Real Estate

Residential life of independent verses

Senior apartments, independent living communities, and assisted living facilities are classified as nursing homes, where services may include room, board, supervision, and assistance in daily living, such as cleaning.

In general, the occupancy rate of senior housing facilities has been growing steadily for the last five years. In the second quarter of 2015, the average occupancy rate for both independent living facilities and assisted living facilities averaged 89.0%, according to the National Investment Center for the Senior Housing and Care Industry. Occupancy rates showed an improvement in 2016 compared to previous years, suggesting that the recovery will remain stable.

Senior apartments are residences that are legally restricted to people over the age of 55, do not require a license, and are often income restricted. They are similar in layout to “family” complexes, except they generally have elevators, interior corridors, more common areas, and only one- and two-bedroom floor plans.

Senior apartments do not have central kitchen facilities and do not typically provide meals for residents, but may offer community rooms, social activities, and other amenities.

The physical building of an Independent Living facility is quite different from a residential assisted living home. The shared space available depends on the community. Most independent living communities include smaller kitchens or offer communal dining in the dining room. The cost of the installation is reflected in the space and its designated use.

There are different types of independent living facilities, but the most common types for seniors are: senior apartments, low-income housing. Senior apartments are apartment complexes that are age restricted, generally 55+. Some senior apartments are converted private cottages or converted apartment complexes. Most senior living complexes are assembled or rebuilt from existing structures; handrails and pull cords are often incorporated as an added value for seniors. Some senior apartments provide community services such as recreation programs, transportation services, and meals in a shared dining room.

Assisted Living Residential Homes are perfect for seniors who need help with (ADL) activities of daily living. Assisted living homes provide better quality care to their residents; because the ratio of nurses to residents is substantially lower than in an institutionalized facility.

The monthly cost of senior care communities can range from $7,000 and up, depending on the level of care. The cost of residential assisted living homes also depends on the level of care and can range from $3,000 to $5,000.

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