Important information to consider before investing in a senior home

The Virtuoso Columbia Pacific Communities in Bangalore is becoming a popular choice for senior citizens in India. Vinod Dhingra, a 78-year-old resident, decided to move into the senior living facility when he turned 75 after losing his wife. Dhingra wanted to ensure he had someone to take care of him during his sunset years. The concept of senior living in India is still in its initial stages but is becoming a trend as more seniors opt for professionally managed facilities to eliminate everyday inconveniences.

The surge in demand for senior living can be attributed to factors such as extended life expectancy, rising incomes, the prevalence of nuclear families, a desire for enhanced amenities, and improved decision-making capabilities during retirement. Senior homes provide a range of facilities and services designed to cater to the needs of seniors. These include food services, healthcare support, assisted living, and various recreational and socializing activities.

Healthcare is a significant focus for senior living projects, as elderly individuals are more likely to have health issues. Medical facilities such as ambulances, regular check-ups, tie-ups with hospitals, and round-the-clock medical staff are typically provided. The community aspect is also emphasized, with senior housing projects creating a sense of belonging among like-minded individuals.

There are several senior living projects in India, including Paranjape Athashri, Covai Care, Ashiana Senior Living, Columbia Pacific, Bahri Estates, Oasis Senior Living, Aamoksh-One Eighty, Antara, Primus, Tata Housing, Brigade, and Ananya Shelters. The financial aspects of senior homes vary, with options for outright sale or rentals with security deposits and monthly charges. The prices range from as low as ₹30,000 to ₹1 lakh per month, depending on the facilities and type of occupancy.

When investing in a senior home, it is essential to consider factors such as location, amenities, financial models, and the reputation of the community. Conducting a comprehensive background check on the developer and operator is crucial, as well as examining their reputation and track record in managing senior living facilities. The community should prioritize caring for and serving its senior residents, providing security, freedom from everyday worries, and opportunities for social engagement.

Residents like Vinod Dhingra appreciate the clean food, medical care, specialists on-call, and friendly staff provided at senior living facilities. The goal is to make the later years joyful, rewarding, and empowering for seniors, ensuring an enhanced lifestyle and peace of mind for their families.

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