The transition to retirement is filled with excitement, anticipation, and a sense that anything could happen in this new life. For some people, retirement is also tinged with fear, especially if they have a chronic illness or a family history of serious health conditions like dementia, diabetes, or osteoporosis. Planning for retirement also demands planning for the unexpected. Assisted living offers a safe, comfortable retirement, a chance for new adventures, and the opportunity to master new skills. Yet many seniors and the adult children who care for them give little thought to assisted living because they worry it’s outside of their budget. Especially as healthcare and other costs mount, don’t ignore this enriching and affordable option.
Here’s how much assisted living costs.
What Will I Pay for Assisted Living?
Like most services, assisted living prices vary from region to region. You’ll pay more for more services, and for higher-quality communities. Nationwide, the average assisted living community costs about $4,000 per month. Of course, the amount you’ll pay depends on various factors, including:
- Whether you are eligible for any government benefits to help fund the cost of assisted living.
- Whether you have long-term care or other insurance policies that may help pay costs.
In some cases, you may be eligible to remain in assisted living even if you run out of money.
A Welcome Surprise: The Money You’ll Save in Assisted Living
The monthly cost of senior living only tells half the story. If you own your own home, you may actually save money when you move. You’ll no longer pay a mortgage, be saddled with property taxes, or have to save for home repairs. Moreover, the profit you make selling your home may fund many years of senior living. You may pay less for food, and won’t need to spend as much to get out and about because daily classes and special events are part of the assisted living price tag.
Some seniors find that they actually save money when they move to assisted living. And most enjoy their lives more — a welcome benefit to which it is impossible to assign a monetary value. For help comparing the costs of remaining at home and transitioning to senior living, check out our cost calculator tool.
Cost and Value: Assisted Living Amenities
Don’t focus solely on the price tag. Though it’s important to stay within your budget, your quality of life matters, too. Assisted living offers a number of amenities you just can’t get at home. In the right community, you’ll live a more enriching and joyful life. With quality gourmet dining and help whenever you need it, you may even live longer — and you'll almost certainly live healthier. Here are some of the many features you’ll enjoy in assisted living:
- A beautiful, efficient, meticulously maintained home. Forget about dealing with the lawn or a leaky pipe. At many assisted living communities, you don’t even have to clean because the housekeeping staff does it for you.
- Help whenever you need it. Assisted living offers privacy and independence, along with the comfort that comes from knowing you can access assistance as needed.
- Incredible meals. At Arbor, seniors enjoy gourmet dining in elegant dining rooms. Our experienced chefs can prepare a meal to suit virtually any dietary need or preference. And seniors who have eating or swallowing difficulties can find the help they deserve.
- A packed schedule. When you live in your own home, finding something to do means scouring local websites, collecting community flyers, and trying to plan activities with loved ones. This costs time and money. Arbor does the work for you, planning a wide range of recurring classes and special events to keep you active and encourage a sense of adventure and whimsy.
The Arbor Company believes that every retirement should be rich in meaning and packed with joy. You don’t have to give up your perfect retirement just because you have a physical or cognitive health condition. To learn more about what assisted living offers, download our free guide, “The Complete Guide to Assisted Living.”