It’s been demonstrated that senior citizens are a vulnerable group for COVID-19 and experience worse symptoms, with 73.6% of COVID-19 related deaths being those age 65 and over. It’s important to keep them safe and isolated. Senior living communities, on the other hand, are often multi-family. Even though they do frequently have health care workers on-site, that doesn’t negate the proximity to other people. This means fewer seniors are going to want to live in a senior living community if they can avoid it, instead living at home.
Those not yet at the normal retirement age have also had to change their plans. Some purposefully retired early in order to lessen their exposure to COVID-19. Others were unfortunately forced into early retirement, as a result of losing their job at an age when it’s near impossible to re-enter the workforce. These groups will also be living at home. They’ll be hoping to later sell, but in the meantime will suffer from reduced or no income and have no guarantee of getting a good price when they do eventually sell. This in turn impacts other age groups, as more homes are occupied and unavailable for purchase by first-time prospective buyers, especially with residential construction being inadequate.
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More and more seniors are looking for a financially viable way to retain their independence as long as possible. Co-living is a promising solution, which means finding the right housemate for you. Here are a few tips to help, taken from an article in the July/August 2020 edition of NAR’s senior newsletter.
Don’t limit yourself to only looking for other seniors to be your housemate. College students are often looking for co-living situations as well, so such an arrangement could be mutually beneficial. You may look for other types of individuals that are not usually home, such as business professionals or frequent travellers. It’s okay if you and your housemate have differences. Learn to appreciate those differences and enjoy your time together.
Make sure they aren’t too different, though. Take the usual precautions to determine whether you and your housemate are compatible, such as shared interests, lifestyle, and privacy expectations. You and your housemate should complement each other’s strengths and weaknesses. Your safety is also important — meet first in a public place, have friends with you, get references and maybe even a background check or credit check.
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