Real estate is a big business in much of the world. As people grow older the needs for real estate (a place to call home) changes. There lifestyle change and their need to a particular type of home also changes.|
In most cases, these aging citizens are able to care for themselves, and do not require nursing, hospice or health aides of any sort. But, just as often, they have chosen a given site to live because the option to transition into more intense care is possible. In some of these full-care venues, the preferred tenant is someone whose prospects have not dwindled, but who expects to live another fifteen to twenty years.
With people wanting to move to these retirement venues at earlier points in their life, some of the most popular venues for full-care housing have to scramble to create space to meet the demand.
A system based on a couple or a single tenant having to stay on a waiting list for a condo space until a current tenant had to resituate to a more intensive care unit within the complex is not a good system. In many cases, such potential residents had to shuffle their home situations by either selling their houses prior to having a guaranteed space in the complex, or by waiting to sell their houses until they were in. In the latter case, the process of selling a home took longer than the time to move into the units these tenants bought, causing them to have loose ends untied for months, or even years.
We need a system where we provide adequate housing for the elderly that enable them (and ultimately all of us) to transition from one phase of our lives to the next and this will involve real estate and the selling of real estate.