Senior Retirement Living

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The notion of Senior Retirement Living is often meant to describe retirement communities occupied by those aged 60 and over. These senior retirement options are no longer just destinations for those seniors looking to slow down. In fact, many of the current trends suggest the opposite to be true. More than 77 million baby boomers will reach retirement age in the next 20 years, and people are heading to senior communities with outdoor clubs more typical of the college campus than the traditional senior retirement living community. People over 60 are also choosing to move earlier than ever to senior communities for security, personal safety, transportation, services, and to be closer to peers who share their passion for life.

There are many names for retirement communities, which are also known as retirement homes, condos, apartments, retirement hotels, mobile homes and cooperative housing. These senior retirement living alternatives provide age-segregated, independent living units and offer personal care services, social activities and limited nursing supervision. Retirement communities vary significantly in costs ...
... and benefits offered and are not subject to any particular regulation at this time.

Senior retirement living communities have also needed to make adjustments to accommodate the recent surge in couples. In the past, singles were moving into retirement communities, so there was little need to design and market to those couples who are now willing to leave their homes after the children have left the nest, so they can have a new nest of their own. Some older retirement communities are actually taking two separate apartments, knocking down a wall and making a more comfortable two bedroom apartment.

Couples are also arriving earlier in their lives, choosing to leave the daily hassles of home maintenance for the convenience of condominium or apartment living. The additional amenities such as laundry service, grocery shopping and delivery, even meal plans, further entice the retiree. And these seniors want to get settled and engage with a new community while they are young enough to actively enjoy the offerings.

People still want to have the emotional satisfaction of ownership of their property, as well as any interest tax deduction. This gives them the financial security they were used to, as well as the control they need in their lives. People are moving into senior retirement living communities for all the benefits of home - without the maintenance hassles and costs.

There is another recent trend in senior communities: the increased integration with general society through events and activities that draw from the general public. More and more retirement communities are reaching out outside of their parameters, to restaurants, performing arts centers and other community-based organizations as a means to offer residents access to nearby social and entertainment venues, without building or duplicating those on the retirement property. This provides every community the best of all worlds.

Now for those who are interested in senior retirement living for the very, very long haul, there are also places known as Life-care retirement communities, or Continuing Care Retirement Communities. These offer eligible individuals the option to buy or lease an apartment unit and receive guaranteed care in a skilled nursing facility as part of the price of admission. When the leasing option is chosen, extended health care services may vary. Entrance fees and monthly charges typically accompany this option. Waiting lists are usually long, as continuing care retirement communities are state licensed and more rare, though a growing segment of the senior housing market.