Senior living doesn’t come cheap; neither does aging in place at home. So, before the stickers deter you from the tremendous benefits, let’s look at the most significant factors affecting senior living costs and the value behind those numbers in a retirement home in Mandeville, LA.
Level of Care
How much assistance do you or your loved one need? Your answer will affect the price, as the greater the level of care, the greater the cost. Here is what you can expect on average per month:
Independent Living— For active older adults who require little daily assistance and are seeking a maintenance-free lifestyle with social opportunities
- With a variety of accommodations from which to choose, the cost typically ranges from $1,400 to $4,000 per month
Assisted living — A residential arrangement providing personal care and health services
Private, one-bedroom: $4,000
Nursing home care — Often a higher level of supervision and care than in assisted living with onsite nursing 24/7; also known as skilled care
- Semi-private room: $7,441; Private room: $8,365
Memory Care — Designed to nurture and support those with Alzheimer’s disease and dementia, with specially-trained staff, 24/7 supervision
- Single resident: $2,000 to $7,000 per month
Where you live matters, like how geography affects the real estate market, it can also drive senior living costs up or down. Consider these examples:
Most Expensive Areas for Assisted Living (private, one-bedroom)
- District of Columbia – $9,266 per month
- Alaska – $6,300 per month
- New Jersey – $6,065 per month
Least Expensive Areas for Assisted Living (private, one-bedroom)
- Missouri – $2,844 per month
- Arkansas – $3,037 per month
- Georgia – $3,100 per month
This is one area where you have the most control: the more luxury you desire, the higher the cost. While you may want the private balcony, gourmet meals, and 5-star accommodations, do you need that? More importantly, will your budget allow it? Typically, these options add to your monthly cost:
- Type of residence – private or semi-private; studio, one-bedroom, or two-bedroom
- The second resident fee – may apply if your spouse is moving in with you
- Pet fees
- Concierge services
- Private transportation
Keep in mind that the community’s prices are different. Some may offer all-inclusive pricing, and some may offer an a la carte menu, allowing you to choose only the amenities and services most important to you.
The Value of Senior Living
Aging in place may seem less expensive, but have you considered the total cost of living at home? For a valid apple-to-apple comparison of monthly expenses, you must go beyond your mortgage or rent to include the cost of food, utilities, home maintenance, property taxes, insurance, and entertainment, as those are included in senior living. Then factor in the high cost of at-home care or modifications to make your home more accessible, and you may find senior living is less expensive!
Aside from the cost, consider the value of the positive impact on your quality of life with all the social and enrichment opportunities in senior living. Isolation and depression are common among seniors living at home, mainly when living alone, and can negatively impact your overall health and well-being.
Not to mention the peace of mind of a worry-free lifestyle with no unexpected expenses, no chores or maintenance, and an environment designed specifically for seniors with safety features as standard. Retirement communities with personalized care provide residents with broad-ranging living and health care services. When seniors move into retirement communities with customized care, communities offer retirement communities memory training, nursing care, or rehabilitation therapy, all accessible in the retirement community quarters.