When considering whether you should make the move to a senior living community, one important factor to keep in mind is cost. You may be wondering if aging in place or making the move will be more cost-effective, but one thing you should remember is that most senior living communities include all the services and amenities you require in one monthly payment. On the other hand, living at home can come with a lot of additional expenses you may not have considered. As you follow along in this guide, write down the monthly amount you spend on each category and add them up.

Accommodation, Property Taxes, and Insurance

If you are aging in place, you will be making mortgage or rent payments in addition to property taxes. If you are lucky enough to have paid off your mortgage, that may be one less expense to consider, but you still have taxes and homeowners’ insurance to take into account. For many elderly, the reality is that mortgage or rental payments account for the bulk of their monthly expenses. This is on top of the cost of housekeeping and maintenance services you may be engaging to help you keep your home clean and comfortable.

Utilities, Groceries, and Transportation

Every month, bills have to be paid and groceries have to be purchased. The cost can quickly start to add up, particularly if you are struggling with meal planning and preparation. Portioning out meals for one can be tougher than cooking for a group, especially if you are not used to it. If you drive, you will have to factor in the cost of fuel and motor insurance.  Add up the average amount you are spending on utilities, groceries, and transportation every month and you may be surprised.

Home Care and Other Services

Do you have a home health aide or caregiver come over a few hours each day, or perhaps they live in? You may even have more than one caregiver attending to your needs on a rotational basis. In addition, you may be paying for cleaning services, especially if you have trouble attending to housekeeping responsibilities due to mobility restrictions. Keeping on top of all these payments every month can take some work and you may find that it starts to add up.

Healthcare and Medical Expenses

Do you have a medical condition that needs constant monitoring? Or maybe you have a mobility limitation and require the use of assistive devices to get around. Factor in the average cost you are spending on healthcare monthly, including doctor’s fees, the cost of any medications and assistive devices not covered by insurance, and any therapy you may be receiving.

Retirement Communities Make Budgeting Easier

After doing the calculations, are you surprised at how much you are spending monthly? Or do you find that you have trouble remembering how much you paid for what, and when you did so? When you make the move to a senior living community like Discovery Village At Boynton Beach, the amenities and services you require are included in one monthly payment, allowing for ease of budgeting.