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The increase in the aging population in the US, also known as The Silver Tsunami, translates into more demand for Assisted Living Facilities. If you want to partake in one of the most lucrative business opportunities of the coming years, start by learning what residential assisted living is.

Assisted Living 101

Assisted living allows tenants to remain as independent as possible. These places provide an environment that protects autonomy, privacy, and safety while continuing and promoting involvement with family and the community. An assisted living facility is also suitable for individuals needing minimal personal care. 

Note that while medication management and administration services are available, direct daily medical care is limited or absent at assisted living facilities.

Facts you need to know about Assisted Living Facilities.

 

They are not nursing homes.

An assisted living facility is not synonymous with a nursing home, as each comes with various amenities, costs, and medical standards. Nursing homes operate more on a medical model, providing medical care for those with severe physical and mental impairments. Assisted living is often the medium to nursing homes, with the aim to prevent or delay such placement. Living assisted entails supervision and assistance with activities of daily living (ADLs), medication oversight, and transportation.

It feels like home for tenants.

Contrary to the hospital feel of most nursing homes, assisted living residents may live in semi-private or private areas similar to apartments. The living arrangements often include a bedroom, bathroom, and kitchen area that allows seniors to feel at home. Assisted living spaces also offer extensive common living spaces and outside grounds where seniors can freely roam and interact.

Pets are allowed.

The allowance of cats, dogs, birds, and such is highly beneficial, as a study suggests that pets have a positive impact on the health of elderly adults, helping to reduce stress, lower blood pressure, and increase both social interaction and physical activity.

Learning doesn’t stop.

Assisted living facilities tend to offer numerous opportunities to study new skills, including learning computer programs, acquiring a second language, and other courses that trigger personal interest. That’s why they need to be following the changing amenities of a generation. 

Residents need and value space.

Activities and hobbies are abundant in assisted living facilities. These places often have large open areas so seniors can participate in variable fitness programs to improve their physical and mental health. Having fun is also very important.

Regulations vary by state.

State-specific guidelines may include the demand for care plans, medical care cut-offs, a requirement for leisure activities, and even a dementia training directive. Taking this into account when deciding to invest in assisted living will make your life easier.

Why assisted living facilities are a great business opportunity?

With the increase in population, there will be an increase in demand, which means that the senior living industry will have to expand to meet that demand. Expect to see senior living communities popping up all over the country – not just in typical retirement states like Florida and Arizona. Many seniors are moving away from these states and halfway back to their home states, even inventing a new retirement term, “halfbacks.” As the demand for senior living increases, senior communities will rise in rural and urban settings alike.