Selecting a Senior Luxury Home

Sanjeev Kumar Jain

Founder, NEMA Eldercare & Senior Living Solutions

As we cross the age of  60, it often signifies a transition marked by reduced work commitments, a sense of aimlessness, and a lack of additional perks and benefits. As children immerse themselves in establishing their lives, seniors find themselves with ample free time, frequently residing in unsuitable inherited properties. This shift, coupled with diminished social engagement, can lead to progressive health issues, mental health challenges, and physiological difficulties like lack of comfort eating, anxiety, and depression.

Sale or Lease: A Pivotal Decision

The initial decision when contemplating a move to a senior living community revolves around whether to buy, or rent a senior living apartment. A substantial 85% of available senior-living units are for purchase, typically developed by real estate developers aiming to capitalize on the 10-15% premium these apartments command over standard ones. Conversely, a mere 15% of units, mainly smaller ones like studios or one-bedroom apartments developed by smaller entrepreneurs, are available for lease with a refundable security deposit. However, it’s essential to note that these leased apartments, more often than not, lack the opulent amenities that define true luxury.

Location and Connectivity: Pillars of a Gratifying Lifestyle

Optimal senior living communities are strategically situated near parks, multispecialty hospitals, shopping centers, temples, and in the greenest areas of the city or its outskirts, complemented by excellent transportation links. Proximity to international airports facilitates visits from overseas-residing children, while central city locations encourage family visits and active senior participation in family events.

Building Community: Shared Interests and Bonds

Investing in a community entails a significant financial commitment, making it imperative to invest time in understanding and observing potential community members. Building stronger ties and cultivating a peaceful living environment, stems from shared interests, backgrounds, income levels, and value systems.

High-Quality Accommodation: Where Luxury Meets Safety

The quality of accommodation is a cornerstone of luxury living. Senior-friendly furniture is essential for well-lit, ventilated, safe, and well-furnished living spaces, considering seniors spend substantial time at home. Units must adhere to ADA accessibility guidelines and meet national and international safety standards. An ideal senior living community should be LEED-certified, integrating energy-efficient technologies, water-saving measures, waste management, green building standards, and a commitment to carbon neutrality. Achieving this requires architects with extensive international experience and a profound understanding of healthcare and eldercare services.

Technology Integration: Responsive Life Enhancement

Ensuring well-integrated and upgradable technology is crucial for enhancing lives and responding to emergencies. Smart home solutions, including wearable devices like smartwatches, have become cost-effective and should be seamlessly integrated to monitor health and location without infringing on personal space.

Amenities and Healthcare Infrastructure: Beyond Extravagant Facilities

Contemporary developers offer an array of amenities, with each facility seemingly outdoing the last one. While the scope of facilities expands to encompass gyms, swimming pools, spas, salons, libraries, multipurpose community halls, indoor game areas, and diverse dining options, it’s vital to remember that the true value lies in the quality of life, fostering camaraderie among seniors, not merely in the extravagance of amenities.

Services of Senior Living Operator: Professional Support for Quality Living

A reputable senior living community should have an external independent operator delivering specific hospitality and healthcare services such as food provision, healthcare, housekeeping, laundry, and concierge services, all while engaging residents in various social, cultural, and recreational activities. This requirement has become mandatory in certain state jurisdictions and is likely to be adopted more widely as the senior living sector expands.

Financing Self: Planning for a Secure Future

Deliberate financial planning is crucial when considering a senior living facility. In addition to the cost of units and interior furnishings, seniors must budget for service charges from the senior living operator and facility management. While India currently lacks insurance specifically for assisted living and senior living facilities, health insurance remains imperative to cover unforeseen costs.

Home for Golden Years

Embarking on the senior living journey involves a thorough assessment of needs, visits to potential communities, and seeking professional advice if necessary. Crafting your golden years requires a thoughtful balance of ownership, community, quality of life, and financial planning. Considering these factors ,your senior living experience may well  be rich, fulfilling, and tailored to your unique preferences and needs.