As we get older, we start to appreciate not having to do some things. Cutting the grass, cleaning out the gutters, and handling the roof repairs is never easy. That is when senior living condos can help. These locations provide for many of the benefits to living on your own but they also provide some assistance in areas you may need it. Take a closer look at how they work and what they can offer to you.
What Are Senior Condos?
Senior living condos are much like living in a private home, with some help. There are a variety of styles available, each one offering different help than others. The key here is to consider how well these types of homes fit your unique needs right now.
Senior living condos often do not provide medical assistance. They also do not offer full time supervision. For this reason, they are not ideal for those who may have limited mobility or those who need help with medications, dressing, or toileting. Most often, these properties are structured to be like traditional condominiums or townhomes, with a separate entrance and exterior for every unit. Individuals can buy or rent their unit and use it how they would like to. A key benefit here, then, is that these condos are very private. You maintain all of your privacy without any concerns.
What condos do, though, is provide help for those harder tasks of running a home. This includes outdoor maintenance, upkeep of the property, and overall care of the property. The most basic options are meant to provide help to those who just need more assistance.
Senior Condo Options
There are several types of condo setups available. Each one operates in a different manner. Most local areas offer one or more of these options – keep in mind that terms and lifestyle needs change widely from one location to the next. Be sure to learn what the location offers specifically.
Perhaps you wish to retire and stop doing all of those chores. You want to buy or rent a home to live in, and you do not want to share that space with others. Retirement condos are often communities in which residents who are 55 and older are able to live. The condo or homeowners association will outline rules for using the property and living there. You will have to abide by these rules, of course, but most are designed to provide you with ample support. These are excellent options for those who are looking for a strong, local, and nearby social network.
Retirement condos typically provide for exterior maintenance. Most do not handle interior maintenance, cleanup, or patient care. They are truly homes to care for on your own. Some will also cover interior repairs and structural improvements. Read through the terms of living at any of these locations before making the decision to do so.
Assisted Living Condos
Assisted living condos are a step towards more help. In these locations, you may live in a semi-separate area, but you will have access to more help. For example, some locations allow you to live in a condominium setup, with one home next to the other. However, you have help that comes into your home and provides services to you. This may include services for cleaning, cooking, and laundry. Some offer medication help. Still, they do not provide ongoing supervision and they do not provide for the medical needs you may have. If you need medical help, you will need to turn to a medical assisted living facility or nursing home.
Apartments are similar to condos in that they are separate homes to live in. However, they tend to be located within the same building. Much like an apartment complex of any other type, senior apartments or senior apartment condos sit next to each other. They allow for a separate suite for each individual but remain close together. This makes them a bit more affordable and it provides less space in most cases.
Buying vs Renting
One of the key considerations for anyone planning to move into a senior condo is cost. Costs range widely and depend on the type of service provided, the location, the amenities, and other features. Senior condos can be bought or rented in most areas.
Senior Condos for Sale
Buying a condo offers all of the benefits of owning a home. Senior condos come with the same costs associated with homeownership including mortgages (unless purchased outright) and homeowners association fees. Most often, individuals are responsible for paying for utilities and other costs on their own.
Condos for sale are a good idea for those who plan to live in the area long term. They can be an investment because you will own them in most cases. Senior condos for sale are often purchased with a mortgage. They are not provided, in any way, by the government through Medicaid or Medicare.
Assisted living condos are also privately paid for in most cases. Some states allow for senior condos to be paid through Medicaid, but this is rare.
Senior Condos for Rent
Renting a senior condo is a more affordable option, but it comes with the drawback of not outright owning the property. For those who wish to rent, the good news is that costs range widely but tend to be rather affordable. Depending on where you live and the amenities you have onsite, you may find that renting is ideal because it takes less out of your pocket.
You can find condos to rent for seniors in most communities. Some are labeled 55 and over communities. Others are designed as assisted living locations. In these, you will rent out the portion from an assisted living community or provider. You will find that these are becoming more prevalent as the senior population ages.
Condos differ from one area to the next in size and structure. In addition, the types of services offered to seniors will change. This means seniors really need to get to know the provider, location, and the community to find out what is best for their specific needs.
Are There Senior Condos Near Me?
If you are looking to rent or buy a condo in a senior living community, we can help. You can use our senior living directory to search for senior condo communities near you. Our directory can be used to find senior condos and living communities across the nation. You can also call our senior helpline if you would like to talk to someone about your options. Let us help you find the best senior condo possible.