Without a doubt, one of the most frequently asked question about retirement community living is “What’s it going to cost?”
Your exact cost for living in a retirement community will, of course, vary—depending on the size of your apartment, your personal care services and any other available amenities you choose.
Something to keep in mind – when you calculate the cost of living in a senior community, remember to deduct the expenses you currently have that will vanish when you move into a senior living community. A few examples are:
Mortgage/Rent: Are you one of the many seniors who still make mortgage or rent payments monthly? That’s money you’re already spending—it will just be going into a different “pot.”
Property Taxes: This is one of those “hidden” expenses involved in owning a house. Homeowners often don’t think about this (until the tax bill is due!). That’s an expense you’ll no longer carry.
Maintenance: Are you paying someone to do housekeeping, perform handy-man services and yard care? In a retirement community, that’s covered.
Basic Utilities: When you’re living in a house and even in some apartments, you’re responsible for water, sewer, and trash bills. And you’ve got to put the trash out yourself. In a retirement community, that’s inclusive.
Retirement community living isn’t free—and at first glance, it’s not cheap. But if you consider the things you’ll no longer have to pay for, and all that you’ll get in exchange, you’ll be able to see the real value.
At Daystar, we’d be happy to talk to you about the costs you can expect—and the amenities and services you’ll receive.
Do you have questions about the cost of retirement living? We’d be delighted to try to answer them for you.