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This is a collaborative post. All opinions are my own.
A lot of attention is given to millennials, but the Baby Boomer generation is still the second largest generation living in America. As they get older, retire, and look for new living situations, it's bound to have an impact on the housing market. Demand for senior-friendly housing is steeply increasing, and real estate investors might be wise to seek out houses or apartments to flip, renovate, or keep as rentals...with the senior demographic specifically in mind. Senior housing (usually with a minimum age requirement of 55) is split into three main types of senior care: Independent Living, Assisted Living, and Skilled Nursing Care.
Independent Living
Most seniors still want to enjoy an active and social lifestyle. They want to maintain their independence and take care of themselves. But they might want to decrease the time they put into caring for their house and yard. After all, both of those might be bigger than they need or can fully enjoy anymore...and home maintenance isn't exactly what they dreamed of doing in retirement. Independent Living facilties can fulfill those needs by giving them a home that's smaller and easier to maintain. They're often in a convenient and desirable location near walking trails, parks, and an urban area with coffee shops and restaurants. Some facilities even provide on-site care options such as laundry collection and cleaning. And many include areas for residents to pursue their hobbies, such as woodshops and craft rooms.
Assisted Living
When seniors need more complex care, assisted living communities can still provide residents with the freedom of independent living, along with the added reassurance of skilled nursing care. Some of the services included are grooming, cleaning, hygiene assistance and medication administration. Most assisted living spaces are self-contained apartments, but they shouldn't be stark and depressing spaces. Thoughtful design that meets the needs of residents, but still looks updated and beautiful, will help seniors in assisted living homes feel dignified, comfortable, and proud when visitors come.
Skilled Nursing Care
This type of facility is for elderly people who really need the extra help and support. They typically offer around the clock care from licensed professionals. With the skills and knowledge to care for seniors who require advanced medical treatment, Skilled Nursing Care facilities are designed to keep your loved ones safe and comfortable during what might be a distressing and vulnerable time for them. Here, it's also important for them to feel at home, with rooms that have beautiful decor and art rather than clinically stark rooms that are reminiscent of a hospital.
Seniors might need a one-level home instead of lots of stairs, or they might favor a walk-in shower instead of a tub they have to climb over every day...but they don't want a place that screams "I'm old!" With thoughtful design that meets their needs and looks updated and homey, you can definitely set your place apart.