Retirement homes and assisted living centers are no longer the miserable accommodations of the past—no more stuffy buildings with single-room living quarters, bingo, and lousy food. Society, especially retired seniors, has modernized and become progressive, as have retirement communities. Many options are available to retirees today, and it’s essential to consider your options when deciding on the best living situation for you.
In recent years, independent living communities, aging in place, at-home care, and assisted living have gained traction, and even more specialized options have emerged. Here, we will explore five innovative living arrangements for seniors and discuss the pros and cons of each.
1. Co-housing Retirement Communities
In many ways, co-housing communities combine the best of both worlds. They emphasize easily accessible community areas that provide ample opportunity to connect with others. At the same time, you have your own private space to retreat to at any time.
Co-housing communities are comprised of private homes that center around a communal space. Usually, community members have meals together, attend meetings, and share responsibilities while still living in the privacy of their own homes. Co-housing communities are designed to distribute responsibilities across community members. This eases the burden on any one person and provides a sense of purpose and belonging.
Benefits
Social Connections and Support: Co-housing communities are designed to foster social connections. You can form relationships with your neighbors through shared meals and communal activities. Once you have established these relationships, you can lean on your community for support when needed.
Improved Well-Being: By combating the isolation and loneliness associated with old age, studies show that those living in co-housing retirement communities have higher levels of physical and emotional well-being.
Shared Resources and Reduced Living Costs: In some cases, costs are lower in co-housing arrangements because resources and responsibilities are distributed among many people.
Challenges
Decision-Making Processes: In most co-housing communities, decision-making is a group effort. Residents abide by a set of agreed-upon rules, and making changes usually requires unanimous agreement. This might be a drawback for independent-minded people who feel weighed down by group decision-making efforts.
Privacy Concerns: In co-housing arrangements, members live in close proximity to each other and may have some level of expectation to contribute to the community. Although each person has their own space, this can feel like an impediment to privacy for some people.
Time Commitments: You will likely be expected to volunteer your time and contribute to the overall community in some way. This might involve serving a communal meal, organizing a group activity, or participating in community-wide chores.
2. University-Based Retirement Communities (UBRCs)
University-Based Retirement Communities, or UBRCs, are living options for seniors interested in continued learning throughout retirement. In many ways, UBRCs provide the classic college experience. They give retirees access to advanced education, extracurricular activities, and cultural events on campus.
Seniors at UBRCs also have plenty of opportunities to interact with younger generations, a feature that most other retirement living options cannot claim. Proponents say they enjoy learning from their younger peers and find fulfillment in exchanging their wisdom with them.
Housing styles at UBRCs vary from University to University. They range from apartments to cottages to single-family homes. Generally, continuing care is offered in these communities. This means there is a sliding scale of care based on each individual’s needs. In many cases, UBRCs are affiliated with the university hospital, granting residents access to premier healthcare services.
Benefits
Intellectual Stimulation: For those with a genuine love of learning, life will always be exciting in a university-based retirement community. UBRCs offer retirees the chance to learn something new daily, whether in the classroom or on campus.
Cultural and Social Events: A University setting also provides opportunities for almost endless entertainment with musicals, dance, plays, and athletics events; games, art classes, and lectures are just a few of the events that members of UBRC can enjoy.
Healthcare Partnerships: Most UBRCs partner with university medical centers to provide healthcare to their residents. Access to premier healthcare services is a draw for many considering a UBRC for retirement.
Challenges
Higher Costs: Like most higher education in the U.S., UBRCs are expensive. UBRCs require an upfront entry fee and ongoing cost of living and care. The amount you can expect to pay varies greatly from one University to the next. Be sure to research the expenses at the specific UBRC you are considering. You can downsize and live in a smaller home near a university — but it isn’t exactly the same as being in a retirement community.
Limited Locations: There are only around one hundred UBRCs across the U.S., which reduces the likelihood of finding one in your ideal location.
Potential for Ageism: Although many retirees are intrigued by UBRCs because they offer the chance to form intergenerational relationships, it is important to understand that this is not a guarantee. Retired adults may feel like the odd one out in a classroom full of twenty-somethings and might feel isolated from their peers.
It is important to remember that no two UBRCs are the same. If you are considering joining a UBRC, it is essential to do your research and clearly understand the level of care they provide, what your entry fee and monthly fee get you, and where the community is located to the campus.
3. Ecovillages and Sustainable Retirement Communities
Sustainable retirement communities and Ecovillages have blossomed as eco-friendly choices for retirees who are concerned about their carbon footprint. Some key features of eco villages are energy-efficient buildings, waste reduction efforts, community gardens, and local food production.
Most sustainable retirement communities are LEED certified, which means they are energy and water-efficient, low in greenhouse gas emissions, and near public transportation.
Eco-villages are places where residents practice eco-friendly lifestyles. Those who choose to live in sustainable retirement communities enjoy the opportunity to connect over their shared lifestyle and dedication to the environment.
Benefits
Lower utility costs: Because these retirement communities are specifically designed with efficiency in mind, utility costs at sustainable retirement communities tend to be lower than traditional retirement communities.
Health benefits: Making sustainable choices is proven to improve personal health and well-being. For example, choosing to eat a plant-based diet or sticking to organic foods can reduce cancer risk and boost cardiovascular health.
Sense of Purpose: Knowing that you are doing your part to save the planet can bring a deep understanding of purpose. It is hard to put a price on peace of mind, and many retirees are okay with paying more, knowing that they are contributing to the greater good.
Challenges
Upfront Costs: Adapting or building a sustainable community comes with upfront costs. Although it will be more cost-efficient in the future, it might cost more to live in an eco-village than a traditional retirement home.
Adapting to New Lifestyle Practices: As a member of a sustainable retirement community, you will be encouraged to make sustainable choices, such as reducing waste, following an eco-friendly diet, or taking public transportation. If you have not already been making these choices and are unwilling to make adjustments, a sustainable retirement community might not be the best fit for you.
Limited Availability: Most retirement communities are not built with a focus on sustainability. Fewer options mean finding a sustainable retirement community in your ideal price range, and location might be more challenging.
4. Niche Retirement Communities
Niche retirement communities are a relatively new but growing part of the retirement community scene. They focus on specific hobbies or lifestyles and generally intend to bring like-minded people together in their older years.
Some examples of niche retirement communities include artist colonies and LGBTQ+-friendly retirement homes. There are also communities designed for yogis, parrot-heads, equestrians, and even mailmen (yes, there is a retirement community just for retired mail carriers).
These communities are intriguing for those passionate about a particular lifestyle or topic. They offer a unique opportunity to connect with people with similar interests, which some find more difficult as they age. Niche retirement communities may also come with amenities that facilitate your interests. For example, an art-focused community might provide art studios, classes, and a gallery space to present your work.
Niche communities come with many great perks, but they have their downsides. There are very few lifestyle-based retirement communities, and the one that interests you the most might be across the country. It is also possible that a community for your specific interest does not yet exist.
A quick Google search will reveal the options available and whether they are within your price range. If one catches your eye, don’t be afraid to visit in person to see whether it fits you.
5. Technology-Enabled Independent Living
Advancements in technology and artificial intelligence are boosting retirees’ independence and opening the door for more seniors to age in place. These technologies can help seniors with everyday tasks and assist in health care so that seniors can age in the comfort of their own homes.
Some examples of smart features that help retirees age in place include smart home devices like lights, thermostats, and security systems. Delivery apps can help seniors get everything they need while staying in the comfort of their own homes, including food, household products, and prescriptions.
There are also many ways that technology can help administer health care, from automatic pill dispensers to smart toilets that monitor your health. Everyone’s healthcare needs are different, and the technology you incorporate into your life can easily be customized to suit your unique needs. In many ways, technology eases some of the burdens of aging, and by taking full advantage of these technological advancements, retirees gain the flexibility to age wherever they choose.
Financial Considerations
It is crucial to fully understand your financial situation when considering retirement living arrangements in your cards. The innovative living arrangements covered in this article can be more costly than traditional retirement homes, so it is key to keep in mind your financial limitations.
Remember that cost varies significantly from one category to the next. Even within categories, cost differences can be significant. When it comes to the cost of retirement arrangements, it’s important to understand your budget and do your research. Some retirement communities may have financing options, so feel free to contact the organizations that appeal to you and discuss whether it is a financially viable option.
There are many more retirement options than initially meet the eye. Understanding the options available to you is essential in deciding how and where you want to spend your retirement. Explore the many new ways you can spend your retirement and do your diligence to see whether one of these innovative living arrangements is right for you.
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