The number of old people in India is on the rise. According to the United Nations, it is projected to reach nearly 20 per cent of the total population of the country by 2050.

Retirement home, which is a relatively new concept In India, is gradually growing in popularity. However, there is less awareness and knowledge about it.

Globalisation of the job market, advanced medical services, and increased life expectancy are a few reasons behind the idea of these homes for the elderly. At present, this might seem like an atypical choice for senior citizens, but it could become a preferred choice in the future when there would be more dependents than dependable family members.

At present, most of these projects are located in south India, but they are slowly increasing in number in other parts of India as well.

Factors To Consider Before Selecting A Retirement Home

The purpose of a retirement home is to live there peacefully with a similar age community and enjoy the ageing golden years.

Says Ankur Gupta, Joint Managing Director, Ashiana Housing Limited, “One should see whether the home you are choosing matches your lifestyle. Also, food is very critical and must be to your liking. You can also check whether the chosen retirement homes are providing continuing care or not, which you may require in the future.”

If you are 55 years or more, you can go and start living there. However, below this age, you cannot live in it even if you have purchased one house for yourself as your retirement plan. So, plan accordingly.

Healthcare Services: It is the first and foremost need for everyone and significantly more so as one grows older. So, you should check that the medical facilities these homes claim to offer are in place. The availability and accessibility of medical facilities, including 24-hour ambulance service, nursing staff, and doctor on call, are something you must not forget to check.

Amenities And Charges: Besides basic amenities, such as power, security, and housekeeping, you need to explore and understand what other facilities these homes are providing.

These may include facilities, such as a common kitchen, or a catering facility, various recreational and community activities, and so on. You need to also check the maintenance facility and charges – whether they include everything or you would be required to pay extra for different services. Also, check how frequently the charges are increased, as this will be a regular payout and may prove to be a burden on your pocket.

Food: Food is the basic requirement, and as health issues increase with age, one may not be able to cook food for oneself. It becomes important that the food cooked and served in retirement homes is to your liking. Generally, people become particular about the food and the taste as they grow old. So, it becomes all the more critical to choose a retirement home where food quality, serving, and taste are to your liking.

Location And Ease Of Accessibility: Check the location of the project – how amenable the weather is, and how accessible it is from the nearest airport, railway station, hospitals, etc. Besides the weather, location, and accessibility, one can also check the design of these homes for things, such as sunlight and ventilation. These may seem small things, but makes a lot of difference once you start living there.

Cost Consideration: Retirement homes, just like other housing projects, come in the range of 1-, 2-, 3-BHK and villas.

“There are around 100 projects currently in India, and the cost for senior homes could range from Rs 30 lakh to Rs 6 crore across the types of homes offered by different developers,” says Gupta.

The real test happens when you start living in these homes. So, a good idea could be to take the retirement home you like on rent first, see if this suits your requirement, and then decide to own it.

Inheritance And Resale: The house bought in the retirement homes can be bequeathed to the children. So, the retirement home property is treated just like other property, but the children cannot live in it until they are 55 years of age.

So, before buying such a house, you should keep your age factor in mind. However, the house can be rented out to any senior citizen.

Security: Security is a necessity for senior citizens. One must ensure that the necessary security arrangements are in place and implemented strictly and that there is emergency care available in case of an accident.

Another important exercise one should consider doing is to talk to the residents living in the retirement home and learn about their feelings and experiences before selecting one for you.