Unraveling the Cost Factor in Assisted Senior Living
Studies show that about 2% of senior citizens - roughly one million - live in assisted living communities. These communities are ideal for improving senior health and helping to care for aging members of our society who need some assistance.
For some, choosing to move to an assisted living center is difficult. One of the many factors that makes it tough is the financial cost of a senior living community. How can you find the best option by comparing the cost of assisted living facilities?
If you're struggling with your financial choices, we're here to offer guidance. Read on for a quick overview of the factors that affect the cost of your community. We'll also discuss ways to find an affordable community.
Comparing the Cost of Assisted Living Facilities: Where to Start?
What leads to the variations in cost between two different living communities? Most often, it's a difference in the services they offer, the size of their community, and a few other factors.
Ultimately, your budget can restrict which community you join. However, it's important to have a set of requirements that you don't budge on. One important one may be ensuring that your loved one is getting the care they need and deserve.
Here are some of the most important factors in the cost of assisted living communities.
Size of the Community
The size of the community will have a large impact on how much it costs. However, it isn't always a direct relation. For example, smaller communities are not always less expensive.
Some smaller communities have lower costs because they offer fewer amenities. These communities may not have many of the things that help seniors feel comfortable, such as transportation services, kitchens large enough to cook in, and more.
On the other hand, some smaller communities are specialist communities that cost more to offer specialized care. Large communities are sometimes less expensive because they have more rooms available, but they can also cost more because they offer more services.
Don't only base the price on the size of a community. It's best to look into some of the many other factors to have a full view of how much you expect to pay.
Offered Amenities
Amenities are likely going to be the dominant cost factor for most assisted living centers. Amenities are features that a community offers you that help improve your stay.
Some amenities are health-related, such as offering exercise programs and areas to practice fitness. Others focus on the resident's quality of life, such as outdoor areas where seniors can get some fresh air and enjoy the community more. Many of these blend, as there are genuine health benefits to many quality-of-life amenities.
Other amenities may go more in-depth. Some assisted living communities offer access to a shopping area and beauty boutiques to help make it feel more like home. Naturally, places that offer such thorough and unique amenities often cost significantly more.
You should consider what sort of amenities you or your senior will want. An assisted living center that has no amenities can feel dismal and unloving, which can have severe impacts on your mental state.
That said, keep track of what amenities increase cost more and which can be trimmed out. Have an earnest conversation with your family about what amenities are worth paying extra for.
Location of the Community
Like any form of housing, the location of the community can have a drastic impact on its cost. Many neighborhoods and suburbs will charge more due to their location.
For example, access to leisure attractions or local facilities like schools and mailing centers can drive up costs. If you don't intend to spend much time out of your assisted living community, these societal amenities are increasing your rent without providing you much value.
On the other hand, it's often important to be close to your family. You may have family that lives in these areas, and putting more distance between you and them can make visits rare. Sometimes, it's worth paying extra to be near family.
By the same logic, you can sometimes find cheaper accommodations by finding a living community that isn't nearby much else. You may need to shop around a bit and research any area you aren't familiar with.
Staff Available
Assisted living center staff are responsible for the safeguarding and caretaking of their community members. You should look into the ratio of staff to residents to see how much care they're able to provide.
If there are drastically more residents than staff, staff may be stretched thin. The cost of rent might be low, but that's because there aren't enough caretakers to go around!
Other staff to consider are medical professionals who serve the senior living community. If you have a medical condition such as dementia, having someone who can help you is crucial.
Services Offered
If you're struggling to care for your aging parents, knowing what services the community offers is crucial. Services and amenities often go hand in hand, so you'll often find them while doing research.
Services can include housekeeping, dietary aid, medication management, and more. These are crucial not only for the comfort of the residents but also for their safety. Make a list of things that your loved one will need and ensure that the assisted living center offers the services necessary to ensure your loved one's comfort.
Finding the Right Senior Living Community
When comparing the cost of assisted living facilities, it's important to have a baseline of what you will and won't accept. While budget is crucial, joining a community that doesn't offer what you need will end with you needing to relocate. Do your best to understand your needs and find a home that best fits your desires.
At the Addington Place of Clinton, we're proud to provide one of the best communities in Iowa. For veterans who are concerned about price, we're happy to offer veteran benefits and $1,000 off of one month of rent. Contact us to see which of our living options best suits you.