The Differences Between Independent Living and Assisted Living Facilities
If you’re seeking to buy healthcare properties, there are a few different options to choose from. There is unlimited growth in the seniors housing marketplace with unsatisfied needs in independent living, assisted living, skilled nursing, and other seniors housing facilities.
Depending on the facility, each type is designed to meet the specific needs of the residents. These needs are often based on medical assistance, community, care level, or living costs. To differentiate between independent living facilities and assisted living facilities also comes down to discretionary wants versus necessary needs.
Independent Living Facilities are Not Licensed in California
Independent living facilities are not required to provide medical assistance to residents and are not licensed in California. Because of this, residents who choose to live in an independent living facility are not necessarily required to be there.
Choosing to live in independent living is generally a decision made by those looking to cut down on their living costs or housework. Many seniors would not like to continue maintaining the home that they raised their children in, and would rather live in a community tailored to their new needs and interests.
Though medical assistance is limited, independent living facilities provide meals and housekeeping services.
This type of seniors housing is voluntary so that if costs at the facility rise, seniors can decide to leave and find something more affordable. Recently with the downtrend of the economy, this was exactly the case.
Assisted Living Facilities are Need-Driven
Contrary to independent living, assisted living facilities are licensed in California for medical assistance and are regulated under the Department of Social Services. In addition to providing meals, housekeeping, and daily assistance with activities, these facilities provide medication management and incontinence care.
The seniors who move into these facilities often have limited choices for caretaking. These seniors are continuously in need and consequently seek residence in assisted living facilities – causing this type of seniors housing to be recession-proof.
Whether it is an independent living facility or an assisted living facility for sale, both are ordinarily available to purchase for new operators and owners. Well-performing assisted living facilities for sale can be found through good research and the right seniors housing brokerage.
The Assisted Living Brokerage that Finds Deals For You
The Stahler Group is an experienced team that constantly finds high-quality deals. Our team, as the leading seniors living brokerage of California, can guide you to buy a healthcare property at the correct time. We can find you the best operator or facility whether you’re a buyer or a seller. Our team offers complimentary assessments and confidentiality is our main priority.
For more information about how The Stahler Group can help you buy an assisted living facility, contact us today.