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Key Steps for Seniors When Selling a Home Part 2 – Senior Housing Options

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Once you have decided that selling your home is the best option, one of the first things to consider is where you will move.  There are a number of options available to today’s seniors.  Let’s take a look at some of the choices:

Moving in with Family
Moving in with an adult child or grandchild can be a great way to stay connected and prevent feelings of isolation or loneliness.  It also ensures that someone is around to act as caregiver should health issues arise.

Garden Homes or Condos
Maintenance-free communities appeal to those who are looking to downsize and simplify their lives but don’t necessarily want to move into a 55+ only environment. These types of homes usually include outdoor patio space and/or a small lawn or garden area and are usually maintained by a neighborhood association.

Active Adult Communities
These are active adult housing additions or apartments which are age-restricted (usually either 55+ or 62+) and built around a core of services and amenities.  A governing body typically administers a set of covenants, codes, and restrictions to which property owners and renters are required to comply. Many include golf courses or lakes and include activity centers.

Independent Living Communities
Apartment-style communities which offer a variety of services ranging from meals, housekeeping, transportation, home maintenance, social activities, emergency alert systems, and 24hour staffing. Units are private, offered in a range of sizes and floor plans, and sometimes include attached or detached covered parking, balconies, or outdoor patios. Common spaces typically include fitness centers, pools, libraries, club rooms, theaters, and private dining rooms for resident use.

Assisted Living Communities
For individuals who need regular assistance with activities such as bathing, dressing, grooming, housekeeping, transportation, and medication monitoring in order to maximize autonomy and independence. Residents have access to in-house amenities such as salons, spas swimming pools, private dining areas, theaters, and club rooms. Meals are usually provided in a common dining area, and medical services are sometimes available.

Memory Care Communities
Devoted to residents diagnosed with Alzheimer’s or dementia, these residences provide extra care and security.  These communities typically offer pet therapy,
social activities, meals, medication maintenance, housekeeping, caregiver
support services, and medical care in accordance with their licensing.

Continuing Care Communities (CCRC)
These communities offer independent older adults the ability to live on the same campus and transition within varying levels of care — as needed — until death.  Many require a significant entrance fee plus monthly lease payments.  Most contracts include a prorated portion of the entrance fee to be refunded, depending on the length of stay in the community. CCRCs usually require incoming residents to be able to live independently at the time of initial occupancy.  A physical exam and financial pre-qualification may be required.

If you’d like a guide to the housing options in the North Texas area, download our free Senior Living Options catalog or visit our directory of senior communities.

In our next installment we will look at some of the things to consider when deciding what housing option is right for you or your family member.

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