractor. However, in the long run, it could save you money. And if you like where you live, why not stay?

But “aging in place” isn’t for everyone. You might find that too many “modifications'' are required and that the total renovation of your home isn’t feasible. And it’s also possible that you’ll eventually need additional, consistent care.

But even if your medical and practical needs change, you can continue to live at home with the help of an in-home care service. Personal care workers can help you with daily tasks like cleaning, cooking, and running errands. Skilled care workers are also available at home, and some agencies provide nurses and therapists to assist you.

2. Moving in with Your Kids

senior couple looking at an iPad with their adult daughter, smiling

Depending on your circumstances, this could be a dream come true or scenes from a nightmare. But you might want to consider the major advantage of cutting your living expenses in half. And if you’re single, moving in with your adult children can help keep loneliness and its health risks at bay.

If you don’t have enough money to hire part-time caregiving, you might have enough to cover some of your son or daughter’s expenses as they meet some of your care needs and share their home.

Wondering how that would work–really? Your best chance of success is to set well-defined guidelines upfront. Be sure everyone understands how personal space, communal living, and money matters will work.

3. House Sharing

two senior women smile at each other while they cook separately

Living with family members can be…complicated for some. You might prefer to share rent with another senior over taking up residence with those close to you. Not only does senior house sharing help with the financial burden of housing, but it can also combat loneliness, which has been linked to mental and physical decline among those over 50.

Already own a home? A housemate can help cover some of your living expenses. And if you rent, a roommate can cut your rent in half. This can be a beneficial and viable option for seniors seeking to unload some financial weight. And it’s not uncommon, which means you can browse websites like Senior Homeshares or Silvernest to find people like you who need a roommate or space to rent.

4. Independent Living Communities

seniors in red aprons taking a painting class

You might also have heard independent living communities referred to as “active adult communities,” “retirement villages,” or “senior housing”. It’s one of the most communal senior housing options. You have your own private living space but also share common spaces and amenities with others seniors in the community.

You could think of it as senior dormitories with a close-knit community that includes common areas and activities. However, you aren’t required to have a roommate in many cases. Seniors who like to be social and more active would benefit from this type of senior housing. Independent living communities often have golf courses, on-site theaters, and even restaurants. It reduces travel outside of the community to make socialization and engagement more accessible and practical for seniors. Many communities often offer group excursions.

5. Assisted Living

orderly in scrubs hands sitting senior woman a glass of water

A nursing home isn’t your only option. If your primary need is some help with daily tasks, assisted living may be a far better option. Nursing homes are right for those who need them, but settling into a nursing home too soon could actually accelerate decline and increase dependency needlessly.

Assisted living is very similar to independent living communities in that you have your private space, communal areas, and social activities. But you also gain the benefit of daily care and assistance with your daily needs like personal hygiene, housekeeping, and medication assistance.

If you don’t require assistance around the clock, this is a great option. You won’t have on-site medical care, but many communities provide memory care units for those with cognitive impairments like dementia or Alzheimer's.

Finances can be an obstacle. The median cost for assisted living is $4,500 per month. But in some cases this is all-inclusive, which means that meals and utilities are included for that price. Medicare won’t cover assisted living but some long-term care insurance plans do.

Make Informed Choices

senior dolls sitting next to tiny piles of coins with baby trees growing out of them

When it comes to where you’ll live after retirement or as your needs change, information is your best ally. It’s common for people to make assumptions that limit their options. You might assume you can’t afford an alternative to your current situation. Or, you might think moving in with family is the only viable course. But there are many senior housing options to support a range of needs. What’s most important is that you have a plan for “aging well."

Do your research, make phone calls, and ask questions. And if you’re not at retirement age yet, be sure you understand your insurance plans and consider long-term care options that may be helpful if you require assisted living.

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