If you have been tasked with looking into senior housing for a loved one, then you know that there are often long waiting lists to get into a quality facility. And in fact in some areas of the country there are even waiting lists to get into some of the less desirable facilities. A big part of the reason for this is that modern medical care has extended the life expectancy substantially over the last century. In 1970 the average life expectancy was just over 70 years old and by 2015 that number had increased to almost 79 years. That increase means that many more Americans will be needing assistance later in life and that has resulted in a huge demand for a senior living developer services.
Developers are finding that there is a huge potential for growth in the senior housing market, especially in independent living, assisted living and memory care. There is clearly a growing demographic who are in need of these services. To fund this growing need, investors are flocking to funds that are focused on senior living development. The projected return on investment is thought to be very promising and the over $400 million that has already been invested only speaks to the popularity and security of additional investments.
An added benefit is the management approach that senior living developers are taking. They are not simply looking to build apartments or hospital like facilities that will act as a holding area for older adults who can no longer live at home. The approach is much more compassionate. Physical improvements are being made to existing facilities and every effort is being made to offer seniors an improved quality of life in their new home. In the past senior living was always viewed from a dollars and cents perspective and this new human view is a refreshing approach to providing older adults with a quality living facility, the care that they need and a access for all who need the services.
It is never easy to face an aging parent and convince them that it is time to move to an assisted living facility or senior housing. Older folks often view this as giving up their last bit of freedom and independence and they can be very much against the idea. Having adult active communities and quality options can make it much easier to convince a parent to give the new home idea a try.
The newest facilities that are being built offer amenities that look more like a resort than a senior apartment community. Residents can enjoy on site activities as well as day trips and even longer outings. And you will know that your loved one has help nearby whenever it is needed. That peace of mind is huge for you as well as your parent. Thanks to the great senior living developers, high quality facilities are being built at record pace. It’s a great investment for consumers who want a significant return and for the families who benefit from the facilities and services that they offer.