Well being and financial resilience: the hidden benefits of living in a retirement community
Posted 11th October 2023
Well Being Benefits from Living in a Retirement Community
As World Mental Health Day (10 October) shines a light on mental well being we’re highlighting the benefits of living in a retirement community and how it can provide a real boost to both mental and physical well being, as well as give financial security.
We recently conducted our annual customer survey and a staggering 60% of our residents said that moving to a retirement development made a positive difference to their mental health. Plus nearly 50% said it made a difference to physical health.
The sense of belonging, social interaction, and shared activities within retirement communities can significantly combat feelings of isolation and depression often associated with ageing. Around three-quarters of our residents live alone and being part of a community can be really beneficial for those that live alone, as well as couples.
Independent Living with Community Support
While our properties are all about independent living, the communal lounges and gardens give people the opportunity to socialise if they want to. Most organise social activities such as coffee mornings, fish and chip suppers and bingo nights, as well as outings to nearby attractions.
This has led to a third of our residents reporting being more socially active since living in a retirement community, which is great. Even if people choose to get involved in the social side of living in a retirement community simply knowing there are people close by can be really reassuring.
This was particularly true during the pandemic and we saw people helping each other out and pulling together as a community during the lock downs, which really helped people get through it.
People can also get involved with gardening and some of our residents enjoy helping out to maintain the lovely gardens that most developments have. Some have even grown vegetables. This can boost both mental and physical health through the activity and being out in the fresh air.
Our research has also revealed that people’s biggest concern about their retirement is the rising cost of living. Having financial worries can impact mental wellbeing, as people can find it increasingly difficult to sustain their lifestyle as expenses continue to rise and can be concerned about the future.
Living in a retirement community can help and almost a quarter of our residents have reported that moving into their current home has improved their financial situation. Renting can help people to budget as they know what their outgoings are each month. There are also no unexpected maintenance or upkeep bills that can surprise homeowners.
With mental health in the news just now we’re reminded of the essential role our living environment plays in overall wellbeing. Retirement communities not only offer the opportunity to have a vibrant social life, but can also help with the financial challenges that can often accompany retirement.
Living on a pension can mean budgets are tight. Our properties are affordable, friendly and in desirable locations so people can feel part of a community, both in the development and within the wider area. They provide a great housing option for retirees to have a comfortable, enjoyable and fulfilling retirement!