Senior Retirement Homes - Plan Today For Your Future
Who doesn't dream of a retirement free of worries? Living an independent life, with some assistance & among people of same age group, makes for a good retirement option. Experts say that planning of your retirement should start from the day you start earning. Sounds good advice indeed, but it is the one that is seldom followed.
With more and more middle-aged professionals opting for retirement early in their career to explore personal interests, increasing the demand for state-of-the-art retirement homes. Don't think of these retirement housing projects as run-down old-age homes, where the aged & abandoned live in a pitiable state. Today's retirement homes are the vibrant complexes that take care of your food, housekeeping, health care and security, allowing many enjoyable sunset years.
Right now, nearly 98 million Indians are above 60 years of age. This number is expected to rise to 240 million by 2050. Many senior citizens are financially independent when they retire, but the question that haunts them is, how they will manage when their grown-up children move to another city for work. Healthcare needs, safety concerns, and loneliness is pushing these people towards retirement resorts that offer easy solutions to such problems.
Your finances should match the way you plan to spend your retirement. Do the math before investing in such projects. Also, note that the cost of the services will rise every year. Since you will be living off your savings, don't over-extend and buy a project you can't afford. It's equally important to conduct some background checks. Go for a company that has developed a senior citizens' project before and has some experience in the field. If services have been outsourced, examine the reputation of the service provider.
THREE WAYS TO BUY A RETIREMENT HOME
Senior citizen homes projects are tailored to the needs of the aged. One can choose from any of the three financial models.
1. Outright sale
The units in retirement projects are sold to customers above the age of 50 or 55 on a ft/sq basis. The housing complex is professionally maintained with services offered on a monthly payment. A son/daughter aged less than 50 years can buy such a unit, but only a senior citizen can stay permanently in it.
2. Deposit model/ payback schemes
An upfront deposit, which is a percentage (60-70 %) of the sale value of the unit, is charged. Charges are levied for food, electricity, water, etc. The deposit charges are paid back to the successor with some deductions at death/end of the lease.
3. Lifetime lease
A small deposit is charged on handing over the unit to the customer. A recurring monthly rent is levied for the duration of stay. The rest of the facilities are paid on actual. The unit holder doesn't have to pay the property tax.
So, plan your future living in a retirement home that has a lot of advantages over living in a home, and get the right kind of assistance that can be totally personalized as per your requirements.
With more and more middle-aged professionals opting for retirement early in their career to explore personal interests, increasing the demand for state-of-the-art retirement homes. Don't think of these retirement housing projects as run-down old-age homes, where the aged & abandoned live in a pitiable state. Today's retirement homes are the vibrant complexes that take care of your food, housekeeping, health care and security, allowing many enjoyable sunset years.
Right now, nearly 98 million Indians are above 60 years of age. This number is expected to rise to 240 million by 2050. Many senior citizens are financially independent when they retire, but the question that haunts them is, how they will manage when their grown-up children move to another city for work. Healthcare needs, safety concerns, and loneliness is pushing these people towards retirement resorts that offer easy solutions to such problems.
Your finances should match the way you plan to spend your retirement. Do the math before investing in such projects. Also, note that the cost of the services will rise every year. Since you will be living off your savings, don't over-extend and buy a project you can't afford. It's equally important to conduct some background checks. Go for a company that has developed a senior citizens' project before and has some experience in the field. If services have been outsourced, examine the reputation of the service provider.
THREE WAYS TO BUY A RETIREMENT HOME
Senior citizen homes projects are tailored to the needs of the aged. One can choose from any of the three financial models.
1. Outright sale
The units in retirement projects are sold to customers above the age of 50 or 55 on a ft/sq basis. The housing complex is professionally maintained with services offered on a monthly payment. A son/daughter aged less than 50 years can buy such a unit, but only a senior citizen can stay permanently in it.
2. Deposit model/ payback schemes
An upfront deposit, which is a percentage (60-70 %) of the sale value of the unit, is charged. Charges are levied for food, electricity, water, etc. The deposit charges are paid back to the successor with some deductions at death/end of the lease.
3. Lifetime lease
A small deposit is charged on handing over the unit to the customer. A recurring monthly rent is levied for the duration of stay. The rest of the facilities are paid on actual. The unit holder doesn't have to pay the property tax.
So, plan your future living in a retirement home that has a lot of advantages over living in a home, and get the right kind of assistance that can be totally personalized as per your requirements.
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