In a recent article for the online investor site Costar.com Mark Heschmeyer discussed the surge in sales of senior housing, citing the ongoing recovery in housing as the driver for demand of these types of investment vehicles. The billions of dollars being invested in senior living facilities has grown at a fast pace this year.
In local terms, as our Ventura County real estate market continues to improve, more seniors are choosing to sell their large homes and move into a more manageable living space with all the features that senior living facilities or assisted care facilities can provide.
The newest senior living facility is in Thousand Oaks, CA having just opened last month at 3680 N. Moorpark Road to a warm reception. The beautiful Belmont Village has many options for seniors including a total of 139 studio, one and two bedroom residences and all come with kitchenettes, laundry facilities, on-site nurse and the many other expected services you would expect from a first class facility. www.belmontvillage.com
I’ve personally handled the sales of several homes for seniors moving to this type of arrangement and the dominant reasons for going in this direction are so that they can live out their lives in a safe place with activities and services not easily available as a single homeowner. The relatively high cost of living in an assisted living facility is overweighted by the piece of mind family members enjoy knowing that their loved ones will have somebody around them on a daily basis.
There has been a lot of pent-up demand for senior living facilities in the Conejo Valley and I expect that the trend will continue far into the future as the aging baby boomer population searches for more alternative housing options.
If you need help in finding senior living facilities in Ventura County contact Jeff Haring, the local area real estate broker, through this website at www.coastandcanyons.com