Here I am back to housing issues again. I have been trying to ignore the recent drip drip of complaints on how 2.5 million homes are being held hostage by seniors and boomers so the younger set cannot buy into the great American dream. Today I even read the expression ‘turning dyers into buyers’.
The focus should be on the fact that those who want or have to leave their current homes have very few alternatives. Fortunately to give me another perspective I came across one man’s solution on how to spend his golden years in both an affordable and safe manner. First he did a detailed comparison of how much it would cost to go to a retirement home or stay in a mid priced hotel.
From Facebook he found out that the average cost of a nursing home is $185 dollars a day or approximately $68,000 a year. The other option, a long term stay hotel with a senior discount was $60 a day. They have a lounge, a workout room, a spa, a pool, free toiletries, and a washer dryer room. The hotel is convenient to public transportation and there are many local restaurants besides room service. He mused he could move from city to city if he wanted and of course no maintenance fees except to tip the maid or janitor.
His most startling recommendation comes in the statement: “They treat you like a customer, not a patient”. He also noted that as his health declined there would always be someone around to call an ambulance or an undertaker. It takes a certain level of confidence and composure to approach this type of solution for your own housing needs as you age. But who is to say this is not a viable solution for this gentlemen? I would guess he probably has an outgoing personality that would help him connect with others. I imagine him out there on a good weather day doing more than feeding the birds in the park.
Financially, this is not a bargain basement price with $1800 a month for just a roof over your head. I would guess he does not have enough assets to afford the club atmosphere of upscale senior living and probably too much income to qualify for other government help or subsidies.
Why are people surprised or chagrined that seniors are holding on to their homes? There is a dire need for trying out newer co-housing solutions and shared housing arrangements. The costs to develop new real estate alternatives and are choking out solutions for those mid income folks who do want to move.
So necessity is the mother of invention. I wish this gentleman good health and interesting days.