March 12, 2021
From making cookies with your grandchildren to talking with neighbors about your lawn, you have so many wonderful memories in your current home. However, the responsibilities of home maintenance are becoming a burden and you’re ready for a change. You know about the fulfilling lifestyle that senior living communities can provide, but there’s still one question on your mind – can you afford it?
The good news is that there’s a common misconception that senior living is unaffordable. In fact, making the move to a senior living community could be the best choice to boost your well-being and budget in the long run. Let’s take a look at how you can find out if you can afford the move to a senior living community.
If you’re debating whether or not you can afford a senior living community, it’s important to take a detailed look at your finances. To make this task less intimidating, we’re going to break it into categories.
Many homeowners spend thousands of dollars a year keeping up with home maintenance. From landscaping bills, to gutter cleanings and home repairs, these costs can add up fast. You also have to take into account your real estate taxes, insurance and utilities. Your first step is figuring out how much your monthly cost is for staying in your home. Once you have the number, compare it to the monthly rate of any senior living communities you’re looking at. You might be surprised at how the numbers match up.
Do you own a car or find yourself going to the grocery store every week to keep a good supply of food around? All of these costs add to your current cost of living. If you were to move into a senior living community, some of these costs would disappear. For example, the scheduled transportation services included at a senior living community can eliminate your need for a car.
How often do you go out with friends, take in a concert or spend the morning at an exercise class? All of those activities and forms of entertainment add to your living expenses. But wouldn’t it be nice to have all of your lifestyle activities in one convenient location? Senior living communities have a wide variety of life enrichment activities to explore that are all included in your cost of living.
The cost of senior living is dependent on what type of care you’ll need for your unique situation. Are you looking to continue your independent lifestyle, or do you need some assistance with daily tasks like medication management and getting dressed? Start by talking with a loved one about what type of care you’ll need to thrive at a senior living community. Once you have that list of care needs, senior living communities, like Franciscan Ministries, can give you a more accurate snapshot of the cost you can expect.
Now that you’ve identified all you monthly costs associated with living at your current home, it’s time to add them all together. The final total is the baseline for your senior living community budget. When you make the transition to a senior living community all of the services you pay for now are consolidated under one roof. Plus, when you choose a Franciscan Living community, you’ll have the peace of mind knowing that your happiness and quality of life are top priorities.
If you’re thinking about making the move to a senior living community, put Franciscan Ministries at the top of your list. Our expert team can help you find the best level of care that fits within your budget. For more than a century, we’ve been helping older adults receive the highest quality of care, social interaction and personalized service. Contact our team today to learn more about the fulfilling lifestyle that’s waiting for you.