A great many senior citizens living in AlabamaFrom the rolling mountains of the north to the pristine Mobile Bay and the Gulf of Mexico, Alabama is a state with natural beauty all its own. Since it was first settled, Alabama has largely been a ru... More today are faced with the constant challenge of finding comfortable housing that suits their needs without breaking their budget. Finding the best senior living homes in AlabamaFrom the rolling mountains of the north to the pristine Mobile Bay and the Gulf of Mexico, Alabama is a state with natural beauty all its own. Since it was first settled, Alabama has largely been a ru... More can feel a lot like looking for a needle in a haystack. Many retirement communities may resemble luxury resorts, but the truth is they also cost about as much as a luxury resort, being only affordable to high-income families or those with hugely successful investment portfolios.
Most seniors, we dare say, don’t fall into this category. Instead, they live on fixed incomes and tight budgets, with little wiggle room for conveniences or a social life—and yet, they are no less in need of those conveniences than anyone living in the expensive retirement communities. How do you make ends meet in that situation?
If you’re one of the seniors in this position, the good news is there are a number of ways to stretch your dollars farther, particularly when it comes to the cost of your housing. Some of the best senior living homes in AlabamaFrom the rolling mountains of the north to the pristine Mobile Bay and the Gulf of Mexico, Alabama is a state with natural beauty all its own. Since it was first settled, Alabama has largely been a ru... More not only provide the basic comforts and conveniences that seniors need, but they do so in ways that protect their income. Many such communities combine modest rents with a variety of government subsidies to keep costs down for seniors. Many are also located within walking distance to groceries, healthcare, and other 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, or provide easy access to public transportation. Even the social needs are met, as many of these communities host regular events and gatherings in their clubhouses.
So how do you find these hidden gems? Let’s take it a step at a time.
Determine your budget
The first thing to do before hunting for affordable senior housingA property that is reserved for people who are seniors. Please Note: the definition of "senior" may vary. As always, it is important to talk with the property manager and visit the property prior to m... More is to determine exactly how much you can afford to pay. A good rule of thumb is to budget no more than 30 percent of your gross income on your housing costs, including rent and utilities. (This is the government’s definition of what makes housing “affordable.”) Take a look at all your income streams, including retirement funds, 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, Social Security, disability and any other sources of income. Thirty percent of that amount is what you can reasonably afford. Also, make a list of your current expenses. If you find you can’t set aside 30 percent for housing, start looking for ways to cut those other expenses until you can.
See if you qualify for benefits
If you discover your monthly housing allocation is too small for the average rent in your area, don’t despair; you may qualify for a number of government programs aimed toward helping low-income households, especially seniors. If your monthly income is around 50 percent or below of the Area Median Income (AMI), for instance, you may qualify for the Section 8The housing assistance payments program that implements Section 8 of the United States Housing Act of 1937. More voucher program that can make up the difference in rent, ensuring you pay no more than 30 percent of your monthly income out of pocket for housing. Check with your local public housing authority to see whether you may qualify for one or more of these programs.
Research other affordable housing options
If you don’t qualify for Section 8The housing assistance payments program that implements Section 8 of the United States Housing Act of 1937. More, or if there is a waitlist, there are still other options available, thanks in part to other affordable housingIn general, housing for which the occupant(s) is/are paying no more than 30 percent of his or her income for gross housing costs, including utilities. Please note that some jurisdictions may define af... More programs that work with developers rather than tenants. In many areas, builders, developers, and property companies can receive generous tax incentives for designating a portion (or all) of their units as affordable housingIn general, housing for which the occupant(s) is/are paying no more than 30 percent of his or her income for gross housing costs, including utilities. Please note that some jurisdictions may define af... More and senior-friendly housing. These units are made available at well below market valueMarket Value is the value of the asset on the open market. More, and the income requirements to qualify for these units are usually more relaxed than Section 8The housing assistance payments program that implements Section 8 of the United States Housing Act of 1937. More. Check with your local public housing authority to inquire about affordable senior housingA property that is reserved for people who are seniors. Please Note: the definition of "senior" may vary. As always, it is important to talk with the property manager and visit the property prior to m... More in your area, and to find out the qualifications.
Check directly with an affordable housing management company
At Olympia ManagementOlympia Management, Inc. exists to meet the needs of the affordable housing community by providing top-quality living conditions, excellent management, compassionate interaction with tenants, and cons... More, Inc., we specialize in affordable housingIn general, housing for which the occupant(s) is/are paying no more than 30 percent of his or her income for gross housing costs, including utilities. Please note that some jurisdictions may define af... More for seniors and low-income households. Reaching out to the company can give you a more direct look at available housing in your area, and the management company can also steer you toward local housing agencies to help you qualify for any assistance you need.
Olympia ManagementOlympia Management, Inc. exists to meet the needs of the affordable housing community by providing top-quality living conditions, excellent management, compassionate interaction with tenants, and cons... More, Inc. offers comfortable, convenient and affordable senior living homes in more than a dozen neighborhoods in cities across AlabamaFrom the rolling mountains of the north to the pristine Mobile Bay and the Gulf of Mexico, Alabama is a state with natural beauty all its own. Since it was first settled, Alabama has largely been a ru... More. To learn more about how to make your new home in one of these communities, call us today at 256-894-2382 or visit our website.