Home Sweet Home – Senior Living Alternatives

Once upon a time, the aim of almost every adult New Zealander was to own their own home on the traditional ‘quarter acre section’ and to remain in it as they aged. But those times have changed. Now, many retirees are exploring new concepts of home ownership, while others are choosing to be renters or to explore alternative models of housing. This is why, in the coming months, Grownups will be taking a look at what housing options are available to seniors, and where you can find more information to help you consider what’s right for you.

If you’re currently living in your family home, and are considering future proofing it, or if you’re looking for a different living option, congratulations for being a realist. Many seniors make the mistake of assuming their current, unmodified home, will be adequate for them as they age, and if and when it no longer is, they will either make the modifications or move at the time. But these options aren’t necessarily realistic.

Moving home isn’t for the faint hearted, and it can be especially difficult for seniors who have half a lifetime of accumulated possessions to deal with, and less energy to do so. Modifications to a home take time, but these changes are often required immediately, and during a health crisis when you may not be well enough to project-manage them. As for moving to an aged residential care (ARC) facility, you may be waiting a long time for the opportunity. Statistics NZ tell us, in 2023, only 5% of seniors in the 65-84 age bracket were in ARC. While this may sound like good news, bear in mind many more seniors may wish to choose this option if it was available. However, spaces in ARC are limited, and the criteria for accessing a place can be stringent.

Fortunately, New Zealand has a number of home ownership options for seniors to consider. They include the more traditional concepts of modifying a present home, down-sizing to a smaller property, or buying in a retirement village situation. Even within the home ‘ownership’ category of living solutions, there are a significant number of alternatives. They include co-housing (where people own their own homes on communal land, and share a range of facilities), and unit title ownership (where you own a home on a site including other properties, and legally manage the properties and grounds in tandem with other owners). Some seniors are choosing to move a tiny home onto a property they own or co-own with adult children, while others are living in a self-contained unit in a house which they jointly own with family. Still other home owners own relocatable dwellings such as mobile-homes or caravans (which may or may not remain stationary).

Home ownership aside, more seniors than ever are choosing to rent in retirement, a trend which is growing. In fact a recent estimate by Te Ara Ahunga Ora (the retirement commission) suggests “more than 600,000 New Zealanders aged 65 and over may be renting in the private rental sector by 2048, a 100% increase on 2022 levels.” The private rental market is only one rental option, seniors are also renting from community providers such as councils, Kāinga Ora, and, Māori based initiatives. Others are contributing to a family home where they live in an intergenerational setting, and some are ‘flatting’ with other seniors in a shared rental.

Housing options for seniors have never been more varied, but one thing is certain: there has never been a better time for considering your future home, than now!