Cost will factor into an older adult’s decision on whether to move into a senior living community like Discovery Commons At Bradenton. Many older adults will not believe such a prospect to be worth it or even affordable in the long run, but that may not be so. You will need to crunch the numbers to be sure and on this page is an informal senior living cost calculator for that purpose. Living at home will incur its own sets of costs as well, in some cases, almost as much as living in a senior living community.
The Costs of Living at Home
Consider first your daily expenses, as well as your home apartment rent, your utility bill, services, and maintenance for your home, all the taxes you pay, and finally your lifestyle costs. All these will add up to a hefty sum. If you are not surprised by the figures you get, you already know that living at home is not free. There are many other categories of costs for you to add up and some may not be obvious, take your time to list them all out, it will be worth it later.
These are your base costs but consider as well, future costs. If you stay home for the next 10 years, you might need to pay for medical services and health monitoring, on top of home renovation. All in all, that is a lot of math.
The Costs of Living in a Retirement Community
On the other hand, living in a senior living community comes with fixed costs that come upfront. Such as rental, which can range from $1,500 to $6,000 depending on where you go. If you request additional services, such as 24-hour medical coverage, medicine administration, or special event participation, there may be extra charges.
However, consider that after these costs, you need not concern yourself with utilities, paying for your meals, your sources of entertainment, and your medical status. You will be free to live life as you want it. Senior living communities tend to offer a serious variety of lifestyle choices, so you will be able to socialize and try out new activities and events.
The Point of Balance
It is unfair to proclaim outright that either choice is the better one. Ultimately, balance the costs of living at home, to the costs of living in a community, while considering the additional benefits one side offers over the other.
The cost of living will differ drastically across states and cities, as well as personal preferences and lifestyle choices. Yet, without this calculus as a starting point, it will be difficult to make a decisive move on your dilemma. At the end of it, you may discover that living in a community might be more favorable to your budget and attractive than you initially thought.
If you are still uncertain, consider contacting our Senior Lifestyle Counselor so you are guided to the right choice. Contact us or call us at 941.212.0856 today.