Retirement years can bring various challenges for seniors, especially when they have to manage the cost of living on a fixed income in a normal house. So, a wise alternative is to move into senior apartments. There are many options to choose from when considering apartments for seniors, including those in senior communities, private spaces, and the ones that are government-subsidized. However, before opting for senior apartments, it is important to consider various factors carefully.
Apartments in senior living communities
Various housing communities these days cater to the specific requirements of older adults. These communities, called senior living communities, comprise various types of living facilities, including apartments that seniors can purchase or rent.
There are primarily two types of senior living communities: the first option caters to seniors who are 55 and above, and the second for seniors who are 62 and above. Both 55+ senior communities and 62+ senior communities have apartments offering multiple amenities.
Normally, apartments available in senior living communities come in three options. But it is important to note that not all senior living communities might offer all three types of apartments. One may find a specific type of apartment based on the kind of community one chooses and the pricing structure they offer.
1. Affordable senior living apartments
Seniors who have low incomes can qualify for affordable apartments in senior communities. Often, their eligibility to avail of such spaces is determined by considering the area median income (AMI). Affordable housing programs often use this metric to determine the income distribution in a specific area.
Rent prices in affordable senior living apartments are usually lower than the market rate. Along with a low income, factors such as the seniors’ family size will also be considered when evaluating their eligibility for affordable apartments. One must also note that with a lower rent, these apartments may have limited on-site amenities.
2. Market-rate senior apartments
These apartments are the ones that have rent set as per the market rates. Plus, these apartments are open to seniors without any restrictions regarding income. This alternative suits older adults who fail to meet eligibility requirements for subsidized housing but still prefer to live in an apartment designed for seniors over 60.
3. Luxury apartments
These come with high rent prices; however, despite the high rent, they also come with various premium features and facilities. For instance, many luxury apartments for seniors are as big as 2000 square feet. Such spaces are commonly found in gated communities, meaning they offer a higher level of security and privacy. These communities also offer exclusive amenities like private parks and walking trails.
4. Other options and their living arrangements
Besides these, senior living communities can also offer apartments that vary in terms of size, including studio apartments, one-bedroom spaces, and two-bedroom apartments, among others. Based on their requirements, seniors can also choose to either live in an apartment independently or share the space with another resident. Shared apartments often follow a suite-style living system, meaning the residents can have a bedroom to themselves while sharing the common kitchen and bathroom with the other occupant. Choosing independent apartments can provide a sense of freedom for those who are newly moving into senior living facilities.
Benefits of senior living communities
Regardless of the kind of apartment chosen, living in a senior community offers various benefits for older adults.
1. Access to basic services
Most senior living communities offer a lot of perks to the residents, including basic services that simplify daily living, such as landscape maintenance, laundry services, housekeeping, and meal preparations. Such services can benefit seniors with mobility issues that affect their ability to perform daily activities.
2. Assisted living and care options
Seniors who require assistance with their daily activities can choose to live in an assisted living apartment. Here, they can receive personalized assistance with tasks like eating, bathing, dressing, and grooming.
3. Recreational spaces
At senior living communities, residents also have access to recreational spaces, such as libraries, games rooms, and TV rooms.
4. No extra cost of utilities
The rent that one pays for senior apartments in these communities is all-inclusive of taxes and utility bills. So residents do not need to worry about paying extra for electricity and water.
Subsidized apartments for seniors
These public housing spaces are offered by the Department of Housing and Urban Development (HUD). These apartments have subsidized rents, which is usually around 30% of one’s income, making them suitable for seniors looking for low-rent housing. But one would first need to check if they are eligible for these apartments. HUD-sponsored apartments also have senior-friendly features and amenities, such as ramps, bathroom handrails, cleaning services, and transportation services.
Privately owned apartments
One can also consider renting privately owned apartments for seniors. Since these are private apartments, they might have rent prices set as per the market. But for seniors’ convenience, such spaces often come with basic amenities that make it easier for them to live. These include wider doors and fewer stairs, ensuring a low risk of falls and other injuries.
