7 Ways Retirement Communities Make Life Better

What Is a Retirement Community?

Broadly speaking, retirement communities refer to any residential community or housing complex designed specifically for older adults who are able to care for themselves. Often called 55+ communities, these communities include senior apartments, townhomes, and condos.

Apart from age requirements for residents, retirement communities are not much different from any other neighborhood or apartment complex. Residents will likely have shared access to a variety of amenities, including pools, fitness centers, and gardens.

Some retirement communities, known as continuing care retirement communities (CCRCs), will even offer care services as needed. For example, if you move to a CCRC and, years later, require assistance with toileting and bathing, a CCRC can arrange those caregiving services within the community, preventing you from having to move to a dedicated assisted living facility.

1. Socialization and Community

Socialization is important as we age. A sense of community grounds us emotionally but also contributes to healthy mental functioning. The dangers of isolation among seniors (including depression) are well-documented, making socialization more significant than a simple lifestyle choice.

Retirement communities provide numerous opportunities to socialize with like-minded people of your generation, in the form of community centers, restaurants, or even simple interactions on the street. Yet, just like in your current home, you can choose to stay in if you prefer. You’ll never be forced to be with people if you don’t want to be.

2. Security

With over a million home invasions happening every year, it can be worrisome to own a home as you get older. Retirement communities can offer more security than a normal housing development, and often include guarded gates, on-site security, and even expedited emergency medical help.

Even something as simple as falling in the bathroom can be a big deal for a senior living alone. Knowing that your retirement community has services to help you in certain eventualities provides a priceless peace of mind.

3. Maintenance-Free Living

Maintaining your home and yard can become demanding or even dangerous as you get older. Retirement communities often shoulder the day-to-day burdens of maintenance for their residents by providing lawn care services, home maintenance providers, and more.

In many ways, living in a retirement community is like having the benefits of a landlord and the independence of owning a home at the same time.

4. Accessible Amenities

Retirement communities offer many amenities that can make your stay there feel like luxury living. Though the services offered differ between communities, they commonly include fitness centers, on-site internet service, swimming pools or gyms, beauty salons, and activity or entertainment areas.

If you’re looking to remain active, social, and relaxed in your retirement, check to see what amenities your retirement community candidates have on offer. You may be surprised to learn how many luxuries are available to residents.

5. Transportation

One amenity that warrants a separate mention is the transportation services offered by some retirement communities. Sometimes called “community transit,” these services offer transport to events, activities, or simple errands in the form of a shuttle system managed by the community.

For seniors with impaired mobility, these services can bring renewed independence to their living situation by ensuring safe transport to daily activities that simply can’t be guaranteed by ride-share services like Uber.

Even seniors who can still drive may take advantage of the service to run errands after dark or avoid busy traffic times for an extra level of reassurance.

6. Financial Benefits

The average home in a retirement community costs roughly $2,500 per month, while average living costs in a normal home come in at over $5,100 per month. Not all of the difference can be covered by a retirement community, since you’ll retain some of your normal expenses. However, these communities often allow seniors to save money by consolidating common monthly expenses such as lawn care, home repair, home insurance, and utility costs.

Additionally, some communities allow homeowners to keep the equity on their homes, just like in a normal housing situation, allowing them to recoup their investment if needed. Speak with a financial adviser about the terms of living in certain retirement communities to learn more about the potential financial benefits of making the move.

7. Caregiving (If Needed)

Continuing care retirement communities (CCRCs) can offer residents the benefits of assisted living care without eliminating the independence they might find living in a retirement community. CCRCs do this by putting residents on a sliding scale based on their care needs.

If you’re able to live independently, you can. However, this can change over time, at which point the community would offer services that match your needs, such as a live-in nurse, mobility assistance, or medication assistance.

You can even transition into housing that has more regular access to medical help within the CCRC, so that you never have to leave the community to receive care. This is one part of “escalated care,” a type of care model that changes how your living situation is managed at some retirement communities based on your specific needs.

Bottom Line

Retirement communities shouldn’t be mistaken for assisted living facilities or nursing homes, though many of them can offer care services on an as-needed basis. They offer seniors the chance to live comfortably and safely as they age, with access to many services that can’t be offered in a normal living situation.

Most importantly, they don’t come with a loss of independence. The services these communities offer are simply there to streamline the things you don’t want to do, so you can spend your retirement doing only the things you do.