Creating A Retirement Community

Deborah Stern, 58, and her husband, Earl Dotter, 72, have a clear vision of the future and are actively seeking a condominium development in which to move in downtown Maryland.  They will be able to walk to restaurants, movies, and shops, something they cannot do where the currently reside.

While downsizing is not unusual for many retirees, Stern and her husband will be joined by several of their long-time friends.  “I would like a situation where we are basically under the same roof, but in separate residences,” she says. 

The idea of shared housing may be catching on.  The model can be an appealing alternative to house sharing, which some find a little too close for comfort.  In Cambridge, Massachusetts, a group of friends bought a twelve unit building in 1973, and now that they are in their 60s and 70s, they are aging in place.  “We’ve built quite remarkable friendships over the years,” says one of the tenants.  They have experienced births, weddings, divorces and deaths.  Even when one of their friends was diagnosed with Alzheimer’s disease, she was able to stay there until her death thanks to a devoted husband and the support of her friends. 

Similar relationships can be found in any close-knit neighborhood, but moving to a building with friends can be a great way to create a community.

See Beth Baker, Creating Your Own Retirement Community, Forbes, March 9, 2015.