Choosing between a condo and an apartment for elderly living
“My mom isn’t able to take care of her property anymore and was considering moving into an apartment. Do you think that’s wise, or should we just pay for grass and snow maintenance, or get her into a condo?
When it comes to deciding where to live during their golden years, elders often weigh the options of condos versus apartments. Both offer benefits, but understanding the differences can help make an informed decision tailored to individual needs.
Condos typically provide a maintenance-free lifestyle, with services like lawn care and exterior upkeep included in monthly fees. This can be a boon for elders seeking to minimize responsibilities and enjoy more leisure time. On the other hand, apartments often come with on-site maintenance staff, offering similar conveniences without the additional ownership responsibilities.
Condos often foster a sense of community through shared amenities such as fitness centers, social spaces, and planned activities. For elders looking to maintain an active social life, condos may offer more opportunities for interaction and engagement. Apartments, while they may offer similar amenities, may not foster the same sense of community due to a higher turnover rate among tenants.
Condos represent ownership, allowing residents to build equity and potentially benefit from property appreciation over time. This can be appealing for elders seeking to invest in their future or leave a legacy for their heirs. On the other hand, apartments offer flexibility with less commitment, making them suitable for those who prefer to avoid the responsibilities of ownership or are uncertain about long-term plans.
Both condos and apartments can be designed with accessibility features such as ramps, wider doorways, and grab bars to accommodate the needs of elderly residents. However, condos may offer more customization options for individual units, allowing residents to adapt their living spaces to specific mobility requirements.
Costs vary depending on location, amenities, and market conditions. Condos may have higher upfront costs due to down payments and association fees, but they can offer long-term savings compared to renting. Apartments typically have lower upfront costs and may include utilities in the rent, but rental rates can increase over time.
“I definitely wouldn’t want to just move her into an apartment. One feature of condominiums that I like is the wheelchair accessibility. In the unlikely event that she needs a motorized wheelchair, walker, or other assistance later on, she will already be able to access it. The doorways and hallways are sufficiently spacious. When she lives at home, there may be a few steps leading up to the front door, grab bars aren’t there, etc., but in a condo, everything is accessible, including the pool and other areas. That might appeal to her more.”
The decision between a condo and an apartment for elderly living depends on individual preferences, financial considerations, and lifestyle priorities. Whether seeking the sense of community and ownership offered by condos or the convenience and flexibility of apartments, elders should carefully evaluate their options to find the best fit for their needs and preferences.