Senior-living communities must offer a complete solution for the needs and requirements of the urban, middle-class/upper middle-class segment of the population. Regrettably, this sector suffers from two major misconceptions.
First, these communities are, unfortunately and undeservedly, regarded as a refuge for the abandoned and unloved. With an increasing number of senior citizens living alone, well-designed and well-managed senior living communities are becoming the preferred option for families.
Second, the public, at large, views senior living communities through the real estate paradigm. Senior living communities are differentiated in their positioning by the quality and variety of the services on offer, rather than the quality and pricing of the asset.
One must appreciate that the decision to move to a senior living community is not driven by the desire to move to a bigger or better home but by the required services and desired lifestyle.
The term ‘luxury’, as it applies to residential projects, connotes larger homes, the use of expensive materials, such as highly polished marble and granite, and multiple car parking spaces. However, ‘luxury’ for senior living communities pertains to the thoughtful design of the project that supports changing physical capabilities and the requirements of the residents.
Nonetheless, no senior citizen considers moving into a senior living community. The driver for their relocation is the need for easy access to services that they may need today and in the future.
Hence, it is the range, variety and depth of these services that dictate the monthly payout to the service provider, which, in turn, defines and differentiates the luxury segment resident from the mid-market demographic.
There are three essential promises that a well-managed senior living community should deliver:
- A zero-headache lifestyle: Residents of senior living communities should be liberated from daily chores and activities. This would allow them the freedom to pursue hobbies and interests without any worries.
- 100% peace of mind: The 24X7 presence of paralegals, a daily visiting doctor, periodic health campsand regular assessment of physical and mental health ensures that both the residents and their families sleep peacefully knowing that their medical needs are being monitored. In the unfortunate event of a medical emergency, a 24×7 ambulance on the property and well-nurtured relationships with the nearest hospitals will ensure speedy and seamless access to medical expertise and infrastructure.
Also read about how to make your home senior friendlyÂ
- Positive Ageing: One of the underappreciated aspects of senior living communities is the fact that residents are, on average, healthier than seniors living on their own or in mixed-family condominiums. The credit goes to the active social environment and various organized activities that keep residents physically fit, mentally alertand intellectually stimulated, ensuring a long and healthy life.
The desire to be amongst PLUs (People like us) is an age-old human need. It is this innate human trait that underlies the phrase, ‘birds of a feather flock together’.
Hence, luxury senior living communities are differentiated from those in the mid-market by the personalisation and customisation of the facilities, amenities, services and support delivered by the service provider to the residents.
(The writer is CEO, Columbia Pacific Communities)
