Benefits Elders Aging in Place

They are called Elder Communities, Over 55+ communities, Assisted Living facilities, or simply Retirement Communities. And there is a reason why more and more are being constructed across the country. Investors understand the volume of our burgeoning population in these age brackets. Coupled with the extended life expectancies today, it is obvious we have an aging population which represents a unique market opportunity for businesses catering to their needs.

But aren’t many of these so-called “communities” patterned out of the same cookie-cutter approach? They seem to be very, very similar to one another. What distinguishes any one from another? Every time I walk into a new resident building on a senior “campus”, it looks gorgeous. Many are scenically situated, boasting large floor plans, beautifully furnished rooms, and abundant communal space for reading groups, card players, and exercise stations.

Those who invest in the senior market and specifically senior living are abundantly aware that health care is one of the top concerns – if not the single most important life issue – for all seniors. Here is a little tip I would like to pass along to the decision makers and investors: put your money into health care services for your resident senior community. Providing exercise programs is a good start. But what about formalizing the on-site services of a health care agency to engage and assist the elderly with bathing, medication reminders, and some household chores such as laundry? What about establishing an on-site physician practice, where medical professionals can actually make house calls to residents who are unable or unwilling to travel?

Take advantage of the opportunity to offer services that every senior wants and eventually needs. The benefits of such services will stabilize your community, while also recruiting new seniors looking for peace of mind as they age in place.