2018 Senior Housing Trend – Elder Co-Housing
One of the newest trends in senior housing is “aging with your friends” 🙂 – better known as elder co-housing. Elder co-housing is like opting-in to a housing community of sorts, except in this model, it’s with your friends!
If you’re a boomer or senior, you’ve probably heard the term Aging In Place. It’s used to describe a preference many older adults have, for wanting to stay in their own homes as long as possible. Aging In Place is best achieved with certain adaptations in the home that make it a safer environment for the aging adult or couple.
Shared Duties and Responsibilities
In the elder co-housing environment, members of the home (or homes in many cases) share in the day-to-day activities like cleaning, cooking, laundry, and other tasks. It’s community living at it’s heart, and each member of the tribe is expected to care for one another during the course of their time together.
Here’s an excerpt from a piece we did 8 years ago when we first noticed the “aging with your friends trend”:
Studies suggest that people remain healthier and may live more independently if they have strong community ties. Co-housing fits this prescription perfectly as each member of a co-housing project has duties and contributions they are expected to provide. – The Senior List on Elder Co-Housing, March 2010
The Senior List’s Amie Clark has been watching this trend for over a decade. “The idea of co-housing is not going away anytime soon” says Clark. “For both young and old this communal type living arrangement works, and it’s economical too.”
The Cost of Senior Care
Genworth Financial publishes an annual cost of care survey, and the 2017 results are startling. The median cost of receiving care in an assisted living facilities rose to $3,750 per month, and a private room in a nursing home will run you a staggering $8,121 per month!
As Assisted Living communities get more expensive, aging adults are going to be looking at creative options to age-in-place. Elder co-housing, or aging-with-your-friends might be just the ticket!