Navigating Your Housing Options: Considerations as You Age

Navigating Your Housing Options: Considerations as You Age

September 01, 2023

As we journey through life, our housing needs and preferences evolve, especially as we age. Whether you're planning for your retirement years or assisting a loved one in their golden years, it's crucial to understand the various housing options available and the factors to consider when making this important decision. In this blog post, we'll explore the housing options and considerations for seniors as they age.

  1. Aging in Place

Aging in place is a popular choice for many seniors who wish to remain in their current homes for as long as possible. This option allows individuals to maintain their independence and stay in familiar surroundings. However, there are important considerations to keep in mind:

  • Home modifications: Assess your home for necessary modifications, such as adding handrails, widening doorways, or installing ramps to improve accessibility and safety.
  • Support network: Ensure you have a reliable support system in place, including family, friends, or professional caregivers who can assist with daily tasks and provide companionship.
  • Healthcare access: Consider proximity to healthcare facilities, doctors, and pharmacies to ensure you can easily access medical services when needed.
  1. Retirement Communities

Retirement communities are designed to offer a more social and maintenance-free lifestyle for seniors. They come in various forms, including independent living communities, assisted living facilities, and continuing care retirement communities (CCRCs). Factors to consider include:

  • Amenities and services: Evaluate the amenities and services offered, such as dining options, fitness centers, housekeeping, and transportation.
  • Cost: Understand the financial aspects, including entrance fees, monthly fees, and any potential healthcare costs.
  • Future care needs: If considering a CCRC, ensure the facility can accommodate changing healthcare needs as you age.
  1. Assisted Living Facilities

Assisted living facilities provide a supportive environment for seniors who require help with daily activities but do not need extensive medical care. Key considerations include:

  • Staff qualifications: Research the qualifications and training of staff members to ensure they can provide the level of care you or your loved one needs.
  • Facility reputation: Check online reviews and ask for references to assess the reputation and quality of care provided.
  • Cost and insurance: Understand the costs involved and inquire about insurance coverage options.
  1. Skilled Nursing Facilities

Skilled nursing facilities, also known as nursing homes, are suitable for individuals with complex medical needs or those recovering from surgery or illness. Considerations include:

  • Licensing and certifications: Verify that the facility is licensed and certified to provide the necessary level of medical care.
  • Quality of care: Research the facility's history of regulatory compliance and any reported incidents.
  • Visiting policies: Understand the visiting policies, especially in light of potential restrictions due to unforeseen circumstances like a pandemic.

As you or your loved ones age, choosing the right housing option becomes increasingly important. Assessing your current and future needs, financial resources, and personal preferences is crucial in making an informed decision. Whether it's aging in place, joining a retirement community, moving to an assisted living facility, or seeking skilled nursing care, there is a suitable housing option to ensure a safe and fulfilling lifestyle in your golden years.

Consider using this free resource, The Hidden Cost of Aging, published by Franklin Templeton, and created in collaboration with The Center for Innovative Care in Aging at the Johns Hopkins University School of Medicine, to start the conversation with your spouse or your loved ones. We are here for you to be a sounding board and a value resource.