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As our parents age, figuring out their housing setup can be challenging. Usually, as people age, they no longer want to live in places where young people are throwing parties or young parents are raising their children. It seems like the best option is to purchase senior condos or homes for your aging parents.
You can buy condos and homes built specifically for people above the age of 55. Usually, these homes are located in what is called a retirement community. These communities are typically well protected with neighborhood police officers and gates requiring an entrance code.
Read on to find out more about how retirement communities work and what other options may be available for your aging parents.
Retirement Communities – What You Need To Know
Retirement communities aren’t a recent addition to society, but many people know very little about them. These communities, however, have and continue to play a massive role for those aging into their golden years.
You’re probably wondering what a retirement community is, so let’s discuss it. In short, a retirement community is a neighborhood built for adults at least 55 years old. The age requirements vary from community to community, but 55 is the average age at which one can move into one of these neighborhoods.
Just be aware that in some communities, residents can move in as young as 50. In others, they may need to be at least 60 years old. So, if you have a parent who is 57 years old, you may need to wait a little longer before moving them into certain communities.
Retirement communities offer a broad range of choices that allow residents to find their ideal homes.
Usually, there are options for any of the following:
- Single-Family Homes
- Condos
- Townhomes
- Apartments
- Mobile Homes
These housing options vary widely in price. Of course, communities that feature mobile homes or apartments will be cheaper overall than those with single-family homes or townhomes.
You will also notice that these communities are nothing like nursing or old age homes. There is no staff providing around-the-clock care. If a resident needs extra care, they will need to hire a private caregiver.
Moreover, you’ll notice that many of these retirement communities are very luxurious, some of them even featuring inground backyard pools, screened-in porches, and more. These communities are designed for independent seniors to live as normally as possible without interruptions from younger families in the area.
Factors You Should Consider When Purchasing a Home in a Retirement Community
When you choose to purchase a home in a retirement community, you are still purchasing a home. You want whatever you choose to purchase to last for many years to come, especially if your parents are moving in as early as 55 years old. You’ll also want to consider how much your parents will enjoy living here. Otherwise, it could all end up being a waste of time and resources.
With this in mind, here are some things you should consider moving forward.
Do Your Parents Want To Live in an Age Restricted Community?
This should be a major factor in deciding where to move your parents. If they don’t want to live in a retirement community, then, ultimately, it would be of no use to purchase a home here. Unless, of course, you’re purchasing for yourself thirty years in advance!
In truth, it should be your parent’s decision on whether or not they move to a community like this. So, while it may seem like a great idea to purchase a home here and surprise them with it, it may not be the best decision.
What Are the Rules of the Community?
Nearly all retirement communities have some rules for residents. Usually, these include policies like only allowing underage visitors for a certain amount of time or various HOA rules.
While you, as the purchaser, may be handling many of the HOA rules, your parents still have to abide by the rules within the community. Additionally, it’s important to recognize that some of these HOA rules will affect them. For example, there may be restrictions on how they can decorate the exterior of their home.
Do Your Parents Want To Be Surrounded by Other Retirees?
Everyone handles age a little differently. Many people become volatile as they age. Others fall more in love with life with each passing day. However, it’s important to realize that not everyone’s golden years are golden.
With this in mind, your parents may prefer to tolerate the screaming children in the yard next door over neighbors who may have developed a bad habit of complaining and nitpicking. Each person has their own threshold for handling such issues.
Moreover, most people who live in retirement communities are, as you may have guessed, retired. This leaves them with a lot of free time. What they do with their free time varies widely.
While living in a retirement community can give your parents an opportunity to build great new friendships with others their age, it can also lead to unwanted disputes and arguments depending on the type of people they’re surrounded by.
Will Your Parents Fit With the Community?
Are your parents still going rock climbing and bungee jumping? If so, an age-restricted community may not be the best option!
I know, chances aren’t high that your parents are still partaking in these types of activities in their older years, but aging people are unpredictable, and you never know!
Retirement communities often include significantly older residents – well into their 70s and 80s. At this age, these individuals are usually ready to settle in for the long haul and await the end of their lives. If your parents still have a strong desire for adventure, this can cause a major disruption to those around them.
It’s not just a sense of adventure that could create a problem, though. Views on religion and politics also play a vital role. Honestly, how many times have you heard someone complain about one of these things in your life? Probably a lot.
Like anyone else, your parents probably want to live around people who believe and behave similarly to themselves. This doesn’t mean that a retirement community would be a bad idea. Instead, I encourage you to scope out multiple communities before deciding to purchase a home for them.
What Are the Amenities?
Some say that amenities make the neighborhood, and I can’t disagree. Most retirement communities have added amenities such as a community pool, golf course, and so on.
When moving your parents into a retirement community, gathering information about what amenities are available and who owns them is essential, especially who the owners are.
What Additional Activities Are Available To Participate In?
As we age, we often feel like we’re missing out on previous activities we used to participate in. This can sometimes come along with a major feeling of loss or fear of missing out.
Retirement communities often provide additional community activities for the residents to take part in. These can include sports games, on the gentle side of course, and intellectual pursuits such as study groups or trivia games.
Of course, these aren’t the only factors you should consider purchasing a home in a retirement community, but they are some of the most important. I would also suggest paying special attention to what things look like with the HOA, including rules, contact, etc. Remember, even if you purchased the house, your parents would still have to handle a lot of the issues that may be presented here.
How To Find and Decide on the Right Community
You should realize upfront that it may take longer than a typical home search to find the right home for your parents. As discussed in the section above, there are quite a few other factors you’ll need to consider before purchasing. It goes far beyond simply size and location.
Many people begin researching the right community a couple of years before actually planning to purchase. If the perfect fit comes along early, great! However, you should always give yourself adequate time to choose wisely.
You should consider looking for an agent that specializes in helping people select homes in age-restricted communities. Because there are so many factors involved in choosing the right community, it can be a major benefit to have a specialist who can guide you.
You should keep in mind that no two communities are exactly the same. While many share similar features and rules, the people, management, amenities, and so on will all look a bit different between communities. So, don’t give up if you don’t find the right one immediately.
When looking, you’ll consider many of the same factors you may think of during a traditional housing search. You’ll look at the layout of the houses and consider square footage and neighborhood activity. Overall, finding a house in a retirement community isn’t that different from finding one outside of a retirement community. There are just a few added concerns.
You can find age-restricted communities in your area by doing a simple online search on retirement communities. You may have to sift through a few different resources if you’re working independently. Search results will often pull up a mix of retirement communities and old age homes or nursing homes. If you want an easy tool for finding senior living communities check out Senior Guidance’s retirement community locator.
This is one of the reasons why it’s best to work with a local professional specializing in senior living. They’ll most likely know exactly what to look for when deciding on the best fit.
When making a decision, consider all the factors discussed above as well as any additional concerns you may have.
What Types of Housing Can You Expect To Find in Retirement Communities?
One of the best parts of today’s retirement communities is the diversity that they boast.
Most often, these communities feature single-family homes. Most of the time, the houses are also single floors to help aging people get around without issue. This is a huge advantage if your parents have recently become disabled. Not having to fight to climb stairs is a major benefit, even if they aren’t.
Usually, these houses will look similar to a normal home. Some may come with grab bars or other assistance options at your request. However, additions like this can usually be added or taken away with a word.
Retirement communities often feature condos as well. This is the second most common type of house you’ll find in these communities. While condos do incorporate stairs, in retirement communities, they’ll always have a working elevator available. However, this can be a cause for concern for aging parents.
If you choose to purchase a condo, first ensure that your parents can function in one long term. The same can be said of apartments, even more so since they don’t always come equipped with elevators.
Finally, you’ll find townhomes. Townhomes include spaces like duplexes and triplexes. These tend to be cheaper options but still allow you and your parents to feel like they’re living in a regular home.
Often, when someone has been living in a single-family home for many years, they don’t want to move into a condo or an apartment. They want to maintain their privacy and ease of mobility. Townhomes provide a good meeting point where everyone can feel like they’re getting what they want.
Ideally, you’ll be making the decision on what to purchase with your parents. As I mentioned, even though surprises are nice, it can create more issues to make the decision without them (unless you know exactly what your parents are looking for). Perhaps a better option would be to surprise them with the idea of purchasing a house. Then together, you can discuss whether or not a retirement community would be the best option.
Some senior apartments let you live with your elderly parents. Read my guide to learn the pros and cons of living with your parents. Can You Live With a Parent in Senior Apartments?
Conclusion
There are tons of age-restricted communities out there. Several of them will be excellent options for your aging parents, but remember to consider the decision thoroughly before purchasing.
Most of the houses you’ll encounter in retirement communities are almost exactly like previous houses your parents may have owned. However, this doesn’t mean that it’s not a big step to choose to move into such a community.
Before deciding on a house, you should consider all the factors involved and discuss them with your parents. Together, you’re bound to find the perfect fit.
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