Statistics show that the majority of seniors prefer to stay in their own homes as they age. But for some this may not be the most practical solution. Factors such as health, safety, mobility, isolation, home maintenance or modification required, etc. may require the family to look for other options.

Housing options for seniors fall into a number of categories: aging in place, independent living communities, assisted living, board and care, skilled nursing and continuing care communities.

Independent living communities are targeted to seniors over 55 and may include single family homes, apartments and townhomes. These communities often have planned activities and minimal assistance with yard work or other maintenance needs. This option gives the senior independence and a sense of community while generally reducing the amount of home upkeep required.

Assisted living communities are an option for those who need assistance with their basic activities of daily living (ADLs) such as bathing, grooming, dressing, etc. These communities also have planned activities, transportation services and offer meals as part of the monthly “rent.” Often senior living communities will have an assisted living section where independent living residents move when they begin to need assistance with their ADLs. Assisted living communities differ from nursing homes in that they don’t offer complex medical services.

Many assisted living facilities have a special section focused on providing different levels of care for seniors with dementia. It’s important to note here that as the level of care increases, so does the cost of the facility.

Board and care homes are residences that offer housing and personal care services for from 3 to 16 residents. Board and care homes are private and residential, often in a converted or modified single-family home. Residents may share bedrooms or bathrooms, and meals and housekeeping are included. These homes are not certified by Medicaid, but are licensed and approved by the State.

Skilled nursing facilities are for older adults who require a higher level of care 24/7.
There are a number of things to consider as you determine the best housing option for your loved one. Their wishes, their health and mobility and, perhaps most importantly, their financial situation – what will their resources support and for how long?

One of the services I provide my clients is evaluating the options from a personalized financial perspective, and presenting various scenarios so they can make an informed decision in the best interests of their loved one. If you’re interested in learning more, please contact me.

Although most of us would agree that “there’s no place like home,” a housing option that’s the right fit for your senior can be the next best thing.