Retirement homes are becoming increasingly popular. They offer a range of benefits including 24-hour care, meals, activities, and socializing. However, there are also downsides such as high costs and limited choice.
If you’re considering moving into a retirement home, this article will provide more information about the retirement home.
What Exactly Is Retirement Home?
A retirement home provides accommodation for people who need help with daily living or medical support. It’s usually located in an area where the residents can easily access services like shops, doctors’ surgeries, and banks.
The cost of staying at a retirement home varies depending on location, size, and type of facility. Some facilities have their own staff while others rely on volunteers to look after them.
Retirement homes are often run by charities or religious organizations. They may offer a range of services including meals, housekeeping, laundry, transport, and social activities.
Types of Retirement Homes
There are many different types of retirement homes available. Here we’ll take a closer look at some of the most common options:
Independent Living Facilities
These are generally smaller than other types of retirement homes. Residents typically live independently but they do receive assistance from trained professionals when needed. ILF facilities tend to be less expensive than larger ones.
Assisted Living Facilities
ALFs combine independent living with assisted living. This means that residents still retain control over their lives but they get additional help around the clock. The level of assistance provided depends on what kind of service package has been purchased.
Nursing Care Facilities
Nursing care facilities focus solely on providing nursing care. There are two main categories of nursing care facilities: long-term and short-term. LTC facilities cater mainly to older adults who require ongoing skilled nursing care. STC facilities are designed specifically for those recovering from illness or surgery.
Respite Care Facilities
Respite care facilities allow families time off work so they can spend quality family time together without worrying about looking after elderly relatives. Most respite care facilities only accept one person per room. If your relative needs round-the-clock care then it might not be suitable for him/her to stay here.
Benefits Of Living In A Retirement Home
There are many reasons why someone would choose to live in a retirement home instead of continuing to live independently. Here are some of the main advantages:
Residents don’t have to worry about getting up early every morning because they know that somebody else will be looking after them. This means that they won’t feel lonely or isolated from other people.
Meals And Activities
Most retirement homes include regular meal times and organized activities so that residents get out of the house regularly. These could include trips to local parks, museums, and cinemas.
Many retirement homes allow residents to meet new friends through shared interests and hobbies. For example, if your friend likes gardening then he/she may enjoy going outside together to plant flowers.
Costs Are Lower Than Independent Living Facilities
The average monthly rent for independent living facilities is around $1,000 per month. On the other hand, most retirement homes charge between $400-$600 per week.
Downside To Retiring Homes
Although retirement homes do come with lots of benefits, it doesn’t mean that they’re always perfect places to stay. There are several disadvantages associated with retiring homes that make them less appealing than independent living options.
Although retirement homes tend to be cheaper than independent living facilities, they still require significant investment. If you want to move into one but aren’t sure how much money you’ll need, speak to financial advisers before making any decisions.
Because retirement homes cater specifically towards older adults, they often lack variety when compared to independent living facilities. You might not find anything suitable near your current residence.
Lack Of Privacy
While retirement homes give you peace of mind knowing that somebody else is taking care of you, they don’t necessarily protect your privacy. Your neighbors may see you leaving the building each day and wonder what you’re doing inside.
Isolation From Family & Friends
As mentioned above, retirement homes provide 24-hour care. However, this also makes it harder for family members to visit without being seen by the person receiving assistance.
How To Choose A Retirement Home?
When choosing where to retire, there’s no right answer as everyone has different priorities. The following tips should help you decide whether an assisted living facility is best suited to your situation:
Consider What Type Of Assistance Is Needed
If you think that your loved ones will need constant supervision, then moving into a retirement home might be ideal. Alternatively, if you’d prefer to continue living on your own while having access to extra support at certain times, then an independent living option might suit you better.
Think About How Much Money Will Be Required
Retirement homes can cost anywhere between $200-800 per week depending on location and amenities offered. It’s important to consider these costs in advance so that you don’t end up spending more than necessary.
Look At Other Options Before Making Any Decisions
Before committing yourself to a particular type of accommodation, take time to look at all available choices. Speak to potential providers and ask questions such as “What services does my chosen provider offer?”
Retirement Home vs Nursing Home
A nursing home provides round-the-clock medical attention. This means that residents have immediate access to doctors and nurses who can treat their health problems. In contrast, retirement homes only offer limited healthcare services. They typically focus on providing social interaction rather than physical care.
Retirement Home vs Assisted Living
An assisted living facility offers both residential and non-residential services. Residents receive personalized care from staff who live within the same community. On top of this, some facilities even include activities like cooking classes or exercise sessions.
Assisted living facilities usually charge higher fees than retirement homes because they aim to accommodate people with varying needs. As a result, many retirees choose to remain in their existing residences instead of moving into an assisted living facility.
The Bottom Line
There are many advantages to retirement homes. But like everything else, they come with some drawbacks too. Make sure that you weigh up the pros and cons carefully before deciding where to live after retirement.