Realty Executives Midwest
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. We are always on the lookout for properties which could become a pleasing, comfortable, safe home for seniors.
We all need to plan for the future! Get in touch:
Realty Executives Midwest
1310 Plainfield Rd. Ste 2 | Darien, IL 60561
Office: 630-969-8880
E-Mail: experts@realtyexecutives.com
Realty Executives agents are real estate experts. They have the education and expertise you need to navigate through the process of buying or selling a home. From listing at the right price to making the best offer, our Executives have witnessed the best - and most regrettable - decisions homeowners and homebuyers can make. Every day, they are immersed in every aspect of real estate that includes comparable home price analysis, property surveys, credit reports, open houses, HOA agreements, lenders, title companies, homeowners’ insurance, walk-throughs, terms of sale or purchase, repairs, concessions and closing documents. Let our accomplished Executives help navigate you through the process of buying or selling a home.
