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How To Afford Senior Living: Understanding The Costs

How To Afford Senior Living: Understanding The Costs


StoryPoint Group
StoryPoint Group | Senior Care Experts
Leaders in Senior Living Services
How To Afford Senior Living: Understanding The Costs

Are you worried the cost of senior living may not fit into your budget? While the monthly cost may seem high, it is important to remember all that is included in the community rental fees. Understand the costs of senior living with this helpful breakdown.

 

All-Inclusive Household Expenses

Senior living communities provide an all-inclusive living experience. With typical household expenses included in the monthly cost, residents can enjoy themselves without the burden of additional bills and fees. Household expenses included in the cost of senior living include:

  • Mortgage or rental fees
  • Property taxes and insurance
  • Utilities
  • Seasonal maintenance
  • Laundry and housekeeping
  • Meals, and more!

RELATED: Download Our Cost Comparison Sheet

 

Resident Specific Services

In addition to all household expenses, senior living communities provide many levels of services and amenities catered to each resident’s specific needs. These services are included in the monthly rental fee without any additional cost. Depending on the level, communities offer 24/7 staffing, medication reminders or administration, frequent room checks and other specific services.

 

Additional Amenities Without Additional Cost

Moving into a senior living community is more than simply moving homes. It is joining a new community where everything you could ever need is right at your doorstep. Included in their monthly costs, residents can enjoy a large variety of in-house amenities including, but not limited to:

  • Daily events and entertainment
  • Transportation services
  • In-house beauty salon/barber shop
  • Instructed fitness classes

 

Use The StoryPoint Group Cost Calculator

Our cost calculator is here to help you get an estimate of the cost of senior living where you live:

See The Costs Of

Senior Living Compared To Staying In Place

We created this senior living calculator to help you determine the costs of senior living compared to remaining in place.

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Compare The Costs Of Senior Living

To accurately estimate the cost of senior living, simply enter your monthly expenses in the field below.

To see an estimate of the cost of senior living, simply select the state and level of care you think is right for you or your loved one.


Select the state you're interested in and level of care that’s right for you.
Question 1/8
Independent Living: For independent seniors who want to maintain an active lifestyle while downsizing their daily living responsibilities.
Assisted Living: Provides daily support for seniors who need help with tasks such as medication management, bathing and dressing.
Memory Care: Specialized care for seniors with Alzheimer's disease, dementia or other memory impairments.
Mortgage or rent*
Question 2/8

*The state average for the above expense has been added for your convenience. Update the value to reflect your current situation.

Total of utilities*
Question 3/8

*The state average for the above expense has been added for your convenience. Update the value to reflect your current situation.

 

*The state average for the above expense has been added for your convenience. Update the value to reflect your current situation.

 

*The state average for the above expense has been added for your convenience. Update the value to reflect your current situation.

 

*The state average for the above expense has been added for your convenience. Update the value to reflect your current situation.

Transportation*
(Vehicle Insurance, Registration, Gas, Maintenance, And Repairs)
Question 7/8

*The state average for the above expense has been added for your convenience. Update the value to reflect your current situation.

Home Health Care / Companion Costs*
(The National Average Cost Is $3,360-5,760 Monthly*)
Question 8/8

*The state average for the above expense has been added for your convenience. Update the value to reflect your current situation.

Your Results
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We took the information you provided to calculate your current living expenses vs. the average costs of senior living. Here are your results.

Your Monthly Estimated Costs
Your current costs (based on the values you entered)
The average monthly cost of Independent Living in

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Electric:
Gas:
Cable/Internet:
Water/Sewer:

*This information is intended to aid in the evaluation and the decision-making process related to senior living alternatives. It is based on information and assumptions provided by you and information compiled from multiple accredited sources for comparison purposes. The calculations and comparisons provided should not be construed as financial, legal or tax advice. In addition, such information should not be relied upon as the only source of information.

 

Navigate Senior Living Costs With Independence Village

Independence Village provides a variety of senior living communities. With numerous financial assistance programs, we work with residents to help them navigate the costs. Schedule a tour to your local community or give us a call to learn more.

StoryPoint Group

StoryPoint Group | Senior Care Experts

Leaders in Senior Living Services

For more than 40 years, we have been committed to providing our senior living residents with a sense of community and the absolute best experiences they deserve.
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