One of the biggest concerns aging adults have when considering a move into a senior living community is cost. People often ask "What can I afford?" before they consider "What type of care do I need?" or "What kind of lifestyle do I want?" Do not write off the possibility of a senior living community before you really dive into the different types of senior living, what they offer and what the costs include. The reality is, staying in a senior living community could be the most cost effective option when you factor in expenses like home maintenance, in-home care, transportation costs and the value of the amenities offered at most senior living communities.
Staying in your home can be costly
Choosing to stay in your home as you age-especially if your home is paid for-seems like an economical choice at first glance. If you no longer have a mortgage, it must be less expensive to remain than paying to stay at a senior living community, right? The reality is that the costs associated with staying home can add up quickly. If you need help with lawn care, cleaning, laundry and other household tasks, you need to consider the cost of hiring help. In addition, repairs to your home can come up unexpectedly and be very expensive. You can spend thousands of dollars on major repairs like a new roof, a replacement air-conditioning system, or foundation repairs. Living at home means you will also continue paying for things like electricity, water, cable, internet, transportation and property taxes. If your physical or cognitive health begins to change, you may also have the expense of in-home care. As you can see, comparing the costs of staying home to those of a senior living community is not a simple as looking at your mortgage and the cost of a community. There are a lot of other factors to consider in order to gain a true understanding of how the costs compare. Use Eskaton’s cost comparison guide to write out and directly compare the cost of staying home to that of living in a senior community.
Senior living communities offer desirable amenities
When you choose to move to a senior living community, you will get much more than room, board and necessary medical care. You will also enjoy a long list of hospitality-style amenities, such as housekeeping services, onsite salons, exercise classes and restaurant-style dining. The exact features you can expect will vary with each community, but most modern senior living communities are designed to provide aging adults with a high-quality and enjoyable life. When you think about the cost of moving into a senior living community, be sure to consider the value of the amenities included with that price.
A senior living community could be the most cost-effective option when you compare the cost of staying home to everything offered at a community. The cost comparison guide mentioned above is a great place to start when comparing costs. It will help you factor in all of the relevant costs so you can come up with a true comparison. You may be surprised to find how affordable senior living really is once you see the numbers.