I had suggested to a few friends that with our advancing age we should pool in resources and setup a 4-5 BHK house in a peaceful and scenic location.

After much deliberation and thinking, I don’t think that will be practical given the health conditions associated with ageing and the new lifestyle diseases. 

The reason to opt out from the co-living model is simple. Starting a greenfield project sounds good in theory but with lack of construction experience, labour related issues, permissions, buying land etc may not be practical.

1) Language barrier will be the first problem since all of us will be outsiders. 

2) Buying land and getting it constructed itself is a challenge, even though the architects will be of help but eventually it is the senior citizen who will have to do most of the coordination.

3) Finding domestic support will always remain a constant challenge. Especially if one is not equipped to do cooking then it will be a major logistical nightmare during the sunset years.

4) Relocation to a new place will always be a mental challenge about the big decision of selling existing assets to build something new.

5) Driving to the city for doctor consultation, other daily groceries etc is again going to become a challenge especially with knee problems and decline in motor skills.

6) Last but not the least, what if there is difference of opinion between friends, which in my view is bound to happen sometime or the other. In that case who will leave the house and who will manage the place.

I think it is more practical to invest into an Assisted Living Home, Retirement Home, since they are equipped to take care of our ageing needs and emergencies. 

There are many options in the market, it can be a purchase option / lease or rental. The decision will depend upon the purchasing capacity and the level of care that would be required.

These are my personal views and nothing against the Senior Living sector.

Pankaj Mehrotra