Senior Living Homes
Retiring to a comfortable lifestyle: Retirement Communities
After obliging to all the responsibilities in life, from working for long hours on getting children married, if you eagerly look forward to a tranquil life in the second innings of his life, then retirement communities are for you.
A fairly new concept for the Indian society, retirement communities are gradually expanding in the country.
Retirement homes are also commonly known as retirement communities, senior housing, retirement villages and senior citizen homes.
What is a retirement home?
Built in an elderly friendly way, retirement homes provide a comfortable lifestyle.
Wheelchair friendly premises, Grab rails, panic switches, 24/7 emergency support, are some of the services which make them unique. These societies conduct regular activities and events to make people feel at home. Only people above a certain age (usually ranging from 55-60) can reside in these societies.
Is retirement home a fancier version of an old age home?
The concept of a retirement home and old age home may seem overlapping, but that is not the case.
To begin with, old age homes are mostly charitable in nature. The occupants may have to pay a nominal rent monthly, yet their major source of funding is donations.
Retirement homes are a business model, which has been a way of life for seniors in the West, and it is slowly spreading its wings in India.
Retirement homes can be purchased or leased. Seniors can also occupy the property on a rental basis. In the case of retirement homes, the costs that need to be incurred are not nominal.
Most of the old age homes come with basic amenities like a basic room, a common dining area, and some basic recreational facilities. However, retirement homes provide a comfortable lifestyle with a plethora of services and activities.
Retirement homes offer greater freedom. There is no restriction that the society puts on the residents. They can go out whenever they want and can ask for customized food or services at any point of time.
Explore more about Senior Housing
- The choices in the Indian retirement home market
- Is Indian market ready for retirement homes?
- What are the various costs associated with a retirement home? Can it be rented or resold?
- What all should you consider before you hand over the final cheque?
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