Comparing Costs of Home Care vs Independent Living

Senior Woman calculating her budget from the couch

When it comes to comparing senior living options, there’s no doubt that cost is on many of our minds. When you’re planning for long senior term care, you want to make sure the money you have goes far and allows you to live happily, healthy, and comfortably well into retirement. Here, we go into more detail regarding cost comparison between seniors who are deciding whether to stay in their home or join a Life Plan Community.

Home Care & Independent Living: Two Popular Care Options for Independent Seniors

Home Care and Independent Living are two popular care options for seniors who live an active lifestyle, but still need a little assistance or easy access to health care. By reviewing the upfront (and hidden) expenses associated with each, you will find that staying at home is not necessarily cheaper than you might think.

Home Care Costs

When comparing senior care, it’s easy to just compare the cost of having someone come to your home versus living in an independent living community, but you have to remember that living at home isn’t free. There’s rent/mortgages, utilities, taxes, and property maintenance to consider like repairs, landscaping, and cleaning services. Furthermore, the more you age and the further your health needs develop, you may require modifications to make your home accessible and easy for you to move around, like installing ramps, a walk-in shower, widening doorways, etc. These expenses are all in addition to the senior homecare services you are paying for, which are typically priced by the hour. If your health conditions require more hands-on help, the cost of living at home can increase beyond your initial estimation.

Independent Living Costs

With independent living communities, one monthly cost is all-inclusive of many of your traditional monthly expenses. Your monthly rent includes your room and board, utilities, and repairs, in addition to amenities like fitness centers, transportation services, dining options, daily scheduled activities, and field trips, that your independent living community offers. As your health needs develop, you have easy access to health care right in the community. If you should need more hands-on care, you can often transfer to an assisted living facility in the same family as your independent living community.

Which is Cheaper: Home Care or Independent Living?

Whether home care or independent living is the cheaper choice for you ultimately depends upon the level of care you require currently and what you will require in the next several years. The benefit of independent living communities is that a fixed cost is displayed right up front, so it’s easier to budget for the long term. With home care, there’s no guarantee that what you would spend in a given month today will be the same as five years from now.

Need Help Deciding Which Option is Right For You or Your Loved One?

Whether you’re interested in learning more about the differences between home care and independent living, or a different senior living option, The Wesley Community can help! We are Saratoga’s premier provider of senior lifestyle solutions, offering several different programs to keep seniors happy and healthy. Contact one of our senior living specialists to discuss your senior care options today!