Retirement homes, particularly those catering to senior citizens, have witnessed a rise over the last few years in India. In fact, there are over 30-40 senior living complexes dotted across all the major metropolises around the country right now. While Bangalore and Pune have been the most notable markets in this part of the housing sector, other cities like Chennai, Hyderabad, and NCR are also making appreciable gains.
A lot of these senior living projects offer a wide range of facilities. But here are the 5 basic things every retirement complex must have.
Does it offer medical care?
When you’ve reached the age of retirement, you might not be able to remain the free-spirited, adventurous individual that you’re now. There’s no telling when you or your spouse might be in need of medical attention. So, checking whether a retirement home offers basic healthcare services should top your list of priorities. If it doesn’t, you should consider looking for another property with adequate medical facilities.
What is the age limit?
Usually, all retirement homes require their owners to be at least 55 years of age or higher, while the spouse’s age can be a little lower. Find out if there’s an age limit levied on the property you’re considering; because if you plan to retire at 40, you shouldn’t have to wait for the next 15 years to occupy your property. Also, figure out the builder’s policy on visiting children and grandchildren.
What are the costs?
Typically, a retirement home is more expensive than normal residential projects. It’s most likely to cost 10-25% more than a regular property. This is because retirement housing projects usually come with services like medical care units, wheelchair-accessible platforms, grocery stores, and other such essential facilities.
Do they provide assisted living services?
As you grow older you slowly lose your strength and agility, which will impact your basic day-to-day duties. This is why you need to find out if a potential retirement home offers assisted living services. Basic services that you should watch out for are housekeeping, transportation, nursing care, and a doctor-on-call.
Can you get continued community care?
This aspect is similar to assisted living but provides a much higher level of satisfaction. Growing old doesn’t mean you cannot enjoy your life or that you’ll need to stay inside your house all the time. A continued community care service allows you to live a comfortable and fulfilling life by offering services like catering, home maintenance, and basic age-appropriate recreational facilities.
Keep the above checklist in mind when you’re looking at a retirement home so that you invest in the right property for your golden years. If you’re applying for a Home Loan to buy a retirement house, first check your eligibility to get a clear idea of your home loan repayment capability and the cost of the loan.
A lot of these senior living projects offer a wide range of facilities. But here are the 5 basic things every retirement complex must have.
Does it offer medical care?
When you’ve reached the age of retirement, you might not be able to remain the free-spirited, adventurous individual that you’re now. There’s no telling when you or your spouse might be in need of medical attention. So, checking whether a retirement home offers basic healthcare services should top your list of priorities. If it doesn’t, you should consider looking for another property with adequate medical facilities.
What is the age limit?
Usually, all retirement homes require their owners to be at least 55 years of age or higher, while the spouse’s age can be a little lower. Find out if there’s an age limit levied on the property you’re considering; because if you plan to retire at 40, you shouldn’t have to wait for the next 15 years to occupy your property. Also, figure out the builder’s policy on visiting children and grandchildren.
What are the costs?
Typically, a retirement home is more expensive than normal residential projects. It’s most likely to cost 10-25% more than a regular property. This is because retirement housing projects usually come with services like medical care units, wheelchair-accessible platforms, grocery stores, and other such essential facilities.
Do they provide assisted living services?
As you grow older you slowly lose your strength and agility, which will impact your basic day-to-day duties. This is why you need to find out if a potential retirement home offers assisted living services. Basic services that you should watch out for are housekeeping, transportation, nursing care, and a doctor-on-call.
Can you get continued community care?
This aspect is similar to assisted living but provides a much higher level of satisfaction. Growing old doesn’t mean you cannot enjoy your life or that you’ll need to stay inside your house all the time. A continued community care service allows you to live a comfortable and fulfilling life by offering services like catering, home maintenance, and basic age-appropriate recreational facilities.
Keep the above checklist in mind when you’re looking at a retirement home so that you invest in the right property for your golden years. If you’re applying for a Home Loan to buy a retirement house, first check your eligibility to get a clear idea of your home loan repayment capability and the cost of the loan.