We acknowledge that some 50+ aged households may opt for apartment living, in part as an affordable option compared to LIfe Care communities or maybe with an eye towards delaying the high out-of-pocket assisted living costs for as long as possible.
Or, for the article’s reasons, at least two of them anyway: Convenience and Concierge services. A lot of us are tired of home maintenance or at least parts of it. Apartments take most of that off the table. Many market-rate apartments offer garbage pick up and package receipt, exercise rooms, etc. And many newly built development projects have pretty accessible common use spaces and more usable apartment interiors as well. For a certain cohort, who don't have the funds for an ownership situation, or who want to invest their money in higher liquidity options, who want a more social environment, or who just don't want the hassles of home maintenance, multi-unit rental might be an option.
For full Washington Post article click HERE