A desire to remain independent is the main driver for prospective senior living residents who say they would rather age in place in their homes than move into a congregate living setting, according to the results of a new survey.
Eighty-nine percent of aging adults responding to a survey by Today’s Homeowner said they want to grow old in their homes in the greater community. The survey had 1,000 adults aged 55 or more years participating and was conducted June 28 and 29.
The main motivation for aging in place at home, poll participants said, is maintaining independence (48%), followed by staying in a home where the mortgage has been paid in full (19%) and enjoying an affordable living situation (11%).
Much research shows that residents of senior living communities are happier and healthier than those who remain in the community at large, however.
For instance, in Mather Institute’s five-year Age Well Study, continuing care retirement / life plan community residents reported better physical, emotional, social, intellectual and vocational wellness than community-dwelling older adults.
And a summer 2022 report from the American Seniors Housing Association and ATI Advisory found that senior living communities improved quality of life during the pandemic through cohesive social environments and encouragement of residents to participate in social activities. Residents, the study found, were more likely to have greater social, physical and intellectual wellness than their counterparts living in the greater community.
Still work to do to change perceptions
But the International Council on Active Aging recently published a white paper showing a large discrepancy between how senior living professionals view the industry compared with the views of prospective residents and their adult children.
That white paper showed the industry has some work to do to change perceptions, including adopting an “autonomous living” approach, which would see the industry becoming more flexible in helping residents maintain their independence.
ICAA survey respondents expressed concerns about senior living: 57% said they were worried about affordability. Data from Genworth’s 2022 Cost of Care Survey showed the mean annual cost of assisted living in 2021 increased 4.65% to $54,000.
Additionally, 43.6% of ICAA survey-takers said they feared loss of privacy, 34.1% said they would feel old living in a senior living community, 30.5% said they were afraid of a loss of independence and 29.4% said that they found the atmosphere depressing.
A recent McKinsey Health Institute survey similarly found that highlighting efforts to help residents maintain independence may help senior living operators attract more prospects.
Results of a recent study from US News & World Report’s 360 Reviews revealed that 93% of aging adults surveyed planned to age in place, and they are using technology to help them do it.
