Senior living communities are suited to:
- People whose families are settled outside the country or city. Retirement communities ward off the loneliness by providing them the much needed social interaction with like-minded people, in the same age group.
- People who would like to have an independent lifestyle and engage in recreational activities.
- Healthy and physically fit people can avail of greater benefits, especially in an independent housing system.
- Older adults who stay alone and desire greater security.
Thinking about senior living options? Whether you’re renting, leasing, or buying your dream retirement space, you deserve a place that brings companionship, care, and peace of mind. Monthly charges cover services like housekeeping, meals, and even club activities—no more loneliness or home chores! Subscribe to Seniors Ki Saathi your daily boost of emotional comfort for trusted tips, daily wellness, and scam-safe info—plus memory games, health updates and the Emotional SOS Keywords System to keep you mentally sharp and socially connected.
What are the costs associated with senior living housing? Can property be rented or resold?
The initial steps:
In the initial investment stage, you can choose from the following options:
- Direct purchase: You can buy the complete apartment for a lifetime
- Lease: The lease can be purchased for a set number of years at a cost lesser than that of outright purchase.
- Rent: You can move in the property on a rental basis
Curious about the options available? Read What Are Senior Living Homes?
Maintenance charges: These are monthly charges which residents have to pay. They cover all the additional services like home cleaning, society maintenance, water, maid/ caretaker, clubhouse and library use. The charges may be on square feet basis or on the types of services availed.
Resale and rent: These homes are for senior citizens only and sale or rental to a person who is not a senior citizen, is not permitted This restriction makes the properties relatively less liquid. However, in some companies, the builder takes upon the responsibility of resale and finding a tenant.
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