Pros and Cons of the Top Three Senior Housing Options

By Harry Cline

As we begin to get a little older, we have to start thinking about where we’ll live out our best years. We are now free from the constraints of the workplace and have time to travel, play with the grandkids, or to simply relax. Being active and engaged is crucial as we inch toward 70 and beyond. Just as important, however, is where we choose to live.

Having a safe and comfortable environment is essential. With each passing year, we become a bit more susceptible to things like dementia, isolation, and impaired mobility. It makes sense to lay out a plan for the future now so that we can continue to enjoy the things we love.

For most seniors, this comes down to deciding between staying in our current home, moving into a senior-friendly single-family home, or transitioning into assisted living. Here are a few of the pros and cons of each that you need to keep in mind.

Assisted Living

An assisted living center is a structured environment where seniors continue to have a great level of control over their lifestyle. MedicalAlert Comparison notes that these senior communities are no longer the institutional agencies of the past. Instead, the vast majority of assisted living facilities resemble an all-inclusive vacation resort. The biggest difference is that, in addition to being set up for enjoyment, assisted living is designed with the unique needs of seniors in mind. In addition to safety, these facilities offer things such as meal preparation, assistance with medication, and transportation services, among others.

One of the most significant benefits of assisted living is that seniors here remain somewhat self-sufficient and usually have a one-bedroom apartment or studio they can decorate to feel like home. If you live in the Naples area, you should know there are many high-quality assisted-living campuses nearby. Make a point to tour several before making a decision. A Place for Mom points out that monthly fees vary from $1,500 to $7,604 per month, so cost may be a slight negative if the facility you want is toward the higher end of the spectrum.

Renovation

Renovating your current property is often cost-effective and can help you stay where you are most comfortable for as long as possible. The most important benefit of aging in place, however, is not money. Some studies even indicate that remaining in familiar surroundings can help lessen the effects of memory loss.

On the downside, if you live in a large home, you may wind up having “dead zones” throughout the house. This might be an upstairs master bedroom that you can’t use because you can no longer navigate the stairs. Home maintenance, housekeeping, utility expenses, and the overall cost of living in your area must also be considered. Keep in mind that even if you do not use the entire property, you still have to heat and cool, clean, and maintain each area.

Relocation

Finding a new home for your retirement years may also be a smart choice, especially given that many areas throughout the US and Canada have updated building codes to include accessibility-focused design elements. A home with this scheme would be more accessible to you even if you use a walker or wheelchair. Further, you might be able to find a smaller property or one with an HOA that handles lawn maintenance and common area upkeep.

Drawbacks to this option really only come into play if your physical condition declines to the point where you can no longer live alone safely. In this case, you may be forced to sell your new home and move into an assisted living center. If you choose to stay, you will have to foot the bill for at-home care or recruit friends and family for assistance.

These are obviously not your only choices during retirement, but they are the most common and will most likely pop up on your radar at some point. Don’t make the decision in haste, and make a point to get to know the pros and cons of each before you declare your intentions.

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