Independent Living and Assisted Living Facilities
When searching to buy healthcare properties, there are several different types from which you can choose. Right now, the senior housing marketplace is one of the industries promising unlimited growth with unquenchable needs in independent living, assisted living, skilled nursing and other senior housing facilities.
Many of these homes and facilities are designed to meet particular preferences or needs of its residents, whether that is based on community, medical assistance, living costs or care level. More specifically—and importantly to buyers, sellers and operators—distinguishing independent living from assisted living facilities boils down to discretionary wants versus necessary needs.
Independent Living Facilities are Not Licensed in Most States
Independent living facilities are not licensed in most states and are not designed to provide any type of medical assistance to its residents. For this reason, those who choose housing in independent living facilities do not necessarily need to be there.
Opting for independent living is usually a choice made to cut down on living costs, maintenance and housework. Seniors who would rather not spend time maintaining their large home where they raised their children in the past have the opportunity to live in a community of peers in an environment tailored to their specific needs and interests.
Independent living facilities provide housekeeping and meal services though medical assistance is limited, as they have no license that permits assistance with medication and daily living activities.
Because this type of senior housing is completely voluntary, once costs rise seniors can choose to leave for more affordable housing. This was the case recently with the downturn of the economy, where independent living facility operators were hit hardest.
Assisted Living Facilities are Need-Driven
In most areas assisted living facilities are typically regulated under the Department of Health or Social Services and are licensed for medical assistance and management. These facilities provide meals and housekeeping, help with daily activities, medication management, and incontinence care in addition to general independent living facility accommodations.
Seniors who move into these facilities oftentimes have little choice of other resource for care-taking. Despite its affordability—or lack thereof—seniors in need continually seek residence in assisted living facilities, making this type of senior housing nearly recession-proof.
It is worth noting that whether it is an independent living or assisted living facility for sale, both are routinely available for purchase for new operators and owners. Assisted living facilities for sale that are performing well are discover-able with research and the right senior housing brokerage.
The Assisted Living Brokerage that Finds the Deal for You
Our team at The JCH Group is composed of seasoned experts who consistently score high quality deals. As a leading senior living brokerage in the United States we can help you buy healthcare properties at the right time and meet the right people.
Whether you are a seller or a buyer, we will find you the best operator or facility. We offer free assessments and never disclose private information prior to executing a confidentiality agreement.
For more information about how The JCH Group can help you to buy an assisted living facility, contact us at your convenience.
It was really helpful to read all of the things that independent living facilities can provide to seniors as forms of assistance. Housekeeping, in particular, is hard for my mother because of how picky she is with cleanliness. I’ll make sure I make this easier for her by finding an independent living facility that she can stay in.