Retirement home

A retirement home.

A retirement home – sometimes called an old people's home,[1] although this term can also refer to a nursing home – [2] is a multi-residence housing facility intended for senior citizens. Typically, each person or couple in the home has an apartment-style room or suite of rooms. Additional facilities are provided within the building. This can include facilities for meals, gatherings, recreation activities, and some form of health or hospice care.[3] A place in a retirement home can be paid for on a rental basis, like an apartment, or can be bought in perpetuity on the same basis as a condominium.[4]

A retirement home differs from a nursing home primarily in the level of medical care given. Retirement communities, unlike retirement homes, offer separate and autonomous homes for residents. And these homes can be in many forms and sizes depending on the type of property you are looking for. And the great part about such Retirement Homes is that these homes are in complete accordance with the housing market prices, meaning that if you buy a retirement property, it can be a sound financial investment for you if you're looking to sell it in the future. You will generally find retirement homes within a dedicated retirement village, where you can connect with other like minded individuals. This is just another added benefit to living in a retirement village, in that you can connect with others who are on the same page as you. [5]

United States

The number of retirement homes has been increasing in the United States, from almost 11,000 in 2003 to 12,000 in 2010. The market size for retirement homes has had a much greater growth rate, from $13.5 billion in 2005 to $17 billion in 2010, with California being the American state with the largest market size.[6]

See also

References

  1. ↑ "old people's home - Definition and pronunciation | Oxford Advanced Learners Dictionary at OxfordLearnersDictionaries.com". Oald8.oxfordlearnersdictionaries.com. Retrieved January 12, 2013.
  2. ↑ "old people's home - Definition from Longman English Dictionary Online". Ldoceonline.com. Retrieved January 12, 2013.
  3. ↑ "What Is Nursing Home Quality and How Is It Measured?". Ncbi.nlm.nih.gov. Retrieved 9 February 2014.
  4. ↑ "What is a Retirement Home?". Retrieved 9 February 2014.
  5. ↑ "UK Residential Retirement Park Homes & Village - The Elms". The Elms. Retrieved 2016-03-22.
  6. ↑ "Pell Research Report on Retirement and Nursing Homes". www.pellresearch.com. Retrieved January 12, 2013.

External links

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