How Much Does Independent Living Cost?
How much does independent living cost?, Can I afford Independent Senior Living, Budgeting for senior care.
If you find that you are having trouble keepign up with your household but you are not yet ready for an assisted living complex or nursing home then consider independent senior living. Independent senior living communities give you the freedom to come and go as you please but to have specific services available to you if you desire them.
Find out the Cost:
Most independent living communities ask for an upfront cash payment and then a monthly service fee. The amounts will depend largely on where it is located, what amenities are offered, and if it is a lifetime facility. A lifetime facility would take you from independent living to assisted living to skilled nursing care to hospice care. You would never have to leave the community and would be assured that you are taken care of until you pass away.
Be prepared for the independent senior living community to run a full background and credit check on you and your spouse (if applicable). They will need to be sure that you have the funds to continue paying while you are living there. This process could take awhile to complete. The upfront cash payment could run as high as 500,000 if you are asking for a large senior living apartment or villa. If you are looking at a studio apartment the upfront cost would be much lower than that. Monthly fees take in to account the on-site medical staff, housekeeping, activities, and the upkeep of the complex.
Check their available Add on Options:
Most independent senior living communities also offer a meal plan. This is not mandatory since you would have a full kitchen in your apartment or villa. It gives you the option of choosing a specific amount of meals each month and the charge would be combined with your normal monthly service fees. Sometimes they charge additional fees if you choose a covered parking spot or garage parking too.
Is the Senior Community Active Enough for You?
Activities are usually included if they take place inside the community but usually there is an additional charge if the activity includes transportation and admission tickets. Some communities will also allow you book their own transportation staff to take you to your doctor appointments. Be sure to check when asking about the usual living expenses.
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