You might be wondering how you could afford assisted living. With all of the services and care options that senior living communities provide, it seems like the cost will be significantly more than what you’re paying to live in your home. But that’s not necessarily true. If you’re paying for private in-home care, those costs can quickly become more expensive than a senior living community.
The cost of assisted living can be intimidating, but if you’re wondering whether or not you can afford it, here are a few things to consider as you decide what makes the most sense for your budget.
What Are Your Current Living Expenses?
Before you start looking at the cost of assisted living options, it can be helpful to total all of your expenses at home. That way you have a better idea of what you can afford. At a senior living community, your living space will be important, but other services like access to medical staff will be just as important. So, you should look beyond rent to compare your current expenses to the cost of a senior living community.
Don’t forget about the little day-to-day stuff, either. The senior living community will handle “chores,” so if you have someone who helps you maintain your home, that will be money that can go towards paying for assisted living.
How Much Do You Spend on Medical Services?
What’s best for your health care can also be what’s best for your checkbook. Do you have an in-home care provider that helps out a few times a week? That can be expensive and you’re not even receiving around-the-clock care in case of emergency. With trained staff helping out and monitoring your health, it will be easier to prevent future ailments and avoid the healthcare costs to treat those ailments. The staff can also handle transportation to the pharmacy and help you keep track of medications.
Maintaining a balanced diet gets more difficult as we age. It becomes complicated to get to the grocery store and eating out isn’t a reliable option because it’s expensive. At a senior living community, you’ll receive meals that meet your nutritional needs and help keep you healthy.
All-Inclusive or A La Carte?
Every senior living community will handle pricing differently, but one of the biggest opportunities to save money on assisted living is with “all-inclusive” pricing. Rather than paying more money per service on an a la carte basis, you can capitalize on the opportunity to pay less for services you would be paying for anyway. Some senior living communities offer tiers of services and some will charge for certain additional services, so don’t hesitate to ask questions.
Once you take a hard look at your current expenses and potential savings, you may find that you have more funds available to pay for assisted living than you thought. If you’re currently paying for in-home care, assisted living could actually save you money and also make for an improved living situation.
Are you or a loved one exploring senior and assisted living communities? Melrose Meadows is a certified assisted and independent living community in Iowa City, Iowa. We provide an independent, secure lifestyle for our residents in a vibrant, all-inclusive setting. Schedule a tour today to see if Melrose Meadows is a good fit for your future.
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