The idea of choosing a carefree, fun, and comfortable lifestyle makes you smile—but the cost of senior living gives you pause. Would aging at home be easier on your pocketbook? When you make a comparison of the two options, you might be surprised.

Determining the cost right for your budget

When you first research senior living communities, you might develop a case of sticker shock, especially if you’ve paid off the mortgage on your home. Chances are you underestimated the cost of senior living and are a bit shocked at what you are seeing.

Underestimating the cost of living at home

Think about all the expenses you pay to live at home (even if you’ve paid the mortgage). Heating, air conditioning, water, and electricity. Maintenance of the lawn and garden. Regular repairs of plumbing, roof, furnace, windows, doors, entryways, and flooring. Updates to painting, lighting, and appliances. Garage door replacement. Sagging gutters that need to be replaced. Cracks in the sidewalk or broken bannisters. Security. Property taxes. Homeowner’s insurance.

And then there’s the lifestyle costs. Regular trips to the grocer. Fees and memberships to gyms and fitness clubs. Driving to a library, movie theater, museum, or playhouse for entertainment.

And perhaps the greatest cost of living at home: feeling lonely and left out. It’s so harmful for senior health and wellbeing. When neighbors move away and friends are gone, it can be very easy to feel isolated. And that can lead to a host of negative health problems, such as heart disease, stroke, dementia, depression, and more.

Sitting at home alone watching television just doesn’t replace the benefits of being around people you enjoy.

There’s also the safety factor. Do you really want to crawl in the attic to replace a filter? Or climb a ladder to clear leaves from the roof? Of course, you can hire someone to handle these tasks, which ends up adding to the cost. Even cooking can become dangerous or difficult if mobility issues arise. That can lead to added expenses or a tendency to not maintain proper nutrition.

Related: How Senior Living Communities Ensure Safety and Security

The cost of senior living

The monthly service fee you pay in a senior living community covers multiple services and amenities, so you don’t have to write a bunch of checks or worry about next month’s expenses. You already know what you will pay and what will be included. For example:

• Housekeeping. Let someone else do the dusting! Most modern senior living communities let you schedule your regular housekeeping services so you can relax, meet friends, or attend a class.
• Transportation: Eager to attend the new play at the theater but don’t want to drive at night? Scheduled transportation can be the answer. Enjoy a ride to scheduled appointments, special outings, grocery stores and more.
• 24-hour security. No more worrying about a stranger knocking on your door in the middle of the night. The includes the reassurance that someone is always available day or night, regardless of weather.
• Dining. Cook as often as you like. But if the thought of hanging up your pots and pans whets your appetite, you’ll love having nutritious and delicious dining just steps away. It can feel great to have someone else serve you for a change!
• Exercise and wellness. Living at home and trying to follow an exercise regimen on your own can be boring and difficult. Living in an atmosphere of wellness, with classes, senior-friendly exercise equipment and professional instruction available can help you stay strong and active and it’s a major plus of what’s included in the cost of senior living. Plus, you have the added perk of being around others who share the same goals—great for motivation!
• Social activities and events. There’s so much to do! Classes, trips, parties, hobbies, clubs, happy hours, discussions—be as active as you choose and enjoy having wonderful new friends who’d love to join you.

In addition, there is no property tax or homeowner’s insurance, no lawn care to handle or pay for, and utilities are included!

Related: Money Matters: Top Tips for Financing Senior Living Costs

And what about the cost of assisted living and memory care?

Assisted living and memory care do come at a price. However, at-home care also can be quite expensive, with costs continuing to rise each year. Here are some figures on both home care and the cost of senior living from the Genworth Cost of Care Survey for 2023:

Monthly costs:

Home Health Care

• Homemaker Services: $5,720
• Homemaker Health Aide: $6,292
• Adult Day Health Care: $2,058

In addition, it’s important to remember that caring for someone with a higher level of needs at home can be difficult and exhausting and often results in caregiver burnout and poor health. The true cost of care at home, versus the advantages of a loved one receiving professional, 24-hour care in a specially designed environment, could be significant.

Look at the value. Then decide.

One thing that doesn’t have a price tag is peace of mind. The peace of mind that comes from knowing that by choosing senior living, you have planned for the future. You have chosen a lifestyle that is designed for your safety and security, with exceptional staff and caregivers close at hand when needed.

Find all this and more at Carriage Crossing

Our mission is straightforward: serving our residents to ensure their best possible quality of life. Whether you’re exploring Carriage Crossing for yourself or a loved one, rest assured that our team is here to support your unique journey every step of the way.

Contact us today – Find out why so many seniors choose us! Schedule your tour and see for yourself. And download our free Funding Guide for more information.