May 23, 2024

sebastianpremici

always trying new things

Getting Ownership of a Property in an Old-Age Home While Enjoying All the Amenities

senior citizens: Things to consider while choosing a retirement home - The  Economic Times

Introduction

The term old age homes in Indian premises is still relatively cosmopolitan in nature. Some people still believe that old-age homes are the sites where the poor, penniless elderlies end up spending their final days uncared for and mistreated.

Give yourself a break from these obsolete thoughts if you’re one of the folks who still believe in this sort of thing. You’re completely misreading the situation. 

Nowadays, luxury old age homes in Kerala or even retirement care communities are the places where the elderly receive the best services and adequate care to live independently.

They not only have individual liberty, but they are able to keep the sparkle in their lives alive. So, all you need to do is completely alter your perspective, and then you will be able to get a better understanding of the situation.

What are some of the facilities available in these old-age homes?

The services at these luxury old age homes in Kerala are improving day by day. The locals and the NRIs have begun to favour these old age homes as places to stay during the senior years. The main reason behind this changed situation definitely goes to the facilities available. 

To begin with, the lodging amenities at these luxury old age homes in Kerala are of excellent quality and hygienic. Air-conditioned rooms with premium beds and associated bathrooms are available in the posh ones.

Technology can sometimes improve your stay in an old age home. Your curtains will close with just one order from the comfort of your bed. Yes, that is the current state of affairs in these facilities – since a lot of them are voice-controlled or have remote assistance.

Retirement homes are the answer if you’re looking for convenience and comfort in your golden years. 

Moreover, these organisations are attempting to improve their culinary talents to deliver more tasty and nutritional diets. You can obtain everything from grand dinings to personalised meals in these residencies.

Stop worrying about the healthcare facilities. There is assistance available 24 hours a day, seven days a week for medical emergencies. You can even hire a personal caretaker for yourself, and it will be their responsibility to keep you fit, performing, and healthy all the time. No more forgetting to take your medications or having health problems.

What is the market size of these old-age homes?

Since it has been noted so many times that paid old age homes in Kerala are enhancing their services, you should be interested to see whether these upgrades are actually assisting the owners of these facilities to make a profit. To understand the profit ratios, you must first determine the market size of these senior living facilities.

Citizens who have already reached the age of 60 are referred to as “seniors” in India. Since 1950, the population of this section has gradually increased. In 2001, the Indian Census counted roughly 7.6 crore senior adults, rising to 10.4 crores in 2011.

An ‘ageing society will replace the ‘youth bulge’ that India is experiencing today due to this ageing phenomenon. “The fairly young India of the present will evolve into an increasingly ageing society in upcoming years,” according to the United Nations Population Fund (UNFPA) in 2017.

As employment levels rise, a more significant proportion of these senior adults are becoming economically self-sufficient and prepared to pay for facilities and services linked to their physical, medical, and psychological requirements. Senior folks are increasingly opting to live in commercially designed and professionally managed facilities known as “Retirement Homes.”

Residents, how do you like the idea of getting ownership of the property during the stay in these old-age homes?

So you’ve grasped both the expressive and economic aspects of these paid old age homes in Kerala by now. It’s been discovered recently that there’s a new tendency among the residents of these old-age homes. In fact, it is growing to be one of the trends in the southern parts of India.

Residents are usually free from specific services or other business/job-related activities at this time, and they like to engage in certain economic activities to earn some extra money on their own.

When you stay in a retirement home, you get to enjoy the facilities over there and gain the ability to assess how excellent or worse their services are. So, you can quickly gauge the position of that old age homes in Kerala in the Indian market.

This gives you a pretty good chance to put your luck to the test by procuring a piece of the property in these paid old age homes in Kerala. If you are one of the people who has just been a part of these groups under the short-term plan, it is ideal for you to try this out. You can purchase the property now and enjoy your stay afterwards, or you can use the property for a business purpose. Real estate is a booming market. Those elderly who have a knack for business even in their senior years can try their luck by acquiring ownership of a particular portion or the entire luxury old age home. 

Remember that when you invest in these properties, you’re not buying land; you’re buying a lifestyle. So, think carefully. You will be able to use your ownership rights and participate actively in an organisation that serves hundreds of people just like you.

You will obviously score well on the money. The market size of these retirement homes will only increase your profits. And, in terms of your contentment, your choice will be one of the most humane ones you’ve ever made in terms of investment. So, purchasing a property during your stay in old age homes in Kerala is one of the best decisions you can make for yourself in your senior years.

Conclusion

We’ve attempted to focus on two elements in this article: the vitality of an old age home for a resident, and how it seems like an opportunity for you as an owner. Trust us when we say that both arguments sound fantastic. If you’re considering trying out something new for investment purposes, go for it.

Many luxurious old age homes in Kerala, such as the Travancore Foundation, have trustee boards that grant ownership opportunities to residents. Now, try your luck as a resident and an owner simultaneously.