E
ven with a pensionA pension plan is an employee benefit plan established or maintained by an employer or by an employee organization (such as a union), or both, that provides retirement income or defers income until te... More and plenty of savings, many seniors can have difficulty maintaining their lifestyle as time goes by, as inflation keeps prices on the rise while their fixed incomeFixed Income is periodic payments at reasonably predictable levels from one or more of the following sources:
• Social Security, Supplemental Security Income, Supplemental Disability Insurance... More stays the same. One possible solution to this is low-income apartment living specifically designed for senior citizens. This may not seem like an ideal solution for some people, but there are plenty of benefits to spending one’s golden years in low-income apartments. Here are four reasons why such an option should be on the table for seniors.
Affordable Living
Obviously, this is the main benefit of a senior moving into a low-income apartment. A move to a low-income apartment can offer a significant reduction in one’s monthly living expenses, creating a lot more financial freedom. The rent at most apartments designed for seniors should be reasonable, and there’s a good chance that monthly utilities will be reduced in a smaller place as well. The lower cost of living will help seniors feel like they don’t have to watch every dollar they spend. In fact, they may be able to save up some money for a frivolous purchase like a vacation, helping them to enjoy their golden years a little more.
Privacy with Company Nearby
Moving into a smaller place doesn’t have to mean losing one’s independence. A low-rent apartment will still give a senior the privacy that they crave, but at the same time they will also be living in close proximity to other people who are at a similar point in their lives. This will allow them to make new friends and socialize if they’d like to. In apartment complexes or communities designed for seniors, there are often activities and events that promote both social interaction and an active lifestyle, which may be a better situation than living alone in a big house isolated from people their own age.
AmenitiesAre desirable or useful features on/in a property or unit. Please Note: All the Amenities that are featured at a property is listed at the bottom of the individual property’s page under the “Ameni... More
Like any other apartment complex, low-income apartments for seniors should have certain amenitiesAre desirable or useful features on/in a property or unit. Please Note: All the Amenities that are featured at a property is listed at the bottom of the individual property’s page under the “Ameni... More available to residents that can help replace what is lost when they move out of their own house. It is common to have a fitness center, picnic area, activity center, or even an area where residents can plant a garden. The exact amenitiesAre desirable or useful features on/in a property or unit. Please Note: All the Amenities that are featured at a property is listed at the bottom of the individual property’s page under the “Ameni... More will vary from one place to another, but most will offer ways to help seniors keep busy and recreate the feeling of having their own home.
Home Maintenance
This may be one of the most appealing aspects of low-income apartments for seniors. At a certain age, it becomes too difficult to keep up with home maintenance. Things like shoveling the driveway, raking leaves, or mowing the lawn, become too difficult to do on a regular basis; and, paying someone else to do them just adds another monthly bill. Having all of these tasks and more included in rent can bring peace of mind to seniors. Of course, many people are stubborn and want to believe they can continue to do these types of things, but there always comes a time when doing such things yourself just isn’t worth it. At this point, a senior-living apartment becomes a great option.