The Cost of Putting off a Move to Senior Living
There are some decisions in life that are hard to make quickly, requiring some extra thought and research. But wait too long, and you might pay a price. Considering a move to senior living is one of these decisions—the sooner you decide, the better for you, and most likely, your pocketbook.
Waiting too long to make the move to senior living could cost you
Your home’s value
If you’re like many seniors and you are relying on the sale of your home as a primary source of funding a move to senior living, you know how markets can fluctuate over time. If homes in your area appear to be selling quickly, it might be the right time for you to take advantage of the opportunity to get a maximum price for your house. As they say, “strike while it’s hot.”
Expenses of staying at home
You also want to consider all the expenses that come with staying in your home too long. In addition to regular maintenance, consider the age of your home and its state of repair. If you’ve lived there for several years, it might be time to take an inventory on the age of your kitchen appliances. How old is your air conditioning and heating system? What about the roof? Look closely at your flooring, the paint on the walls, your windows, doors, and entryways. What about your bathrooms? What would it cost to update everything?
It’s not just the regular upkeep of a home that can be costly, it’s understanding what it would cost to retrofit it for safety for aging in place. According to Age Safe America, 90 percent of older Americans say they favor aging in place, yet 85 percent have done nothing to prepare their homes for aging. For example, installing safety features in the bathroom. Enhancing the lighting both inside and outside the home. Adding handrails in hallways and making sure doorways are wide enough to accommodate mobility devices.
While you might currently be living successfully in your home and don’t require any special modifications now, things can change suddenly and require an immediate change. The price of renovating a home for aging in place can vary widely, with the national average estimated to be between $3,000 to $15,000—however, renovating an entire bathroom alone is estimated to cost between $20,000 to $25,000.
Rising fees
If you make a decision about a move to senior living now, you will have the information you need about current monthly fees, moving costs, and other associated expenses. Waiting too long will most likely result in paying a higher price for everything. It might be worthwhile to consider the peace of mind you could enjoy knowing you’ve made a decision that will save you funds in the long run.
Rising health care costs
Without a crystal ball, it’s hard to pinpoint just how much health care costs will go up in the future, but it’s clear it will be significant. You may be in excellent health at the moment, but when needs change, think how reassuring it would be to know you have a plan in place that can help protect you from costly surprises that affect your budget.
And it’s not just about money. The emotional cost you will pay if you or your family suddenly have to make difficult decisions about your care could be significant. Making a move to senior living now would give you the reassurance of knowing where you will be should you need supportive care, as well as who will be providing that care. No need to make a move and adjust to new surroundings or new caregivers.
Missed opportunities
Living at home can be a lonely proposition when friends have moved away, and family members are busy with their own lives. It also can become dangerous to a senior’s mental, emotional and physical health if they begin to feel lonely and isolated. But a move to senior living can change that by offering a lifestyle filled with interesting activities, fun events, holiday celebrations, lifelong learning, fitness and wellness programs, nutritious and delicious dining, group outings and so much more.
Make the move to senior living sooner rather than later—and find a place that feels like home!
Senior living, the Lutheran Social Services of Central Ohio way
At LSS Senior Living, our goal is to offer seniors quality care and comfort in a friendly and warm environment that feels like home. We offer a continuum of services to lend a helping hand when you need them. Find out more about our communities:
Speak to an advisor today, we’re here to help. Download our free guide, A Family Guide to Funding Senior Care & Housing to learn more about the costs of moving to senior living, and how to prepare.