When people reach a certain age, it’s time to retire and enjoy life. However, many seniors once retired have no income other than social security. Social security doesn’t pay much and with the high cost of housing, they need another viable way to keep costs down while living in a good environment. In this case, subsidized senior apartments are a great solution for seniors in a financial bind.
Subsidized senior apartments are apartments that specialize in renting to seniors who are making low income. The rent is subsidized by the government, so that seniors can pay less than average rent. This amounts to significant savings to seniors in the magnitude of hundreds of dollars a month.
Seniors can apply for these apartments through HUD, which is the department of housing that deals with these matters. Seniors will then get a voucher in which they can use at senior apartments that accept those vouchers.
Since senior apartments are for seniors, make sure you are of an adequate age to even apply for these apartments. Then start setting up a budget of how much you can afford in rent. You don’t want to end up signing a lease for an apartment you can’t afford. At the same time, you probably want to look for an apartment which is better suited to your lifestyle. For example, some apartments may provide 24 hour staff that gives you some limited care. Balance all of these factors when making your final decision.
Now that you have a budget plan drawn up, you can start shopping for senior apartments. There are many ways to find these. For example, you could flip through your phone book, look online, or just ask HUD. When you are searching for apartments, make sure the apartments negative reviews. Many seniors post reviews online regarding their experiences in an apartment. If you find a senior apartments that has many bad reviews, then skip this rental. You don’t want the headache. You’ll want to find the right subsidized senior apartments since you’ll be living there for quite awhile.