Considering the Cost
Once you've made the decision to move into a senior independent living community, choosing the right independent living community becomes the priority. This community will become your home. So, it's important to choose one that offers spacious apartments, luxurious common areas, wonderful amenities and practical services.
Another major factor in choosing the right independent living community for you is cost. It may seem most logical to choose the most affordable housing option, but an inexpensive independent living community may not offer all the amenities you need or want. So how exactly do you choose?
The factors that most influence the cost of retirement living include:
- Location — Depending on what state and city you choose to reside in, the cost of retirement living could fluctuate.
- Size of Residence — When you explore independent living communities, choose a space that accommodates your needs. Living spaces can vary from a small one-bedroom apartment to a spacious two-bedroom living area.
- Amenities — Independent Living communities offer a variety of amenities to help you pursue your life's interests. Choose a community that offers a wide variety of amenities. These may include an art studio, library, computer lab, swimming pool, café or fitness center.
- Activities — Consider a community that allows you to engage in activities and experiences that keep life enjoyable. These may include entertainment, outings and fine dining.
How You Can Pay for Retirement Living
Finding the right financial plan for you is important, but consider some of the following payment options you can use to your advantage:
- Personal or Family Money — To pay for senior independent living, you can use assets that you have accumulated including stocks, savings and any income you have from a job or investments.
- Pensions and Social Security — This is one of the primary sources of income for many seniors and can be helpful in covering the costs associated with senior independent living.
- Ask an independent living community representative for additional resources. They should know about any additional financial assistance available.
Talk with family and develop the best payment options for your individual circumstances. Remember, moving into a retirement living community can offer you the chance to regain your zest for life and eliminate the burdens associated with everyday living.
Information on this page is for general purposes only and is not intended to be a substitute for financial, legal, tax, accounting or other professional advice. Call Brookdale for more specific information.