Looking for living arrangements as one ages can be challenging. Factors such as finances, access to amenities and medical resources, proximity to loved ones, safety and security, and social interactions must be considered when looking for a living facility for seniors. Luckily, today, seniors have many options to choose from. Housing services range from small repairs and renovations in their existing homes to more elaborate and customized arrangements at assisted living or nursing facilities.
1. Aging in place
Many seniors are comfortable in their current housing arrangements and prefer to remain put. To make this accommodation safer for them, minor updates can be made around the home. Some common additions include grab bars and safety railings in the bathrooms, stairlifts, and wider pathways. This is often referred to as aging in place. Several organizations offer assessment and modification services to help seniors understand what their home needs to enable them to live there indefinitely.
2. Sharing a house
Seniors can also consider renting out an apartment or home with another senior. This setup allows them to live independently while having someone to talk to, assist with daily activities, and share expenses. One can turn to popular senior home-sharing websites to find others in a similar demographic and self-sufficiency.
3. Moving in with children
One of the most cost-effective options seniors have is to move in with their children. This can help cut down living expenses by half and offer mutual benefits to both parties. But it may also place the burden of care on the children, which they may not be okay with.
Many children build accessory dwelling units (ADUs) or separate housing units on their lots to accommodate their parents so everyone can enjoy privacy. That being said, it is important to note that ADUs do not have legal clearance everywhere. So, one should check with the local authorities before taking on ambitious construction plans.
4. Choosing independent living communities
Many seniors enjoy the independence that comes with living alone. Independent living communities offer just that—the freedom to live as one wants. Although these accommodations typically do not include access to medical care or daily assistance, they offer access to other facilities such as pools, gyms, activities, and transportation. This setting is ideal for those in good physical health looking to live around a similar age demographic.
5. Moving into assisted living communities
This setup is similar to independent living but includes access to medical care and assistance with daily activities. This is a great place to stay for those who require help with basics like bathing, cooking, and laundry. That said, they do not provide the skilled medical care one would receive at a nursing facility. Many of these facilities now have access to a small memory care unit to offer holistic care to seniors. Most of these communities offer tiered plans, with rents varying depending on the level of care one chooses. Medicare does not cover assisted living, but one may find coverage for them in their long-term care insurance plans.
6. Choosing life plan communities
Moving from one accommodation to another can be tough as one’s needs change. Continuing-care retirement communities (CCRCs) or life planning communities were designed with this need in mind. They provide seniors access to increasing levels of care, such that a single campus or location may have independent living arrangements, assisted living facilities, and skilled nursing homes. To stay here, seniors must either pay a monthly rent or a lump sum amount initially, followed by regular maintenance charges. According to some sources, staying here could cost anywhere between $3,450 and $7,303 per month.
7. Opting for subsidized housing
Low-income seniors might be more inclined toward subsidized housing made available by the federal and state governments. The country’s Housing and Urban Development (HUD) maintains affordable public housing and single-family homes, often including access to features like rails and ramps, transportation services, and cleaning services for seniors. Since these arrangements and their eligibility requirements differ from state to state, it is best to approach the local Public Housing Agency or speak to a HUD Housing Counselor for guidance. The subsidized rent is usually about 30% of one’s income. Seniors can also consider applying for Section 202 Supportive Housing for the Elderly Program, which helps seniors find affordable housing that meets their physical needs. One should note that these programs are often at capacity, which often makes subsidized homes difficult to come by.
Alternatively, seniors can look into more traditional living arrangements and apply for vouchers or credits under programs like HUD’s Section 8 Housing Choice Voucher Program or Low-Income Housing Tax Credit (LIHTC) Program.
