Make planning for your future housing needs one of your first priorities since where you live in retirement affects not only your income, but also your emotional, social, and physical well-being. It is an important part of your overall retirement strategy. You might consider relocating to an area with lower living expenses, or transforming the equity in your home into income by taking out a reverse mortgage.
When deciding on housing, the most important factor is to know your likes and dislikes. What is most important in your life? Choose a home that will allow you to continue these interests. Evaluate your needs, desires, and resources, and determine your housing options according to these factors. Below are some options to consider:
- Vacation home
- Living with family
- Adult day care
- Assisted living
- Home care
- Continuing care retirement community
Senior Housing Resources and Links
- Your personal guide to finding the very best senior living options!
- How to assess your needs and make the best senior living/residential care choices.
- New York Foundation for Senior Citizens: website includes comprehensive listing of public and private housing by borough, including adult homes, public housing exclusively for seniors and supportive housing for the elderly.
- New York Foundation for Senior Citizens Home Sharing: lists adult hosts seeking occupants for extra bedrooms in their homes and apartments in the five boroughs. Services include professional social workers who manage the matching process.
- RetirementHomes.com has been North America's largest and most comprehensive online Senior Living Directory. Covering the continuum of care and beyond, they offer the most up-to-date detailed listing information on Senior Housing Options.
- Retirenet.com: comprehensive directory of all retirement homes and communities in the metro area. Includes types of care offered by each and budgetary guidelines.
- National clearinghouse for consumer inquiries about shared housing plus a state-by-state listing of homeshare programs.
- Guide to cohousing in this country. Includes a state-by-state directory of existing and planned communities, resources, event listings, professionals active in cohousing and a listserve.
Making the Transition Resources and Links
- Membership organization for Senior Move Managers. NASMM members specialize in helping older adults and their families with the daunting process of downsizing and moving to a new residence.
- Caring Transitions offices nationwide manage Senior Moving, Downsizing and Estate Sales, including full or partial liquidations of personal and household items.
- Designation by the National Association of Realtors for Realtors who have successfully completed a series of educational courses on how to help seniors and their families with later-in life real estate transactions.