As boomers age, more and more people want to stay in their own homes or avoid large, institutional settings. A sweet spot between these two options is something called an RCFE, or Residential Care Facility for the Elderly.
Though they’re also known by other names, the concept is the same… elderly residents live together in a smaller, communal living situation which has been optimized for safety and state regulations regarding senior care.
Residential homes can be converted to RCFEs. Often three-bedroom-plus properties, these homes are frequently single-level ranch-style homes which adhere to codes regarding 24-hour medical care, fire safety, and accessibility. Sometimes two residents will share a bedroom, but the rooms must be large enough to accommodate individual beds, chairs, and dressers. Many are also modified to manage non-ambulatory or wheelchair-bound residents, meaning they have roll-in showers and doors wide enough to handle chairs (3-feet wider).
(Please note: These are only sample requirements, and the regulations vary by state. RCFEs must be licensed, and the licensing process is vital to the legal, safe operation of the home. There are educational and training programs available for those interested in a deep dive into the space.)
Demand for RCFEs is hot. Properties which are suitable for conversion draw a great deal of interest from investors and those looking to enter into the elderly care market. You may own or know someone who owns a home which is perfect for such a conversion.
If you think you have a floor plan which is suitable for conversion, this can be a real selling point. I am always on the lookout for properties which could become a pleasing, comfortable, safe home for seniors.
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