According to a recent AARP study, three out of four adults age 50 or older want to stay in their homes as they age. What exactly does it mean to “age in place?”

“Aging in place” doesn’t necessarily mean staying in your current home. It means staying in the right home. The options are wide open; the home you live in now could be modified to meet your current and future physical needs, or it may be best to find a new home that fits the bill completely.

Condominiums can be a great choice for aging in place as they are most often low maintenance, and many communities offer amenities such as workout rooms, pools and activities. As we grow older, it is important to remain active and socially engaged.

Both high-rise condominiums and 55-plus communities offer many social opportunities for those wishing to keep their independence while avoiding becoming socially isolated.

Here are examples:

• In a high-rise setting, conversation with other residents and building staff present themselves throughout the course of any day while picking up your mail, taking your dog out for a walk, etc.

• Front desk and building staff often get to know their residents and their habits, recognizing if something is off.

• Resident events are a common occurrence in high-rise settings as well as 55+ communities. You’ll most likely have plenty of chances to join your neighbors at a movie night, ice cream social, or holiday event.

• Many communities will have a pool and fitness center offering ways for you to keep active.
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• Join a club or group. If there isn’t already a club or group that matches your interests, perhaps you could be the one to get it started. Whether it’s a book club or Bunco group, there’s a good chance there’s someone else with the same interests.

Jennifer & Julie write a monthly article "Condo Conversations" in the Virginian-Pilot.  This article was written by Julie Ulrich, featured in the March 23 edition.

I often hear people say it’s time to downsize their lives. Sometimes that means minimizing what they own and moving into a smaller home. Other times it may mean downsizing of their responsibilities and financial obligations.

Single-family detached homes almost always come with upkeep, including cutting the grass, caring for a pool, exterior maintenance and shoveling snow. If you are ready to make a change in lifestyle, many options are available. Could it be time for you to “condo-size” your life?

A condo or townhome can be a great choice for someone looking to “downsize,” or as I like to say, “rightsize.” There are many benefits to this style of living, but there are cons as well. Let’s first explore the positive sides along with some thoughts to ponder.

The pros
Lock-and-go lifestyle: If you like to travel, a condo makes it easier to lock up and go, as the exterior and grounds maintenance is almost always performed by the association.

If you travel often, or use your condo as a second home, be sure you have a neighbor or friend look after it while you are away. You wouldn’t want a leaky pipe to go unnoticed causing a major amount of damage.

Thermostats in the unit should be kept at reasonable temperatures year round. Faucets should be run at least every couple of weeks. Most condominium governing documents will address specific requirements for absentee owners.

Condo assessments: I know, you are probably thinking, “Condo assessments are a positive? Yeah, right.”
The truth is they actually can be a positive in a healthy condo association. If the board has managed the maintenance, budget and reserves properly, you shouldn’t have any surprises down the line. Therefore, your monthly assessments will ensure your property is well-maintained, which ultimately helps protect your investment.