Most older adults want to remain in their homes for as long as possible, which is understandable, however, the cost of doing so may be higher than you expect. While on the surface, staying at home may appear to be the most affordable option, hidden expenses can add up quickly, making senior living communities a more cost-effective and stress-free option.
Staying home seems like the cheaper option – especially if the mortgage is paid off. However, ongoing expenses such as property taxes, homeowners insurance, utilities and maintenance can add up. Additionally, if there are mobility issues, home modifications may be needed for safety–such as creating an ADA compliant bathroom, grab bars, ramps or stairlifts, which can cost thousands of dollars.
As health needs increase, in-home care can become another major expense. Hiring a caregiver for help with meals, bathing and medication management averages about $35/hour in our area. If 24/7 care is needed you can quickly exceed $15,000 per month. This is far more expensive than most assisted living communities.
Making the decision to either stay home or move to senior living can feel overwhelming, but you don’t have to do it alone. My services are completely free, and I can help you create a safe home environment OR find the right senior housing solution that fits your budget and needs. Let’s explore your options together and ensure you or your older loved one can age safely and comfortably.
Lori Williams is a Flower Mound resident and Certified Senior Advisor (CSA) with over 18 years of senior living experience. She is an Author, Podcast Host, Public Speaker and owner of the multi-award-winning senior placement service, Lori Williams Senior Services, LLC. To contact Lori, call 214-783-1222 or visit her website www.loriwilliams-seniorservices.com.
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