The Three Most Common Senior Living Solutions Sacramento Has To Offer

| Saturday, June 30, 2018
By Donald Cook


Living in the place that has been home to them for decades is the first choice of most seniors. This isn't always possible when keeping up with house and yard work get to be too much. Health issues can make it more sensible to move into something smaller and closer to medical facilities. Once the decision to move has been made, where to move is the next consideration. The most common senior living solutions Sacramento has are rental, ownership, and continuing care retirement communities.

Rental communities for seniors are usually apartment, condominium, or town home complexes. A lot of seniors like the idea of community living because they are around people of their own generation and can share activities and experiences they all enjoy. These communities also offer seniors more safety than many would have living somewhere else. If they need medical assistance, most units have alarm buzzers and bells that will alert others.

Renting can be a good option for those who don't want to be responsible for home maintenance and repairs that can be expensive and time consuming. Many retirement communities have assisted care facilities available to seniors who need help with daily activities. Because they have no ownership in their units, renters have fewer options, if the money runs out, than do seniors who own property.

Some seniors would rather own than rent. They like the idea of having an asset they can borrow against or leave to their children. These people usually prefer moving to ownership communities. They may choose to purchase a single family home, or a condominium or town home. Purchasing one of these properties is no different than any other real estate deal. You negotiate a price with the previous owner and close after a period of thirty days or so.

The ownership retirement communities will have association and maintenance fees in addition to mortgage payments. Upon the death of a resident, the monthly fees continue to accrue and become the responsibility of the heirs. It is common for assisted care facilities to be available on the community campus. Anyone who needs this type of care normally pays for it on a per diem basis.

A continuing care retirement community is the third most common arrangement seniors make. All care levels, from independent accommodations to assisted living and dementia related care are available within the building or on the site. Residents must qualify to be allowed to live in a CCRC. The Office of Insurance Regulation is the agency that oversees the financial and medical requirements all residents must be able to meet.

The CCRCs are preferred by those who want guaranteed care that is close to them. These facilities tend to attract couples who are younger than those in the rental communities. The cost of CCRCs varies depending on the level of care and the type of contract entered into.

The retirement community option is attractive to a lot of seniors. They have as much independence as they want, or can handle. There are health facilities nearby and neighbors who watch out for each other. Whether seniors choose to rent or own is usually dependent on their personal, financial, and medical circumstances.




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