At some points, most older adults must face the decision about where to spend their later years. And it can seem a bit overwhelming trying to determine the best choice. Fortunately, there are plenty of options these days so that you can find the right fit for your needs now and into the future. For the relatively independent senior, you can stay where you are, downsize your home, or sometimes change nothing at all. For those in need of more assistance, there are several types of facilities to choose from that can help you meet your physical and mental health needs.
If you are moving in this direction, narrowing down available options means focusing on current needs, as well as those you anticipate in the future. Additionally, as Mint explains, having a proper budget that supports you throughout retirement is critical in the decision-making process.
One crucial aspect of budgeting is housing affordability, so determining what you can afford plays a large role in where you lay your head. If you decide to age in place, you’ll want to consider the cost of aging in place modifications. If you’re downsizing, you’ll need to assess how much you can get for your home and what you can expect to pay for a new one. If assisted living is your choice, you’ll have to account for the associated costs indefinitely.
Since so much depends on housing costs, it’s important to become familiar with all the details to help you sort your options. Find out what homes are selling for in your neighborhood too when you’re debating your living arrangements. If you can make a tidy profit from selling, that may be the push you need to move. Additionally, you have to factor in moving costs; in Santa Monica, for example, the average price of professional movers is $349, though that expense will ultimately be determined by the scope of the move, the number of movers you’ll need to finish the job, and how far the movers will be required to travel.
When it comes to zeroing in on the right decision for your lifestyle, consider the following list of senior housing options.
Aging in Place
Aging in place is perfect for the senior who is still mostly independent. This allows you to enjoy the comforts of your own home while living out your golden years. As time goes on, you can consider adding in-home care to assist with certain tasks like grocery shopping, household maintenance, and meal preparation. With proper planning, you can also remodel your home to make it more accessible and help prevent injuries.
Independent Living Communities
Independent living communities consist of small apartments, condos, or sometimes even free-standing homes within a compact neighborhood. These communities offer services such as meals, housekeeping, and community activities. Occasionally, there are even medical services offered for a portion of the day, but they usually come with an extra fee.
Assisted living typically includes small apartments equipped with kitchenettes, and individual or shared rooms. Here you can expect to have access to more medical services, medication management, dining services, and even recreational activities. This is especially beneficial for warding off loneliness. Additionally, many assisted living facilities are equipped to handle seniors with Alzheimer’s or dementia.
Nursing homes offer the most attentive level of care. In a nursing home, you can expect around-the-clock medical services, even if your medical needs are complex. Nursing homes often provide varied care for specific types of needs. For example, they may have an area for seniors recovering from injuries related to falls or an area for late-stage dementia patients.
Continuing Care Communities
As Money.com explains, continuing care communities typically include a variety of living arrangements to meet changing health needs. As you age and your care requirements go up, your price will not. This option is typically costly, but if you can afford it and it will help you live out your golden years safely and happily, it’s a wonderful choice.
Choosing the right housing option can be a considerable task. If you need assistance, don’t hesitate to pull in family to help you choose. Once you settle on your next chapter, you’ll have more time to dedicate to enjoying retirement and making the most of your golden years.