Senior Living Homes- An Alternate Investment Option With Attractive Long Term Benefits
Retirement is an important part of life, after all the hardships of the early years that we go through. Almost everyone saves up and plans for retirement during the early stages of their career. If you’re looking for investment options that can help for a peaceful retirement, considered senior living homes.
Senior Living Homes is the best place to spend your retirement, are also emerging as the best investment option that can help you make enough money for a happy retirement.
Here’s everything you need to know about Senior living and why you should consider investing in it.
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Senior living communities are special housing facilities for elderly people catering to their special needs These communities along with providing all the amenities that are required for leading an independent life, also provide health care units for emergencies. This way aging people can live secure lives with all needed facilities and medical care without having to depend on anyone
As people get older their needs change as their mental and physical abilities change, and often suffer from some or the other medical issues. Keeping in mind these challenges, communities were conceptualized to bring in all the necessities and needs of the elderly people in one place so that they don’t have to take the pain of going out or traveling to meet doctors for medical consultations.
Senior living facilities provide live care for elderly people with on-site health care services, in-house nurses and doctors. Along with the medical care units, all other amenities like parks, malls, and retail stores are present in these communities just like any other community.
Different Levels Of Care Available In Senior Living
Aged people who are in their early ’60s are younger than the people in the’80s and the care both of them require differs from person to person and age to age. Seniors in the ‘80s obviously need more intense care than others. Hence these communities also have subgroups based on the age and care they need.
|Independent Living||Elderly people who are active and healthy without any major health issues|
|Assisted Living Spaces||Elderly people who need some help and assistance to manage everyday activities.|
|Skilled or Nursing Care||Elderly people with serious medical issues who need continuous monitoring and care|
Why are Senior Living Communities Popular?
The increasing rate of the aged population across the world is the main reason that has given rise to the ideation and popularity of the Senior housing communities. With the increasing standard of living around the world with modern hospitality industries and the help of technology in treating diseases, the average lifespan of humans is increasing.
Retirement homes with almost hostel-style amenities and no space for recreation and activities are not very appealing to many elderly who don’t want to miss the homely feeling. Senior housing communities provide everything that these communities lack and in fact re-conceptualized the elderly lifestyle.
In developed countries like the USA and Japan where the population of old people is more these communities are already a famous housing segment. According to a report of JLL, the population of seniors across the world is projected to become 1.3 billion by 2040. Also by 2021, the number of seniors will grow past the population of kids below five years for the first time in history.
This projects a huge need and demand for elderly communities.
Demand for Senior living in India
The demand for senior housing in India is drastically increasing. Many major players and developers are going to be seen venturing into this sector of Real Estate very soon.
A JLL report confirms that there are currently 98 million elderly people in India which is going to become 240 million by 2050. The 60% of the youth of the country currently is going to be a major population of old people in the next 30 years.
With an increasing literacy rate most aged citizens are educated and prefer a peaceful retirement. The younger generation who are inclined towards cities and foreign countries are finding it hard to leave their parents alone by themselves Also, the unpredictable health of the elderly can cause trouble when alone, so most people are considering Senior living as a solution to these problems.
Pandemic Impact on Senior living
Outbreaks of pandemics like Coronavirus are the most effective on elderly people. That’s the reason old people across the world are given strict instructions to not step a foot outside the house.
In older age due to decreasing immunity causes higher vulnerability towards exposure to any kind of viruses. During the lockdown period, many aged people whose children are away are finding it hard to sustain. Daily Activities, like buying groceries or consulting a doctor by themselves, have become the most challenging tasks.
The pandemic outbreak has definitely brought into light the dire need of more senior living communities where seniors can safely live under medical security during conditions like these.
There’s a huge need and demand for these senior living communities in India and the need is further amplified in the wake of COVID-19.
What makes Senior living Homes an attractive alternative for investment?
In the current market scenario, there’s a huge demand for Senior living Investment not only in India but worldwide. The number of elderly people worldwide is only set to increase until the next 2 or 3 decades or farther. This establishes the dire need for more senior living housing communities and products to meet the needs, and of course, these projects need investment.
The future market seems to be stable for senior living products. An added advantage of the investment being the long term tackles the risk factor of the investment. Senior living investment is also more lucrative than any other Real Estate investment with higher returns. These also remain stable and don’t respond much to economic slowdowns.
Another perk, if you are nearing retirement, would be to fund your own Senior living house for a smooth after retirement life. This way you’ll get to enjoy your own investment in the best way.
With a global need for decent housing communities for older people and the drastic increase in the aged population, the need for senior living is very high. Being a stable, well yielding module of investing these communities have become investor-friendly. If not for investment purposes even as a part of after retirement planning these modules are lucrative both ways.
If looking for stable and safe investment opportunities with good returns senior living investment is the way to go.
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Senior Living Homes FAQ's:
Assisted living is a very attractive investment option. These are long term investments usually and provide stable passive income along with a good appreciation of capital.
Senior living homes provide special care and maintenance services for elderly people. These communities usually have an in-house doctor and staff available at all times. Because of all the services provided and amenities available, these communities are on the expensive side.
There is no specific age limit for a person to live in a senior living community. Anyone in the early ’50s to late ’80s or ’90s can live in these communities.
Senior housing communities have special services catering to the needs of elderly people. From an in-house hospital, doctors, and nurses to 24/7 available ICU units these communities have dedicated health services alt all times. Along with these services like providing meals, laundry, cleaning, and maintenance are also provided in these communities.
Senior living communities offer different levels of care based on the health conditions of elderly people. Elders who are healthy and can lead life independent life will be allowed Independent living. People who have a medical history and need to have assistance will have assisted living facilities, others who have major health issues and need 24/7 care will be provided care by skilled nurses.