Atlanta retirees whose kids left the nest long ago often find that their homes are now too big and require too much work to maintain. They’d much rather be out enjoying life with their friends, instead of at home mopping the floor or mowing the yard.
For them, a move to a senior living community in Atlanta makes plenty of sense. They’ll still have their freedom and their privacy, but someone else will take care of their chores and cook their meals. Plus, there’ll be so much to do, and many people to do it with.
But even before they start their search for senior living, they want to know how much it is going to cost. There’s no simple answer to that question, but the good news is that it’s probably less than you think.
According to the Genworth Cost of Care Survey, the median cost of assisted living in Atlanta is $3,750 a month. This might sound like a great deal of money until you take a closer look at just what you are paying for. If you add up your current expenses, including your mortgage payment, utilities, food, home maintenance, and property taxes, you might find that moving to a senior living community could actually save you money!
The Arbor Company operates more than 40 senior living communities in 11 states. Use our free cost calculator to see just how much money you spend every month and find out whether it’s more or less than what you’d spend on senior living.
Ways to Save on Senior Living
Here are a few ways to make the cost of senior living more manageable.
- Shop around.
Senior living communities vary in size, location, and types of amenities offered, as well as in price. Though some may be out of your budget, others might not be.
- Know what you are paying for.
Some communities charge one price for everything. At others, you’ll pay a la carte for the extra services you need, such as medication management. Knowing exactly what it will cost up front will save you unpleasant surprises when you get the bill.
- Ask about specials.
Communities sometimes offer a discounted rate, or one month free if you move in by a certain date.
- Negotiate fees.
Most senior living communities charge a one-time move in or community fee. If you ask them to, they may waive or reduce this fee.
- Consider a smaller room or a roommate.
A studio will cost less than a one-bedroom. And in some communities, splitting a two-bedroom unit is less expensive than a one-bedroom.
- Factor in outings and extras.
Senior living communities often take residents on outings to restaurants or nearby attractions, which the residents are expected to pay for.
Ways to Pay for Senior Living
- Your monthly Social Security or pension check.
The money you are living on now will probably account for the majority of what you pay after you move.
- Savings or investments.
Now is the time to use the money you put away for retirement.
- Sell your home, or rent it out.
The proceeds from the sale of your house or the monthly income you get for renting it out will be a big help in paying your bills.
- Veterans benefits.
Veterans who served during wartime (even if they didn’t fight) or their surviving spouses may be eligible for Aid and Attendance. This benefit could cover a large portion of the monthly cost of assisted living.
If you are interested in senior living in Atlanta, you might want to consider Arbor Terrace at Cascade. Our representatives will be happy to recommend affordable options for you or your senior loved ones. Call 404-691-0304 today to arrange a tour.