Five Reasons Adults Prefer Independent Senior Living to Homeownership

When an individual reaches a certain stage of life, homeownership may no longer make sense. They may have more time to spend with family and friends, which makes being in a large home less important. Maintenance costs can be expensive in an older home. If the person desires support with daily tasks but wants to still maintain their independence, senior living is a viable option. The following explores the benefits of living in a retirement community and outlines five reasons why it is advantageous to homeownership.

1. Access to a Community

Loneliness takes a toll on mental and physical health. According to the Rush Institute for Healthy Aging, there is a direct correlation between isolation and the development of Alzheimer’s disease. In fact, the risk of developing Alzheimer’s almost doubles in isolated adults. Further, a Brigham Young University study found that loneliness was just as deadly as obesity or smoking.

Unfortunately, isolation is inevitable if an older adult lives alone. Friends and family may be hours away or lack the time to visit regularly. A supportive living environment can help by providing opportunities to socialize. Residents can chat during mealtimes or over afternoon coffee. These communities also develop innovative programming for residents. In addition to regular on- and off-site events, independent senior living communities provide a wide array of enrichment programs. Residents can take a strength training class, learn how to paint, join a book club, or help make decisions as a member of the resident board.

2. Access to Amenities

Does your friend or family member love to play bridge? Or would they prefer to discuss literature with friends? How about take a geology class? No matter a person’s interests, supportive living environments provide amenities to match. Many communities offer club rooms, computer rooms, gyms, arts and crafts rooms, rooftop gardens, and more. At Terwilliger Plaza, we even have an on-site woodshop.

Dining is another benefit of living in a retirement community. Many communities have restaurant-style kitchens with trained chefs and bakers. Rather than cook each and every meal, residents can stop by for breakfast, lunch, and dinner. Some supportive living environments also offer weekly happy hours with hand-crafted cocktails. Whereas an individual living alone would have to travel to a high-end restaurant for such cuisine, residents of independent senior living communities just have to walk down the hall.

3. No Upkeep

Homeownership can be stressful for individuals who are physically unable to do the work to keep their house from falling into disrepair. Something as simple as changing a light bulb can be challenging for an individual with mobility issues. But keeping pace with a home requires elbow grease. The lawn needs to be mowed, the gutters cleaned, and the carpets vacuumed. Outside help could be hired; however, this is expensive.

At an independent senior living community, residents never have to worry about leaky faucets, failing septics, or busted appliances. Many communities also offer housekeeping services, ensuring that resident rooms stay clean, tidy, and free of tripping hazards. Letting go of the day-to-day responsibilities of homeownership can be liberating for many individuals.

4. Simplified Living and Finances

Living alone can be taxing. An individual must juggle monthly bills like their mortgage, water, power, and cable. Money management can be overwhelming for us all, but especially for older adults. According to the National Council on Aging, one-third of senior households have no money left over each month or are going into debt to meet recurring expenses.

In a retirement community, your family member or friend will enjoy simplified finances. The cost of services—from rent to garbage removal—will be streamlined, making budgeting more understandable. As part of their monthly fees, they will receive utilities, laundry services, housekeeping, emergency services, and more. In short, what once involved many separate payments is now bundled into one singular fee.

5. Safety and Security

According to the National Council on Aging, falls result in more than 2.8 million emergency department injuries annually. The best way to prevent slip and fall accidents is by altering a home. These changes can include grab bars in the bathroom or railings along a hallway. Unfortunately, renovations can be simply impossible because of a home’s layout.

If they are possible, they are often expensive. As suggested by RetirementLiving.com, the average cost to install a walk-in tub or shower is $5,000. The average cost to adjust the height of countertops, making food preparation easier for individuals in wheelchairs, is $18,000. All this to say, aging in place (remaining at home as you get older) can be financially taxing.

Thankfully, independent senior living environments are already designed with safety and security in mind. These communities are equipped with fire alarms, around-the-clock security services, and security cameras. Resident rooms and communal spaces also feature handrails, wide doorways, slip-resistant flooring, and wheelchair ramps.

Your Next Step with Terwilliger Plaza

If you now see the benefits of living in a retirement community and would like to find the right fit for your family member or friend, consider the many amenities and services offered at Parkview at Terwilliger Plaza. As a member of this community, your family member or friend will gain access to a wide variety of lessons, classes, and social gatherings, not to mention a beautiful apartment of their own.

In addition, our community stands above others because of our commitment to self-governance. Our motto is independence is every day. We believe our Members have a right to vote on what services we offer. We also believe they deserve input in our day-to-day operations. Our board members are elected by the Members they represent. Terwilliger Plaza is sure to give your family member or friend the independence they desire while offering many amenities, activities, and security services that are impossible to duplicate in homeownership. Contact us today to learn more.