Top 3 Choices for Living Out Your Golden Years
Posted by Alex Narodny on Tuesday, February 8th, 2022 at 11:32am
Older seniors have several living options when they find themselves experiencing mobility issues. They can do a bit of home remodeling and stay put or move to a retirement community or assisted living. To help you decide which option is the best for you, Marin Real Estate takes a closer look at each one.
1. Modify Your Home and Age in Place
Aging in place is a great option for those who love their house and neighborhood. However, AssistedLiving.org notes that home modifications are often necessary to resolve mobility issues. Typical changes are:
- Convert bathtubs to walk-in showers
- Add safety bars and strips to the shower enclosure
- Install shorter-nap carpets in living areas
- Implement smart home technology to monitor for activity and falls
- Transition to motion-activated lighting in bathrooms
- Purchase lift seats for couches and chairs to help with standing
Whenever more help is needed, in-home services can be arranged to provide the necessary care.
The advantages to this option are:
- Staying in familiar surroundings
- Keeping your independence
- Saving money over the other choices
Next Avenue explains that the disadvantages include keeping up with home maintenance and repairs, feeling isolated when you no longer drive and having to move later if your physical or mental health declines.
2. Buy a Home in an Active Adult Community
If the idea of purchasing a senior-friendly home in an active adult community appeals to you, the sale of your house could make it affordable for you. Contact an experienced local real estate agency like Marin Real Estate to learn what similar homes are selling for in today's housing market, how much a home in the senior community of your choice costs and what the average down payment would be. Investigate the price of moving to a smaller home. If you have a high amount of equity in your current home or you decide to downsize, your home sale could provide the cash you need to buy your retirement home with cash.
Beyond living in a home designed for seniors, there are lots of advantages to an active adult community, including:
- Having home and lawn maintenance provided
- Enjoying amenities, such as swimming pools, fitness centers, golf courses, restaurants and clubhouses
- Maintaining a social life with other retirees
- Enjoying on-site activities and events
- Retaining the financial and tax benefits of homeownership
The downsides are feeling cramped in a smaller home, dealing with a restrictive homeowners' association with high monthly fees and missing having young families or adults in the neighborhood.
3. Transition to an Assisted Living Facility
Assisted living is the best choice for those who struggle with the daily living activities of cooking, bathing, eating, dressing, walking or continence. There are various options, from luxury facilities with private accommodations and amenities to smaller buildings with basic services and semi-private rooms. According to a recent Genworth cost of care survey, the current average cost of assisted living is $4,500 per month.
The pros of assisted living are getting the extra care you need in a safe environment with meals provided for you and activities to keep you mentally sharp and socially active with others. The cons are the expense, lack of privacy and trouble adjusting to life in a group setting.
Modifying your home to age in place, moving to a senior community or transitioning to assisted living are all options for you in retirement when mobility becomes an issue. The right choice for you is the one that keeps you safe and happy in your golden years.
Photo courtesy of Unsplash
Karin and Alex Narodny of Marin Real Estate bring more than 60 years of combined experience to their clients and they actively train and mentor a large part of the Marin Realtor population. Reach out today and find out why 99% of clients say they would come back to the Narodnys to buy their next home! 415.847.0309 or 415.265.7488
Leave A Comment