A retirement home – sometimes called an old people's home or old age home, although old people's home can also refer to a nursing home – is a multi-residence housing facility intended for the elderly. Typically, each person or couple in the home has an apartment-style room or suite of rooms. Additional facilities are provided within the building. This can include facilities for meals, gatherings, recreation activities, and some form of health or hospital care. A place in a retirement home can be paid for on a rental basis, like an apartment, or can be bought in perpetuity on the same basis as a condominium.
Retirement homes offer meal-making and some personal care services, according to ARCO. Assisted living facilities, memory care facilities and nursing homes can all be referred to as retirement homes. The cost of living in a retirement home varies from $25,000 to $100,000 per year, although it can exceed this range, according to Senior Living Near Me's senior housing guide.
In the United Kingdom there were about 750,000 places across 25,000 retirement housing schemes in 2021 with a forecast that numbers would grow by nearly 10% over the next five years.
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- Media related to Retirement homes at Wikimedia Commons