Retirement brings with it many different lifestyle changes. Perhaps you’ll find that the house you’ve been living in might not be appropriate for your needs or your budget. Your living arrangements are one of the biggest changes you’ll have to make during your golden years. Here are several alternative housing options to consider beyond a retirement community:
These small residences put a senior-friendly twist on the tiny-house concept. This is a great option for you if you want to live independently, but still be closed to your loved ones. You can set-up a granny flat kit on the property of your family members since they’re quite small and compact. You’ll be able to live on your own, but still within a stone’s throw away from the companionship of your family. They’re also easily customizable, so you can add in essential features like ramps and grab bars if need be.
Aging in Place
Aging in place means that you’ll keep your current home, but you’ll modify it to address any mobility issues. You can also hire home health care professionals to get further assistance if needed. This is an ideal set-up if you can still manage to live on your own, and if your house is already the appropriate size for you and if you’re on a strict budget. All you’ll need to do is make a few minor modifications and find a reputable on-call caregiver who can assist you whenever you need it.
If you’re a nomad at heart who wants to hit the open road, you might want to consider getting yourself an RV. You also don’t have to give up your home — have loved ones or temporary renters occupy it for the time being as you roam the country. It sounds crazy, but it’s a great way to spend your time in retirement. Just remember to budget for the cost of gas, parking, and food. Also, consider your health and energy levels. Only do this if you’re physically and mentally fit to do so.
Move-in with your kids
This option might not be for everyone, but if your adult child allows it or if you have them move in with you, can be beneficial to you both. You’ll both be able to cut down on your living expenses, as well as help each other out with various tasks. For example, you may help out when it comes to babysitting or cooking. Seniors benefit from an active household since it wards off loneliness and the health risks associated with it. Just be sure to keep an open line of communication and set clear guidelines, expectations, and boundaries from the start.
If your main concern after retiring is your budget, then subsidized housing might be the best option for you. There are several federal housing programs that can help you stabilize or even subsidize your rent. However, these programs may have certain eligibility criteria and application processes which can be quite complicated. It’s important to start applying and compiling all the necessary requirements early on before you officially retire.
Retiring is both an exciting and incredibly stressful period in everyone’s life. One way to ease your anxieties is by securing a housing option that is right for your needs and budget. Consider these alternatives when you’re looking for the best place to live.