Pacifica Senior Living Blog

Budgeting for Change: Understanding the Costs of Senior Living

Jun 22, 2023 10:55:06 AM / by Pacifica Senior Living

Researching senior living communities can be an emotional experience. From entering a new life stage to downsizing from a loved family home – there are many factors that can make choosing a senior living home difficult.

Deciding what works for you or your family member financially is one of the biggest questions. It may seem daunting, but financial planning doesn’t have to be scary, or complicated.

Understanding costs and expectations can make the whole process more manageable and less stressful. 

Understanding the Costs of Senior Living Communities.

The cost of assisted living, independent living or memory care senior communities is often the first topic of conversation among families researching senior homes. To understand what goes into the pricing of living at a senior community, it’s helpful to know what is typically included.

Comparing rent costs can be misleading, as most senior living communities have a variety of amenities, services, bills, and care options included in monthly fees.

At our Pacifica Senior Living communities, our all-inclusive pricing generally covers:

  • 3 Freshly Prepared Meals Per Day
  • Heat, Air Conditioning, Electric, Basic Cable
  • Weekly Housekeeping & Laundry Services
  • Onsite Salon & Spa Services
  • 24/7 Onsite Nursing & Caregiving
  • 24/7 Emergency Response Systems & Support
  • Social & Recreational Activities

Budget Annually

All-inclusive pricing not only makes things easier and more stress free, but when you compare an all-inclusive monthly fee with rent plus maintenance, utilities, grocery bills, medical costs, and any other costs for home upkeep, senior living can in fact be a more cost effective option.

Because of this, it often makes sense to take a look at your budget for an entire year, rather than compare monthly costs.

This way, you can get a more accurate understanding of how your costs will differ over a full yer in a senior living home, compared to the price of living at home.

Costs such as utilities, home upkeep, medical appointments etc. rarely occur on a monthly time line, but will add to your overall cost of living.

In a senior living community, these costs are eliminated, or bundled into a standard community fee spread across all months.

Weigh the Pros and Cons

Comparing costs alongside a pro and con list can be incredibly helpful. Create a list of fees and expenses you generally spend at home, versus what you will pay in a community. This will help you not only compare costs, but costs you currently have that you may not need in a community, and also help you decide what services or care fees you or your loved one will need in their new senior living community home. 

Reach Out to Us!

Pacifica Senior Living has resources available to help future residents make the best financial decisions possible. We understand that everyone’s situation, budget and needs are different, so we work with you to help you understand the costs of our communities. We will also help you walk through your budget, address any concerns, and assist you as you navigate what services, amenities or luxuries you need or want oin your new home.

Understanding the full picture will help you feel better prepared to make the move, or to start discussions with a friend or loved one about them moving to a new community.

Come meet with a member of our Community Relations team to help you answer any questions, and address any concerns. We are here for you every step of the way! 

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Tags: Moving, Budgeting & other Resources