Retirement Communities: Affordable Options And How Much It Should Cost

Retirement Communities: Affordable Options And How Much It Should Cost



















Apartment Choice

Almost all assisted living communities offer residents a choice of room size. Modern communities typically offer enough public spaces and activity rooms, that residents often find they don’t require a large private room. Renting a “studio” instead of a one-bedroom apartment can reduce monthly payments by 15% – 20%. Annually, this can result in a savings of $6,000 – $8,000 for a community that charges the national average of $3,600 / month.

Community Size

One might think that larger assisted living communities can provide care services at a lower cost due to economy of scale. However, because regulations differ for smaller and larger communities this is not the case. One may find “lower bed count” assisted living residences to be less expensive even when they are offering the same quality of care in the same geographic area.

Leave The City

The same level and quality of care usually costs more in urban areas due to higher real estate values and the increased cost of living. Finding an assisted living residence just an hour away from a city can reduce costs as much as 25%. An additional benefit is the increased personal space in suburban or rural assisted living communities. Typically, non-urban assisted living communities are built specifically for this purpose while city residences are conversions of existing properties.

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