Making the transition to senior living can be easy if you have the right information. It’s important to consider how this move will impact your finances. With this senior living cost calculator guide, you can do that with ease.
We invite you to use this as a cost calculator for senior living as your starting point. At Westminster Place, we offer luxurious senior living conditions for you to enjoy during your best years of life. Get in touch with us at 903.329.6520 today to learn more about what we have to offer.
The Costs of Senior Living vs. Staying at Home
Every person will have a slightly different senior living cost. It depends on the community you choose and the assistance you receive. However, it’s beneficial to use a senior living cost calculator to prepare your finances.
There are lots of costs associated with living on your own after retirement.
Here are just a few of the things you have to pay for if you don’t move to a senior living community:
- Rent or mortgage
- Water
- Electric
- Trash
- Gas
- Home repairs and maintenance
- Landscaping and yard care
- Groceries
In short, owning, or renting your own place gets expensive fast. We include all of these expenses in the price you pay in our senior living community.
Costs Of Senior Living To Consider
In order to calculate the costs and benefits of senior living, be sure to look at some of the following:
Included Amenities: Life Enrichment and Enjoyment
You don’t have to pay more for our luxury amenities. You can enjoy the delicious meal options, outings, and wellness programs included in your total senior living costs.
At home, you’d have to cover the cost of each of these beneficial activities and living options. However, you can save time, money, and hassle by opting for a total-cost senior living program instead.
Extra Senior Living Expenses: Your Level of Care
If you choose specialized senior living care, like memory care or assisted living, you may pay more. Independent living is one of our lowest-cost options.
However, if you need extra help in your daily life, the peace of mind you gain is priceless. With our specialized senior care, you get everything you need to stay safe, happy, and healthy.
Location and Local Economy
Where you choose to live will play a large role in your costs of senior living. These types of communities may cost more in larger cities or more expensive areas than in rural towns.
The local economy is another factor you should consider. If you plan to participate in frequent outings and independent activities in the local area, you’ll need to prepare your checkbook.
Research your desired area’s average prices for food, entertainment, shopping, and personal care items. This will help you budget and serve as an effective part of your cost calculator for senior living.
Community Quality: Getting What You Pay For
In most cases, you “get what you pay for” in terms of senior living costs versus quality. Lower-quality communities may offer attractive pricing, but you or your loved one will have a lower-quality experience there.
On the other hand, enriching communities with luxurious amenities (like ours) offer endless opportunities for personal growth and happiness. What’s more priceless than a good quality of life?
Always be direct and ask plenty of questions about the cost breakdown of each community you tour. Senior living is all about enjoying your post-retirement life—you deserve transparent answers. In our community, we offer those answers readily.
Schedule a Tour of Westminster Place to Learn More About the Senior Living Experience
At Westminster Place, we’re committed to offering diverse, quality senior care. We’re here to guide you into senior living with transparency, honesty, and warmth while helping you make the right financial decisions for your needs.
When you or a loved one needs support in senior living, turn to the skilled and caring team at Westminster Place at 903.329.6520 or use our online contact form to learn more about senior living.