The retirement years are intended as a time for relaxation and pursuing your favorite activities with people you love. Planning where to live in your retirement helps you choose a long-term option you can enjoy throughout your golden years. Here are the three best living arrangements available for senior adults.
1. Age in Place
A recent AARP survey revealed that 77% of adults over 50 want to stay in their homes long-term. This choice often involves some remodeling to create a senior-friendly home. Common age-in-place modifications include:
- Installing slip-resistant flooring
- Removing floor rugs
- Adding grab bars to the shower
- Replacing a bathtub with a walk-in tub
- Changing door knobs to door levers
- Installing easy-to-operate faucets
- Adding a security system
Installing a voice-prompted smart home device that includes a wearable medical alert bracelet also makes your home safer to live in as you get older.
2. Downsize to an Accessible Home
Another popular senior living choice is selling your home and moving into one that already has the features you need to age safely. Possibilities here include an active 55+ community, a condo, or an apartment.
If you choose to buy an “as is” property, make sure you do an inspection to learn exactly what possible issues you’re taking on. With this type of sale, the seller does not have to remedy any problems with the home. That means a leaky roof, pest infestation, and mildew or mold issues are yours to fix, along with any structural problems.
You can lower your moving expenses to your new home by researching local moving companies online that offer credits or deals. First, read each company’s reviews to make a list of possible movers for the job. Then, meet with each moving business to discuss your needs and get a quote for the move before deciding on the best company to hire.
3. Move into an Assisted Living Facility
The best choice for you could be a move into an assisted living facility. Prices for these communities vary widely depending on how luxurious the property is and the amenities offered. According to a recent care study by Genworth, for example, the average assisted living rate in Sarasota is $4,145 monthly for your room, utilities, three meals daily, and at least one daily personal service, such as medication management or bathing assistance.
Some locations may offer on-site nursing staff, weekly housekeeping, and laundry services. In addition, many assisted living communities also provide daily activities for social interaction and improvement of the physical or mental health of the residents. Decide what features you want in a facility and take a tour of your favorite possibilities to find the right location for you.
A skilled nursing facility is your best option if you need round-the-clock care for a medical issue. For example, according to Genworth, expect to pay around $100,000 annually in Florida for this type of care. Be sure to do advanced online research on pricing and payment options of nursing homes, along with facility reports and resident reviews.
A bit of thought and planning helps you decide which of these three retirement living options is your best choice. Florida, for example, is a popular state for retirees, and you will probably be are sure to find the right property for your needs.