When you compare the cost of living at home to the cost of a senior living community, making the switch may be more affordable than you think. As you consider your choices for senior living and compare costs, remember you have options with a selection of communities that fit different budgets and personal preferences.
When you want to compare your current budget with costs for a senior living community, consider what goes into the bottom line.
Location, Location, Location — Just like your current home, pricing for senior living depends on supply and demand, and the local cost of living.
Size up the square footage — Residence size will also influence costs no matter where you are. Rent for a 500 square-foot studio apartment will usually be less expensive than rent for a 1,100 square-foot two-bedroom residence.
More services mean higher costs — Whether you have in-home help or assistance with daily life activities at a senior living community, more care will increase costs.
Here's how you can save money when you make a move to senior living: