Amit Shevade, resident of Mumbai and an IT professional at 39 bought a retirement home, which he liked and tried out. The fact that it is in Pune, which is close to Mumbai and has modern amenities, was the clincher.
“I thought it is also important to plan a life after retirement. Buying a house post retirement might not be always possible and hence I decided to buy the house while I am working,” said Amit.

The proliferation of retirement homes and communities has resulted in real estate developers focusing on this segment. The interest levels on such home are also on the rise. Considering many will be living in these homes for a couple of decades, it is important to check on every necessary aspect before going ahead with a property. Here are 6 things that you should keep in mind when zeroing in on a retirement home.

Location: Look for a place that will suit you in retirement and has the necessary infrastructure such as hospitals, airports and railway stations. It may help if it is accessible for close family and is climatically suitable to you.

Needs: Today when you are buying a home you may be fine with a community that does not have an in-house healthcare facility. However, when you actually move in later in life, you may need such facilities. Explore facilities that have future needs taken into planning such as recreation options and even facilities within the community such as libraries and film clubs.

Assisted care: Increasing longevity also comes with its share of health-related complications. While senior homes and communities have healthcare facilities on campus, do check for provisions on facilities necessary for assisted living.

Costs and expenses: Check the money that you need to pay and also any annual charges. More than the structural costs, get a grip on the costs you will entail when you stay there. Expenses on food, facilities and anything in future that may crop up such as a full time nursing staff should be factored in.

Trial run: Considering the mushrooming of retirement homes, it will be a good idea to not just look around but also try and stay at some of them. Not only will you get the real feel before you make the purchase, you may also discover issues when staying over from other inhabitants or on your own.

Ownership: Retirement homes come with different options—you own the place, you can transfer it in your life time and there are combinations where you can sell the place to anyone or the developer. Each option comes with its share of complications. Understand and zero in on one accordingly.

shipra@outlookindia.com