Turns out, boomers want to live more like millennials in their golden years...
Louise Rausa, 72, lived in world-class cities including Paris and New York, and she spent part of her adulthood in co-housing communities in the western United States where residents shared a kitchen, garden and outdoor space.
The downsides? “There could be more grab bars [for support], and the rent goes up about $35 a month every year. For [neighbors] on a limited income, that does not keep up with COLA [the annual cost-of-living adjustment].” Many of today’s best available senior-housing options are really a nod to the past: higher-density locales, homes suited for multiple generations, and community support and stimulation that keeps retirees active and healthy.
The needs and likes of these age groups aren’t so varied. In fact, it’s where, as much as how, seniors live that may take a page from the millennial and Generation Z handbook: a migration back into cities and denser suburbs for an active lifestyle and readily available services, according to architecture firm Perkins Eastman.
What’s more, builders and remodelers in urban, suburban and rural destinations alike are increasingly meeting seniors where they already live, creating space to entertain grandchildren, installing the bulk of kitchen storage at reduced heights and creating barrier-free entries that are seamless with the landscape, says O’Connor of 55 Plus in Massachusetts.
The Massachusetts Institute of Technology Age Lab, in a report, showed that for a single 85-year-old homeowner living without significant physical or financial distress and without a mortgage, the total cost of living at home using sharing-economy services for one month was $2,967. Compare that with an assisted-living model in the Boston metropolitan area , which runs $6,433 a month.
‘Aging in community’ Many seniors say they prefer “aging in place” instead of moving in with family or packing up for multistage assisted living. Amy Schectman, chief executive officer at 2Life Communities, which serves the housing needs of about 1,500 mostly low-income seniors in the Boston area, says “aging in community” is more important. That’s because isolation is a serious health danger. It’s a bigger threat than obesity and smoking, and can double the rate of dementia, she says.
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