Senior Apartments Offer Another Option for Retirement Living

Senior Apartments Offer Another Option for Retirement Living

Senior apartments beckon seniors who have lived a lifetime in their own homes. The recent housing slump could not come at a worse time for seniors who are trying to make changes. Two years ago it was easy to sell your home and bank the money and then purchase a smaller home. Today seniors are often stuck. If they have a large home to sell in order to downsize in retirement, it takes longer and, depending on their local conditions, they may have to reduce their asking price to get sold. In some areas, they must wait a long time to sell and be able to move. Once sold, many wonder if they want to purchase again and will consider renting.

Recently you hear more people talking about how they have sold their homes and are now renting. If you have owned your own home for many years, this is a hard mental transition to make and yet many are. Renting may be a less expensive option and offer more freedom. Rentals at retirement communities are in great demand and senior apartment communities report their communities rapidly fill up.

When you get older, your lifestyle changes. If you are truly retired, and in good health, as many boomers are, you may spend a lot of time traveling, not hanging around the house. And, most of all, boomers don’t want to spend their retirement on yard work and house maintenance. Some types of rental communities also offer assisted living and continuing care services as well.

There are many options today if seniors want to rent. Renting from an owner at a retirement community is an option. Every retirement community has owners who travel occasionally or spend winters away and need to rent their homes for short or long-term. They are easy to find through an on-site real estate office, the community clubhouse bulletin board or association, the community newspaper, local senior newspapers and local Realtors. At one community I know there is a bulletin board in the clubhouse where people post their rentals for free and you can contact the owners directly.

Another option is senior apartments. These are like any apartment community except it is designated for seniors. At these communities, services designed for seniors are available. In the monthly rental fee, there may be options for housekeeping, meals, and transportation. You live an independent lifestyle coming and going as you please. What these communities offer is a quieter environment, often security gates, senior companionship, activities geared toward seniors and sometimes special amenities such as a pool and fitness center. The surroundings can be very plain with a few amenities or sumptuous resorts with concierges offering every type of service, gourmet meals, in-house beauty salons and spas offering massage, chauffeured cars to take you to the beach, shopping and restaurants, and help you dress if needed.

Another type of senior housing that is becoming very popular is an amenity-rich rental community that offers assisted living or continuing care options should you ever need it. Just one of many examples is Erickson communities. Recently they had a delegation from China tour their facilities in order to see the services offered to build retirement communities like this in their own country. Their model is a large community where seniors rent for a specified monthly fee, in addition to an entrance deposit based on the size of their apartment home, and, in turn, receive outstanding amenities and services usually geared to keeping you healthy.

Their communities offer unique features such as outdoor enclosed hallways that connect from residences to amenities so that seniors don’t have to go out in inclement weather to take a walk or eat in their restaurants, and a medical office on-site available if you would like to take advantage of this service with your own medical file that also connects with their fitness center coach. They help you get around with their frequent shuttles, join in or not with their numerous clubs geared to what their residents want, abundant travel tours, and socialize by eating in their dining room. There is so much activity when you enter one of their communities one thinks purposefully geared to getting seniors out of their rooms to exercise and socialize.

Another rental option for retirement living is religious-based communities. Their mission statements usually state that they are centered on the individual, are open to everyone, and provide home-like atmospheres. Some are very affordable and include income-restricted or Section 8 rental apartments, although many are upscale as well. Most include assisted living or care options. Don’t think these are retirement homes in the old sense. These rental communities are on the band wagon with offering wellness programs, fitness equipment and cutting-edge activities. They are also expanding to help relieve the pressures of an increasing senior population.

So if you are thinking of renting, today’s baby boomers have some nice options in senior apartments, villas and homes. To read my review of an apartment community or for listings of senior rental communities, see my website http://www.bestguide-retirementcommunities.com/seniorapartments.html

Carol Fena, Realtor and Webmaster for http://www.bestguide-retirementcommunities.com