As the cost of retirement homes continue to soar, many seniors have to begin looking for alternative arrangements. With yearly costs reaching toward the $100,000 mark, retirement homes are beyond the reach of many seniors. It’s time for seniors to think outside of the box.
Say, for example, a senior woman loses her spouse and she is left alone in the house. For many, this can be a very lonely and heart-breaking experience. The answer it seems is to sell the home she shared with her husband and move into a retirement home.
The problem is, the prices are so high that retirement savings would most likely vanish in a few years. This article by CNBC discusses just how desperate the situation has become. So what is a senior to do? Just maybe there is an alternative. Here are 4 reasons why seniors sharing their home will rock the retirement world.
THE LONELINESS WILL VANISH
Many seniors can delay the move into a retirement home for many years if they decide to share their home with another senior or seniors in the same position.
Say for example the senior who owns the home is very active and fit. Her goal would be to search out seniors who are like-minded. Most homes have at least three bedrooms.If a senior is all alone, why not make use of them?
Not only does sharing a home eliminate being lonely, but it also provides companionship for exercising, long walks, or any other form of fitness that fits the bill. There will always be a companion for evenings out for a movie or dinner.
It would mean never being alone for special holidays.
Grocery shopping and cooking meals together would be a lot more fun than doing it alone. They could watch TV together or play cards or board games.
For that matter, they can go on vacation together. What better way to go on a cruise. Most cruise ships will match you up with a stranger if you are traveling solo. The alternative is to pay twice the price for your own cabin. There you go, being lonely again.
This is an excellent video about Home Sharing For Seniors
SHARE THE COSTS
Even if a house has no mortgage left, there are many expenses left to pay. Almost anywhere you live in North America, residential taxes seem to rise on a yearly basis.
The cost of utilities is also rising with gas and electricity prices on the upswing. Then there is the cost of maintaining a home. Many seniors have to pay to have their yards taken care of. There could be exterior painting, roofing, or plumbing issues to take care of.
Grocery prices are on the rise as well. What a difference if the cost is shared. Just think of the disposable income that would remain if a senior is not paying $3000-$5000 a month for a private room? Now consider if three seniors lived together? They could live a very good life by sharing financial responsibility.
At the same time, they could be putting money away in the event the day comes when they do have to settle on a retirement community or assisted living option of some sort. However, the longer they can be in a home sharing situation, the less time they will be spending in a retirement home.
The world can be a scary place for a senior living alone. Having a housemate will offer a sense of security. Often seniors are easy targets for scammers and two or three head are better than one if faced with online or telephone scams.
If someone notices a senior living alone, there could be potential for a break and enter. This is less likely to happen if there are two or more seniors sharing as home. Even something as innocent as going for a walk is safer for a senior who is not alone.
Things happen in everyday life that most adults can take in stride, but seniors can find it pretty scary. Things like rainstorms, snowstorms, or electrical blackouts are a few examples.
Severe winter storms and flooding are increasing around the world with the shifting weather patterns caused by global warming. In the event of an emergency situation, it would make a big difference if a senior is not all alone.
Any number of medical emergencies can happen at any time when it comes to seniors.
Slipping and falling in the bathtub probably injures more seniors than almost anything else. It’s shocking when you read the stats. According to the National Institute on Aging(NIA), It’s expected that of three seniors over 65, one will fall each year.
What is more revealing is that 80% of those falls don’t happen outside, they happen in the bathtub. So what happens if a senior falls in the tub and they live alone?
According to the Centers or Disease Control and Prevention over 1.5 million seniors end up in emergency for fall-related injuries. The most common are fractures and head injuries. If a senior breaks a hip, it’s even more serious. There is a 25% chance that they may die within a year. At the very least they could lose their independence.
If a senior is not alone, just the fact that action is taken quickly can have a huge impact on the outcome of a fall. In reality, it could save their life if they have someone sharing their home.
Iamfine is an excellent safeguard for keeping close tabs of seniors who live on their own.
ROCKING THE RETIREMENT WORLD
One can only hope that more and more seniors decide to make a go of it by opening their home to other seniors who are facing huge fees to live in a retirement community.
Maybe if enough seniors delay their entrance into a retirement setting by staying in their own home longer, the incredibly high prices of retirement communities will come down.
It seems to make perfect sense for seniors of like genders to share a home, but of course, potential house-mates would have to be carefully vetted. For instance, if the senior home-owner is in good health and practices best nutrition and fitness routines on a regular basis, they would want to find someone with the same outlook on life.
It would defeat the purpose, for example, to have a senior in the early stage of dementia move in. As things escalate, the senior owning the home could become a caregiver, and that sort of defeats the purpose.
The seniors, along with their direct family, should all meet and discuss the situation before any decision is made. That way everyone is well aware of what’s going on and can help in the decision-making.
For instance, common sense dictates that there should be a trial period to ensure that the individuals are compatible. With the understanding that if things don’t work out there’s not much point in carrying on with the arrangement.
If that occurs, both seniors can seek out others who are looking to share a home and have no hard feelings.
If you would like to share your thoughts on this topic feel free to make a comment at the bottom of this page.