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A typical independent senior living community resident is a person 55 and older who is mentally and physically capable of living alone without skilled nursing or assistance with day-to-day activities. Some residents may need assistance with a few activities of daily living and can obtain third-party home health care services.
An age-restricted community is a residential community, often gated, that legally discriminates on the basis of age to limit residency to a majority fraction of older individuals—typically 80% over a set age. The minimum age is frequently set at 55 years old, but it can vary.
A retirement community is a residential community or housing complex designed for older adults who are generally able to care for themselves. Assistance from home care agencies is allowed in some communities, and activities and socialization opportunities are often provided. [ 1 ]
Even if you can afford to live in a 55-plus community, additional fees will have a way of eating into your retirement budget. For example, amenities can total roughly $200 a month, meaning an ...
As the country patiently waits for the housing market to rebound, older Americans are finding it more difficult to get approved for mortgages -- whether for new home purchases or refinancing. Even...
Though a growing industry, build-to-rent communities made up only 7.9% of new residential constructions last year.
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