Senior citizens are a growing tribe, a segment that the government and marketers seem to ignore,. A large part of this segment is characterised by decreasing income and increasing responsibilities and hardly any government schemes and support. Some senior citizens wish to live independently as a choice and not as the last option because of their relationship with their kids or lack of anyone to support, assist and take care of. They desire and demand a particular standard of living. Their specific wants and needs may differ slightly, but the solutions are limited and almost the same. Senior Age home or Retirement Homes.
According to a report, there are around 3,600 occupied senior/ retirement homes in 15 projects across the country. Meanwhile, 5,000 units are under development in some 20 new projects. Some of these projects are multi-storied buildings designed with seniors in mind, whereas most seniors prefer single independent units/bungalows/villas (with 50-100 units) as retirement homes.
Independent Senior Age Living
Senior age living (SAL) is simply living in a community for independent people leading an active life. They are an independent and safe living option to senior citizens. They offer convenient services with senior-friendly design and social activities. Additionally, they are equipped to provide medical support in emergencies or primary healthcare and check-ups.
There are primarily three types of senior-age living:
- Independent Community Living for active, healthy seniors.
- Assisted Living Facilities: designed for seniors who may need assistance with their daily activities but do not require full-time medical care.
- Skilled Nursing Homes – as the name suggests, they provide 24/7 medical care and support for seniors with chronic illnesses or disabilities.
Independent Retirement Homes
Here, the focus is on Independent senior-age living (ISAL), also called Retirement Homes. They are in demand due to decreased support and interaction between children and the aged. And these seniors, at some stage graduate from independent living to assisted living.
Both private companies and non-profit organisations operate senior-age homes in India. Private Senior-age living communities are often upscale offering premium amenities. The non-profit organisations provide more affordable options for those with limited financial resources and wants.
Facilities at Retirement Homes
Retirement communities have almost all the facilities of a self-contained regular residential apartment complex with added special features to aid seniors and give them freedom from daily household chores.
The place is designed for senior age. The common features include gentle slopes, anti-skid bath floors, easy-to-reach and operate light switches, grab rails and an emergency response system that can tackle first-aid and minor medical emergencies. Regular medical check-ups and tie-ups with leading hospitals are essential to the infrastructure.
Additionally, active living with yoga, a swimming pool, fitness centres, indoor and outdoor games, and meditation are part of the services. Food can be ordered restaurant-style, fresh and delicious, or customised to special dietary requirements. However, there is no pressure for shopping, planning and cooking- which the senior-age home staff takes care of.
The children and grandchildren are welcome to visit, stay, and interact with their seniors and the extended family of other seniors. However, there are limitations to the number of days they can come and stay at the retirement homes.
Emotional Bonding at Retirement Homes
Good Retirement Homes have frequent community engagement activities to foster a sense of belonging and purpose among residents. This can never replace a family and bonding with family members. It is a mutual two-way street. One gets what one invests in. The bonding is dependent upon the time invested in community and interaction. The bonding is higher when the residents collectively take the majority of the decisions about how to run the retirement homes.
Senior Age Home – A Rational Choice
It is wrong to presume that old age homes are meant for people who have disabilities due to old age. And anyway that is for assisted living. The focus here is Independent Retirement Homes. It is a choice that works for strong-willed seniors making a rational decision not a reaction to lack of support/interaction with the younger generation. Otherwise, they end up missing their families and crying, affecting the whole ecosystem and ambience of the Retirement Home community.
The priority should always be home, better homes with kids. The basic rule should be, if one can take care of parents, it is better not to send them to a Senior Age Home. Old age is childhood revisited; they need attention from their own children rather than outsiders. Senior age home should be is a second or third priority or the last option be it a healthy independent senior or one who requires assistance. However, many healthy individuals/couples make a choice for Retirement homes.
Maybe Retirement Home is The Best Decision
Every senior deserves post-retirement happy days. Retirement homes are one such solution. Don’t choose a retirement home based on websites and catalogues; personally visit and interact with the seniors living there. If it is a new project, do a background check. Take advantage of trial stays. It will help find a retirement home where one can enjoy retirement years, which one rightly deserves.
A Retirement Home is a good choice if the following Is true.
- You are living alone. You and your spouse are the only family members.
- The children are not with you; they live far away or in a different country.
- There is no one to look after you or to take care during an emergency.
- You want to live independently with people of your age group.
However, if you want to stay in Retirement Homes, don’t postpone the decision. Visit available options, talk to the residents there and get more opinions before deciding.
Find The Right Retirement Home.
The situation is fluid. There are hardly any benchmarks for quality of care, affordability, and rights and dignity of residents. There are no rules and regulations governing Retirement Homes. So, finding a retirement home that will tick all the boxes is tough. The way is to have clear priorities for this mostly a one-time decision. Decide if a library is more important than a swimming pool, Or a movie theatre is important than indoor games. In case you are medically aligned, it is best to check if the hospital the retirement home associates with is within 20 minutes.
The best part is being surrounded by a like-minded community. Where your friends and neighbours are the same age. However, this healthy, happy independent post-retirement life with emotional support and inter-dependency among like-minded people can be a dampener at times. Remember, the ROI on engagement and involvement, entertainment, and health depends upon one’s inclination to invest in the communities and participate in the events and efforts.
The Cost Of Living In A Senior Age Home.
Old age homes in India are available at INR 10,000 to INR 30,000 per month at base level and a 100K for places with more luxury, maintenance quality and additional services like laundry, transportation etc.
There is also a one-time lump sum payment option. However, it still has a very low monthly charge.
A decent retirement home outskirt of a tier-II city would cost INR 50-75K for single occupancy and 60-90 K for double occupancy with a deposit of 10-15 Lakh.
The security deposit is usually refunded after a lock-in period of 6 to 12 months. In some places, only 60% of the deposit is refunded on vacating. One can negotiate the deposit amount and monthly fee, a higher deposit decreases the monthly payment.
Single payment plans start at INR 75 lakh and go up to INR 2 cr and more. The living space and amenities are guaranteed for life, i.e. till the age of 99 for either or survivor in the case of a couple. Here, the lock-in period is long, and only a small amount or nothing is returned; however, one can sell the ownership in the market, but the purchases must be approved by the team/society/community governing the Retirement Home.
Cost References
Antara Senior Living project in Dehradun sells on a lifelong lease model. It charges INR 1.7 crore for a one-bedroom unit and INR 7 crore for a three-bedroom unit with staff accommodation. The lease is renewable by the heirs of the original residents. While they can exit at the market value, the management must approve new buyers.
Assistant is usually available as per shift at additional cost. Usually, a 24-hour assistant costs 60K, and an 8-hour shift attendant costs around 25K per month. In the case of an outright buy or lease model, nominal housekeeping charges are payable. Whereas in the monthly rental, the charges include everything, and there is a deposit.
Golden Estate. Faridabad provides trial stay options @3.5-4 K per day for single and double occupancy. A short-term stay costs 1.25 L to 1.5 L for single and double occupancy. It drops to 75-95K when the duration is more than 6 months with a deposit of 20-40 lakhs.
Factors Governing Cost Of Living At The Retirement Home.
The cost of living in a retirement home varies widely based on a few criteria and the type of facility.
Location: metro, non-metro, tourist destination and climate.
Amenities: Meals including in-unit delivery, ala-carte ordering and 24-hour meal service.
Housekeeping including plumber – electrician on call, concierge service, scheduled transportation to the city, Sanitation and garbage disposal, daily need shop and banking assistance.
Recreational activities include a Gym, acupressure walk, walking space, Movie theatre, smart TV in the unit and common area, Café and garden and some talk of Jacuzzi and aqua therapy.
Medical assistance includes regulated nursing with OPD, Ambulance and doctor on call, and some include on-site physiotherapists. Ac vs. Non Ac unit.
Safety and security include gated entry, 24X7 security guards, local administration and police liaison, CCTV monitoring, emergency control room and response systems, automatic rescue devices in the lift, invertor and electricity backup.
Size of the unit: studio apartment, one-bedroom or two-bedroom unit
Type of facility: Independent community living, Assisted Living Facilities designed for seniors who may need assistance with daily activities but do not require full-time medical care. Skilled Nursing Homes provide 24/7 medical care and support for seniors who are unable or challenged to take care of their daily activities.
In the case of Retirement Homes, simple things become selling points. Things like Skid Resistant Tiles, a Night lamp in the master room, Arthritis friendly fittings, Round wall edges, wheelchair and age-friendly environment and structures, and Grab rails in the bathroom.
Reverse Mortgage: An Alternative To Retirement Homes.
Not yet popular in India. In this case, the property is mortgaged to the bank with reverse EMI. Simply said, the bank pays the owner an EMI till death. After which, the property is transferred to the bank. It is an excellent option for seniors who continue to live in their properties in the current location and are open to not leaving it for the next generation.
Net-Net
Retirement homes should be a rational decision and not an emotional spur-of-the-moment decision. There are enough options across locations and new ones coming up. One must research and visit different retirement homes, understand their fee structures, and carefully evaluate the financial situation before deciding. Check the years of existence and their expertise in delivering the promise.
Do not sign any agreement before really reading and understanding the contents. It is important to note the initial and recurring costs.
One should consult a financial advisor to plan and determine the type of retirement home facility that suits your needs and budget.
Consider a future scenario where one may need to graduate from an active individual enjoying retirement age to someone needing assisted living. If time permits, use the trial stay. It will ensure two things. One, it will tell if one is ready for a retirement home stay and if one likes the place (including the food), it can help take the right decision.
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Some Retirement Home Options.
These are results from internet research. Most retirement homes were unwilling to share the cost structure without personal data and contact details. Most were like apartments for retired people than the retirement home community. Coavi care in Coimbatore and services for the elderly at Nerul Gurugram seemed like one real retirement community.
In assisted living, HELPEE, with properties in Ahmedabad, Bengaluru, Chennai, Coimbatore, Hyderabad, Mumbai and Pune, is a trusted name that emerged in discussions. They also have independent living in Chennai.
Some other names are Antra. Dehradun. Ashiana Advik. Bhiwadi Rajasthan. They also have properties in Chennai (Ashiana Shubham) and Lavasa-Pune (Ashiana Utsav). Near Gurugram (Ashiana Nirmay), Athulya. Chennai., Covai Care. Coimbatore, Elements. Alapakkam, Near Valasaravakkam, Chennai., Golden Estate. Faridabad. Graceland Foundation. Kochi. Place De Retraite Anandam, Bangalore, Silvergrade, Delhi and Primus Swarna Active Senior Home, Panvel.
PostScript
MAINTENANCE AND WELFARE OF SENIOR CITIZEN ACT 2007
The Act asks children and heirs to provide maintenance to senior citizens and/or parents in the form of a monthly allowance. Until people become fully aware of it and the kids start caring for their ageing parents more as a responsibility rather than a chore, the senior citizens need to take care of themselves.
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