Moving into a retirement home or assisted living facility represents an exciting shift in life. It promises comfort, convenience, and activities to help promote a sense of community and belonging. But before you decide to move into one of these facilities in Cypress, Los Alamitos, Seal Beach, Long Beach, or Hawaiian Gardens, it's essential to understand the full financial implications of such a decision. In this blog post, we'll discuss the initial and ongoing costs associated with moving into a retirement or assisted living facility and the hidden fees and benefits. By understanding all the costs associated with such a move, you can make an informed decision that works best for your financial situation.
What Are Retirement And Assisted Living Facilities?
Retirement homes and assisted living facilities provide seniors with accommodations that meet their needs. For example, retirement homes typically offer more independence than assisted living facilities, which generally require seniors to manage their daily activities. On the other hand, assisted living facilities provide additional support and care in the form of housekeeping services, meals, and medication reminders. Both options offer seniors the opportunity to socialize with their peers and continue to stay active in the community.
Initial Costs For Moving To A Retirement Home
Regarding the initial cost of moving into a retirement or assisted living facility, you need to know about a few essential fees. The first is the application fee; usually, the facility charges to process your application. Additionally, moving costs may be associated with the move, such as packing, loading, and transporting furniture and belongings.
Ongoing Costs For Moving Into A Retirement Home
Once you move into a retirement or assisted living facility, consider these ongoing costs:
- You will likely be responsible for utility bills related to your living space.
- You may need to purchase renters insurance or HOA fees if the facility requires it.
- Other ongoing costs may include parking fees, pet fees, service fees, and any additional monthly fees that the facility may charge.
Hidden Costs Of Moving Into A Retirement Or Assisted Living Facility
In addition to the initial and ongoing costs associated with moving into a retirement or assisted living facility, there are several hidden costs that you should consider.
- You receive a charged extra for housekeeping services, such as linen and laundry services.
- Healthcare costs associated with the facility may be higher than expected
- Costs of social activities
Benefits Of Moving Into A Retirement Or Assisted Living Facility
Despite the costs associated with moving into a retirement or assisted living facility, many benefits exist.
- These facilities are generally maintenance-free, so you will not have to worry about performing regular upkeep around your unit.
- Many of these facilities offer increased social activities to help you stay connected with peers and make more friends.
- Some facilities also have onsite medical professionals to provide healthcare services when needed.
We Can Help
When considering a move into a retirement home or assisted living facility, it's essential to understand the initial and ongoing costs and the hidden costs associated with such a move. At Senior Helpers Seal Beach, Los Alamitos, we understand that there are many considerations to consider when making this decision. We're here to provide you with the information and resources you need to make an informed decision. If you're a Cypress, Los Alamitos, Seal Beach, Long Beach, or Hawaiian Gardens resident, contact us today to learn more about our in-home senior care services.