Other Senior Living Options

Manufactured Housing Communities (also known as Mobile Home Parks)

A growing number of manufactured housing communities own the land comprising the community on a cooperative basis. Cooperative ownership gives manufactured home residents control over management and operating costs of the park, while owning a manufactured home of their own.

Seniors Apartments

Seniors only apartments allow seniors of modest income to rent in a community with people their own age. Surprisingly some seniors with a lot of income and assets also may desire, for various reasons, to rent rather than buy. There are upscale senior apartments designed for them as well. Senior renters may be individuals who have owned a home or have been renting all of their life but desire to move to a community that supports senior needs. Most senior renters are single women. For those who are selling their homes to occupy a senior apartment there may be numerous reasons for the change. Consider some of the following:

• A divorce may require the divorcing couple to sell the house in order to split up their share of the equity
• There may not be enough income to pay the costs to remain at the current location A senior apartment environment might provide the social and emotional support a single senior needs
• The current home may need to be sold in order to free up equity that can be invested and produce income to pay for rent in a senior apartment
• The current home may need to be sold because the senior can't climb stairs, needs a wheelchair friendly environment, or can no longer take care of maintenance and yard work
• The senior may want to travel and not have to worry about a home, thus renting an apartment makes more sense
• The move to an apartment may be temporary because the single senior one day will need a care community or will move in with family. An apartment is easier to leave than trying to sell a home at that point.

Senior apartments are found in many communities. They can vary in terms of services but typically offer apartment living and services designed specifically for independent active seniors 55 and older. Since many of these residences are designed for active seniors, most do not offer meal service, housekeeping or medical assistance. More upscale apartments may offer amenities like swimming pools, meeting rooms, saunas, clubs and socials, hair salons, gift shops, linen services, dry cleaning, laundry services, private maid services and more.