When it comes to making decisions about lifestyle options, determining the most cost-effective choice requires more than a simple comparison of monthly bills. When contemplating a move to a senior assisted living community or choosing to age in place at home, it is crucial to consider not only the financial implications but also the lifestyle enrichment each option offers.
Our team at HearthStone Senior Living is guiding you through an in-depth analysis of assisted living versus living at home, helping you understand the benefits, costs, and financial strategies that you can use to cover the cost of assisted living or home care.
Benefits of Senior Assisted Living
Assisted living communities provide residents with comprehensive care, support, and numerous opportunities for social engagement. With 24/7 access to professional care, residents benefit from personalized assistance with daily routines, medication management, and health care coordination. Additionally, enhanced safety features, emergency call systems, and regular wellness checks contribute to a secure space, bringing peace of mind to residents’ family members.
However, at HearthStone Senior Living, we believe that the best kind of senior assisted living is where you can feel most like yourself and be in a place that allows you to fulfill your purpose. This is why we go above and beyond, offering a unique wellness philosophy that promotes independence and focuses on the physical, social, intellectual, and spiritual aspects of health.
Lastly, one of the major benefits of assisted living communities is the opportunity for socialization. Here, you will meet new neighbors with whom to share interests, hobbies, and stories. In each of our communities, you will find spaces that allow you to foster meaningful relationships every day.
Choosing to Age in Place
Aging in place is a popular choice since it offers a unique sense of familiarity and comfort. However, this option lacks the socialization opportunities that senior assisted living communities provide. Additionally, when the need arises for support with daily routines, home care services can be costly and are not always immediately available. From engaging amenities and personalized support around the clock, transitioning into an assisted living community presents endless benefits to promote an enhanced lifestyle.
Comparing the Costs
The cost of assisted living communities covers more than simply rent. Many communities offer a comprehensive package that typically includes accommodation, utilities, meals, amenities, and care services. Additionally, this is all included in a flat monthly rate, so planning a budget becomes more straightforward as it encompasses most of the resident’s living and care costs.
Assisted living communities are designed to provide a worry-free place where residents can receive various levels of care tailored to their needs. According to the National Council on Aging, “The average cost of assisted living in the United States is $4,500 per month, or $54,000 annually.” This figure can vary based on a community’s location, its amenities, and the extent of care services offered.
On the other hand, living at home might initially appear to be a more cost-effective option. However, this scenario requires a detailed analysis of ongoing expenses such as home maintenance, utilities, groceries, and personal care services, all of which can fluctuate and add up quickly. Additionally, for individuals needing extensive home modifications (such as stairlifts, walk-in showers, or widened doorways) or around-the-clock care, the expenses can skyrocket, often surpassing those of assisted living.
To determine whether senior assisted living is more cost-effective than living at home, individuals should conduct a comprehensive comparison of both options. This involves listing all potential expenses associated with living at home, including any anticipated increases in care needs over time, and comparing them against the fixed costs of an assisted living community.
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Making a decision about whether or not to transition into an assisted living neighborhood can be an overwhelming decision. However, we kindly remind you that we are here to help. Contact a member of our dedicated team at any of our vibrant communities to learn more about our offerings or to schedule a visit. Let us provide you with all the information required for you to make an informed decision for this next chapter of your or your family member’s life.
