Thinking About Moving To A Senior Living Facility? It May Be More Cheaper Than You Think!

The best candidates for a senior living facility are older adults who would benefit from around-the-clock assistance — but still value their independence. There are many advantages to assisted living; however, your choice to move to a senior living facility will vary depending on your lifestyle needs. Fortunately, many senior living facilities are now much more affordable than they've ever been.

If you're thinking about assisted living, or have a family member who might benefit from assisted living, keep reading to find out about the pros and cons.

With more and more banks going online and saving on the cost of having a physical premises, customers have choices. Many banks offer generous incentives to get your business — some as much as $700 just to open up an account.

If you’re looking for the best bank deals on offer today, here are some of the best bonuses available.

What Are The Benefits Of Senior Living Facilities?

Senior living facilities are a safe and relaxing place where aging people can enjoy their life while also receiving the support they need. Many assisted living communities provide a home-like setting, with plenty of personal freedom and the privacy that you need — without having to worry about the burden of home maintenance and yard work. Plus, senior living facilities also offer fun daily activities, such as group meals, exercise classes, games nights, wellness programs, educational activities, fun outings, and much more.

Not only do senior living facilities provide structure and security for seniors, but they're also a great place to socialize and meet like minded people. Plus, you can relax, knowing that if you need help with daily activities like bathing, dressing, and taking your medication, someone will always be there to assist you.

As we age, our health can change rapidly. It's useful to know that assisted living facilities offer a flexible living arrangement that can be quickly adapted to meet your changing needs.

How Much Do Senior Living Facilities Cost?

Pricing for senior living facilities is typically broken down into rent and services. Rent covers your living space, and services are usually your meals, housekeeping, activities, and the level of personal assistance you require. The overall cost of staying in a senior living facility will vary depending on key factors such as where it's located, the amenities it provides, and how luxurious the living quarters are.

Senior living facilities are typically cheaper than nursing homes. On average, you should expect to pay around $3,500 per month. Although this may seem like a considerable expense, it often works out much cheaper than staying in your home and hiring help to take care of you.

Why Are Senior Living Facilities Becoming Cheaper?

The U.S. has an aging population. There are currently more than 46 million adults over the age of 65 living in the U.S. In fact, by 2050, that number is expected to increase, meaning by 2030, 1 in 5 Americans will be 65 years old and over.

Naturally, with an aging population, the number of adults residing in senior living facilities is expected to grow. In anticipation of this increased demand, many companies have already begun building senior living facilities to accommodate older Americans. Currently, there are more senior living facilities than needed, leaving many rooms empty. This is great news for seniors who are looking to make the transition now, as it's possible to get some great deals on senior living facilities.

Where Can I Find The Best Deals On Senior Living Facilities?

You may be wondering whether you can negotiate senior living costs, and the answer is, "Yes!" It's possible to negotiate your senior living costs. In fact, many places even offer deals and specials to new residents.

When viewing potential facilities, be sure to ask them about their prices and whether they're currently offering any move-in incentives. Some facilities may be willing to negotiate their monthly cost or waive their entry fee, so it's always a good idea to enquire.

Depending on the facility's location and the time of year, they may have a surplus of vacancies and could be willing to offer a discount — all you need to do is ask!

Find An Affordable Senior Living Facility Today

If you're looking to make a move into a senior living facility, it's crucial that you do your research and find somewhere that you'll be comfortable. Depending on your needs and your level of independence, you may decide to opt for a facility that offers an "all-inclusive" package, or "a la carte" pricing.

The best place to look for affordable senior living facilities is online. There are many websites aimed at helping seniors and their families find facilities that meet their needs. With a simple internet search, you can find a range of senior living facilities and deals to compare.

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