As the number of people over 65 in the United States continues to rise, the concept of “home” is becoming increasingly complex for this demographic.
Most seniors want to age at home, where their memories and comfort remain. Some seniors, though, decide to downsize rather than keep a home that would be unaffordable for just one person. Living at home with an adult sibling or other relative is the new norm for some people. One alternative is to relocate to senior housing, such as an apartment complex, an assisted living facility, or a retirement community. Some seniors are adopting the latest trends in the senior housing market by sharing a home with others, living in a cohousing community, or moving into a senior village.
A lucky senior citizen or couple can lean into a brand-new dwelling. Nonetheless, a change in living arrangements may be necessary when an older adult faces unforeseen circumstances. That’s why it’s ideal for seniors to begin thinking about how they want to spend their latter years long before circumstances dictate otherwise. This can cover everything from selling a home to establishing a care plan for the elderly. Seniors should let their adult children and close relatives in on their plans and preferences to avoid unpleasant shocks. We’ve created the Right Conversations Guide for families looking to reduce tension as they prepare for an aging loved one.
Aging in Place
The costs of upkeep and repairs, let alone alterations to make a home more accessible, can be prohibitive for many retirees who haven’t budgeted accordingly, even though living independently in one’s own home has many obvious advantages. Since many elderly seniors now choose to retire far from their children and grandchildren and from important facilities like supermarkets and hospitals, mobility and care can be additional challenges to achieving a high quality of life. If seniors lose their ability to drive, they increase their risk of social isolation and perhaps poor self-care.
Places for the Elderly/Assisted Living Facilities
Retirement communities and assisted living facilities for the elderly are already well-established as a way of life. This is a transitional option between complete independence while aging in place and integration into a social network of seniors of a similar age with care to health and social support systems. Many elderly seniors cannot afford it because of its exorbitant price. Many can afford assisted living but choose not to participate because they would rather age in place than in a home.
Home Sharing
Home sharing is a novel way of life that is gaining popularity. Here, a senior homeowner or renter is paired with a suitable housemate, often another senior. A homeowner or renter may be eligible for assistance with payments, repairs, and even basic needs like food and clothing. Or there could be no other reason for the pairing than friendship. Only a few states now offer home share programs, which screen prospective roommates for compatibility and security. The aging out of the baby boomer generation is expected to lead to a spike in the number of homeless seniors, and home-sharing is seen as a senior solution to this problem.