Senior-Sharing As a Way to Bind Communities Together

There are different options for living out your Golden Years at home with benefits for more than just homeowners.

A first home purchase. Moving to a larger home. A major remodel. Downsizing. And then…

There are as many stages to homeownership as there are stages in life. Major milestones throughout careers, families, and financial circumstances often go hand-in-hand with changes in the type of home required or desired. And for many Baby Boomers and older Gen-Xers, retirement is the next milestone on the horizon.

According to the National Association of Realtors (NAR), the 65-or-older segment now represents an important 15% of the population with numbers growing beyond 20% by 2050, and seniors are the fastest-growing population group in the country. According to a January 2024 report from Senior Housing News, nearly 60% of respondents to a summer 2023 survey by the American Seniors Housing Association (ASHA) said they were considering a move that potentially included transitioning to a senior living community within the next four years. But a total of 92% of respondents agreed or strongly agreed that remaining independent and self-sufficient was important to them, and just under a quarter of respondents said they preferred to live in their own homes.

Aging In Place and Senior-Sharing

For many retirees, moving simply isn’t an option. Whether it’s to retain the equity in a paid-off property; the cost of moving to a new community; leaving a circle of trusted friends, family, doctors, and vendors; the lack of nearby retirement-living options; or a desire to remain living independently, many people choose to stay in their current homes and adapt it to fit their requirements as mobility and accessibility needs change.

Ideally, one-level living offers the safest living floorplan with fewer stairs to navigate, but homes can also be modified with chair lifts (basic lifts cost between $2,000-$5,000) and elevators (cost ranges widely but are generally $20,000-$50,000). While these additions aren’t currently covered by Medicare or most insurance policies, there are grant programs and community groups that can help defray installation costs, including one offered through the Veterans Administration. Homeowners can also check with their local Department of Housing and Urban Development (HUD) office to see what grants are available in their area.

Aging in place is more than just adapting a home, it’s also about knowing you’re connected to your community with a trusted and caring network. The Senior Villages initiative of Washington, DC is a neighborhood-based nonprofit supported by volunteers that “makes it easier for older neighbors to continue living safely, comfortably and actively in their own homes and connected with their neighbors.” Residents can search for Villages in their area and find other resources for helping seniors thrive and get out and about in the community. At Home in Alexandria (AHA) offers a similar volunteer program, connecting seniors with local experts to help with home maintenance, technical assistance, and running errands.

One of the benefits of keeping a larger home in retirement is the option to bring in others to share in the upkeep and costs, whether they be family members, good friends, or renters. Senior-Sharing is growing in popularity, whether it’s with other seniors or intergenerationally where seniors are paired with college students or other young adults.

For example, Montgomery County’s Housing Initiative Program has a home-sharing option that matches senior homeowners and renters to “reduce social isolation, create monthly income for homeowners, and offer new affordable housing options for home seekers.” In some cases, light housekeeping – raking leaves, clearing snow, doing errands, and shared transportation – can be bartered for a reduction in rent. In Virginia, Fairfax County’s 50+ Community Action Plan has many housing initiatives, from adapting homes for accessibility and connecting seniors who want to share their home with other seniors or local residents.

Affordability & Additional Resources

Affordable housing is a challenge, and this is even more acute for would-be and current retirees working with a fixed income, savings, and retirement resources that need to last for an indefinite period. AARP has a great online tool to find subsidized rentals and rent relief programs, connecting seniors with grants and affordable housing options in your area. (In fact, they have an entire section devoted to senior housing resources.) Here are some local resources that provide an overview of housing, lifestyle, and services for our DC, Maryland, Virginia, and West Virginia seniors.

Positive Aging Community – Founded in 1990 to provide individuals, families, and professionals with the most comprehensive listing of every retirement community, assisted living, nursing and rehab center, and home care option in the DC, Northern Virginia, and Suburban Maryland.

Alexandria Housing Crisis Assistance – Information on rental assistance, state funded resources for rent and mortgage relief, housing for seniors and persons with disabilities and the Senior Rent Relief Program.

Arlington County Housing Options and Resources – Resources for at-home retirement living and care, nursing home options, and other health and social services connections.

DC Department of Aging and Community Living – Links to various programs, events, and resources for senior living in The District.

Fairfax County Redevelopment and Housing Authority – Senior Housing Residences – Rental properties and assisted living facilities for people aged 55+ or 62+.

Loudoun County Health and Human Services – Various resources for housing and relief programs.

Maryland Department of Aging Housing Services – A roundup of community housing programs for seniors, CCRCs, and senior living subsidy programs.

West Virginia Bureau of Senior Services – Focus on the changing needs of older West Virginians with programs that promote health, dignity and independence.

Many of our Associates specialize in helping clients find their best senior living community. If retirement is your next chapter, let a McEnearney Associates | Middleburg Real Estate | Atoka Properties agent help you make that next move.

Take a look at our website for all of our listings available throughout Washington, D.C., Maryland, and Virginia.