If you are a member of the ageing generation, you are probably facing many issues about your future. Investments, healthcare and creating a legacy may be things that you consider. However, at the top of the list is where you will live.
You are not alone; this is an issue that is facing society as well, as the ageing population is quickly becoming one of the largest populations in our communities. The need for housing for the ageing population is estimated at around 18,000 new homes per year to meet the growing need. This suggests that there may not be enough residences to go around. We really need to ask, are we prepared?
This housing crunch may be a great opportunity for developers, and plans to develop senior housing are being put in place. However, there are questions that you need to address if you are in this population. Do you want to continue living in your current residence? Would you rather downsize? If you downsize, are there enough housing options from which you can choose?
Many of you own your own home, large or small, on a plot of land, also large or small. Your home was likely purchased before the housing crisis, so you are probably sitting on a valuable investment. You may have more land or a bigger house than you need, and want to find a place that is smaller and easier to care for. You might be thinking that it would be wise to sell your home, downsize and invest the proceeds in your retirement.
You may want to relocate to a different type of community, such as a small village, or a place by the sea, or somewhere closer to your family. You may want to live with a senior community, with planned activities and services. There are also those of you who simply need the care and attention of medical and social personnel as you grow older.
There is a continuum of care in housing to meet your needs. For those needing full-time assistance, nursing homes and care homes will provide you and your family with peace of mind. Residences such as MBi Social Care provide round-the-clock services to individuals with dementia, or individuals facing the end of life. Run by Gavin Woodhouse, MBi is expanding its number of facilities to meet the growing need of the ageing population.
Nursing and care homes also exist for those needing full-time care for physical ailments. For seniors with fewer health needs, extra care housing provides communal facilities, domestic help and round-the-clock staffing. If you are still independent, retirement housing offers you a community of similarly situated people. There are a variety of options, from larger bungalows to smaller flats.
If you are facing the decision to stay in your current housing situation, or move on to something easier or just different, start exploring your options now. The market is tight, but there are some wonderful places that can become your new home.