When you’re entering the next phase of your life, you might start to consider your options. Whether it’s downsizing, relocating, or exploring the cost of independent living, it’s all going to come down to what makes the most sense for your finances and lifestyle now and well into the future.
Independent living communities offer various benefits to older adults like yourself that make them an appealing option for retirement. The idea of relinquishing the responsibilities of homeownership and daily chores is hugely attractive and can relieve some of the financial burdens you might currently be experiencing. Most senior living communities offer maintenance services, dining options and transportation at a monthly cost that is sometimes less than you might be spending to maintain your home.
Exploring the Cost of Independent Living Communities
The most important thing to understand when exploring the cost of senior living communities is that each community is unique. Truly, when you’ve seen one senior living community, you’ve seen just one senior living community! Some senior living communities offer independent living exclusively, while some only provide assisted living. Some senior living communities are all-inclusive, and others provide services a la carte.
Below are some things to consider when you start exploring the care costs of independent living.
Monthly Costs Can Vary Greatly
Price ranges for independent living communities can vary anywhere from several hundred dollars a month to several thousand for high-end options. The best thing you can do is to decide what services, amenities and health care offerings are most important to you and find independent living communities that satisfy those needs and offer peace of mind if needs change in the future.
Living Arrangements
One of the most significant variables in cost associated with senior living communities is the type of living arrangements offered. Most independent living communities provide several floor plans, which can range from studio apartments to one-, two- or even three-bedroom apartments with balconies and private kitchens. These upgrades will impact the monthly cost.
Levels of Care
Many senior living communities offer more than just independent living options. Many also offer assisted living or memory care options to help support individuals at every stage of retirement. While you may only be looking for independent living now, you have no idea how your needs might change in the future. Friendship Village is the only Life Care provider in St. Louis, Missouri, that offers a full continuum of care. This option will provide you with peace of mind and may be a better financial investment in the long run than having to move to somewhere new should your needs change over time.
Services and Amenities
Depending on your lifestyle, you might be interested in finding an independent living community that offers more than just essential services and amenities. By looking for a community that offers modern dining options, laundry services, housekeeping services, a fitness center, and a salon or spa, you can consolidate costs into one convenient monthly payment and continue to enjoy your dynamic lifestyle. The monthly costs for robust services and amenities might be higher, but this could end up saving you money in the long run.
Calculating the costs of independent living can be challenging alone. The most important thing you can do is determine a budget you’re comfortable with and start reaching out to communities in your area for tours. By eliminating costs associated with a home mortgage, utilities, internet, home maintenance, yard maintenance and property taxes, you might find you’re able to afford an independent living community that supports your lifestyle now and into the future.
Take Your Retirement to the Next Level
Friendship Village Chesterfield and Friendship Village Sunset Hills are faith-based, not-for-profit senior living communities in St. Louis, MO. We offer a full continuum of care that includes assisted living, memory care, skilled nursing and rehabilitation to ensure residents find the support they need now and well into the future. We encourage you to explore more about our pricing plans and cost assessment to determine whether our Life Care community might be a good fit for you. Find out how we’re giving senior living the look and feel of a deluxe resort at a predictable monthly rate. Simply contact us today.