A move to a senior living community is an excellent option. It helps your loved one find a balance between independence and support. These communities offer a place that feels just like home, with easy access to professional care and all kinds of valuable amenities. But what costs are involved with senior living?
The costs adults pay in a senior living community typically include monthly fees. These cover rent, maintenance, and utilities, alongside other benefits and everyday services.
What’s Included in the Cost of Senior Living?
Most senior living communities bundle several essential services into one monthly fee. This is for convenience and financial transparency—it makes it easier to manage day-to-day finances all around.
Typically, this fee covers services and expenses such as:
- Rent
- Meals and dining options
- Utilities (electricity, water, internet, etc.)
- Housekeeping
- Laundry services
- Access to on-site programs and services
Beyond that, regular maintenance—both inside and outside your home—is handled by the community. This way, there are no financial surprises, and no need to worry about unexpected repair costs. Together, these services offer a streamlined and supportive living environment for your loved one.
How To Pay for Senior Living
When working out your finances, remember—your family isn’t alone. Several resources exist to help you manage the cost of senior living.
First, spend some time working with your loved one to determine your budget. Make sure you factor in:
- Retirement funds
- Pension disbursements
- Home equity and other assets
Other strategies may include bridge loans, home equity loans, or specialized senior living loans. If your loved one qualifies, there are services like the Veterans Affairs Aid and Attendance program.
Each person’s financial circumstances are different. If you’re unsure or feeling overwhelmed trying to navigate finances, it helps to speak with a trusted financial advisor. They can help you understand the choices that best suit your situation and help you make your loved one’s dream of senior living into reality.
How Senior Living Costs Compare To Staying At Home
At first glance, senior living costs might seem intimidating. However, the move to senior living isn’t just about finding your loved one a place to stay. You’re working toward finding them a true home that helps them maintain the life they love living.
Think about the alternatives. Homeownership comes with a long list of monthly expenses and challenges. These often include:
- Mortgage payments
- Property taxes
- Utility fees
- Maintenance
- Groceries
- Unexpected repair costs
If your loved one needs at-home care, these costs rise even further. These add up quickly and can be overwhelming. In contrast, senior living combines all these fees into one single payment.
Meanwhile, your loved one gains access to all kinds of supportive events and experiences. It’s a way to enjoy life in a community full of benefits and support—just like your loved one deserves. Instead of worrying about maintenance, repairs, and daily stress, they can spend every day doing the things they love.
How To Choose A Senior Living Community
Budget matters when choosing a senior living community. However, it’s not all about finances. Senior living communities differ in the care they provide, and you need to choose a place that meets your loved one’s unique needs—while staying within your price range.
Start by assessing your loved one’s needs. Try asking questions like:
- Do they need daily assistance with tasks like bathing, managing medication, or dressing?
- What challenges are they facing in their everyday life, and what do they need?
- Are they interested in socializing and participating in activities, or would they prefer a more private living option?
Once you have a clear understanding of your loved one’s needs, start researching different senior options in your area. You have several lifestyle choices when it comes to senior living, but the 2 common types are assisted living and memory care.
What Is Assisted Living?
Assisted living is ideal for seniors who love staying independent but need some everyday support. If your loved one values their autonomy but needs help with tasks like housekeeping, managing medication, or bathing, assisted living is ideal. It blends personal support with an independent lifestyle to help your loved one maintain their quality of life.
What Is Memory Care?
Memory care is perfect for loved ones living with Alzheimer’s or other forms of dementia who need specialized support. It provides structured routines, trained staff, and secure environments to help your loved one respectfully maintain dignity.
This lifestyle focuses on mental stimulation and emotional well-being. Through tailored activities and compassionate assistance, memory care offers a way to help your loved one stay engaged and safe.
Is It Time for Senior Living?
Choosing a senior living community is a great way to help your loved one. It gives a unique way to help them maintain their lifestyle in a place that can truly help. And with all the fees bundled into a single payment, it’s more accessible than you might think!
If you’re considering senior living for a loved one, contact our team at Somerby Santa Rosa Beach. We’ll work with you to find an option that meets your loved one’s needs. Contact us today to schedule your visit!
