As you begin researching senior housing options, one of the most common questions that arise is: “How much do senior living communities cost?” The general rule of thumb is that the sooner you start planning financially for your future, the better. This means before making any decisions about your future housing, it’s important to know the costs associated with each type of senior living option, regardless of whether you’re ready to downsize your current home, are seeking in-home assistance with daily health care tasks and personal care, or need a community that offers higher levels of care for you to truly thrive.
While aging in place in the home is often appealing to many older adults, it’s certainly not the only option available. In fact, studies show that seniors who move to an independent living community while they are still independent and healthy are more likely to stay that way. Plus, many senior living communities offer a continuum of care, which means if your health needs change, the level of care provided will change, too, and those services are provided all on the same campus. This means you wouldn’t be forced to make any quick decisions about your housing situation should an injury or illness occur. If the time comes when you need a change in your lifestyle or can no longer take care of yourself in your home, it’s good to know what other options are available, as well as the senior living costs involved with each option. The below chart offers a quick breakdown of the average cost of senior living and senior care services:
|Type of Care
|Independent Living Community
|Varies by housing type (home, townhouse, apartment), floorplan, and health care or continuing care services available
|Assisted Living Community
|In the state of Florida, the cost of assisted living averages $3,150 monthly.
|Skilled Nursing Care/Nursing Home
|Depending on whether you have a private or semi-private room, monthly costs for skilled nursing care in Florida can be anywhere from $7,300 to $8,060 monthly.
|In-home care costs in the state of Florida average $18.50 per hour.
*These costs are a generalization and will vary by the community, facility or in-home health care agency.
It’s not uncommon to think that remaining in your current home is the most affordable option. However, there are several factors to keep in mind when making these important decisions about your future.
For instance, consider the costs involved with maintaining a home. There’s the monthly mortgage or rent payment, utilities, property taxes and insurance, big-ticket repairs like a new roof, landscaping, groceries and so much more. In a senior living community, the majority of those costs are rolled into your monthly rental payments or into the community’s association fees.
Sit down and map out your current monthly living expenses, including all your health care costs. Then, compare those costs to the information you received from doing your research about the senior living communities that interest you. Often, seeing the numbers written down in black and white can be quite eye-opening! You may find the cost of moving to a retirement neighborhood makes more sense financially than you thought. Plus, there’s the added bonus that you’ll have peace of mind for your future health needs.
Advent Christian Village offers a variety of senior living options and health services to ensure you’re living a vibrant, confident lifestyle. Download our rate sheet today, or contact us to schedule a personal, guided tour so you can see all that ACV has to offer.