Seventy-five percent of older adults plan to live in their current homes for the rest of their lives, according to the 2015 United States of Aging Survey, highlighting the latest senior trend: aging in place. While this trend may be the best option for some seniors, the hidden costs that emerge over time may make aging at home a more costly route.
Holiday Retirement uncovers the costs of aging in place, both for seniors and their loved ones, in a new e-book, “7 unexpected financial benefits of living in a senior living community.” With this senior living resource, seniors and their families can quickly gain an understanding of potential unknown costs, calculate their own anticipated expenses, and understand the benefits and drawbacks of aging in place versus moving to a senior living community.
“Letting go of a beloved home can be difficult, however time and again we hear from our new residents they wish they had not waited as long to move to one of our communities,” said Jamison Gosselin, vice president of marketing, communications, and resident enrichment for Holiday Retirement. “What seniors and their loved ones need to keep in mind is that the costs of staying put, many of which aren’t immediately apparent, can mount quickly and become a challenge as the issues of living at home alone snowball. While moving may come with short-term hassles, the long term benefits of a move to a senior living community are tremendous.”
The free resource for seniors and their families outlines seven unexpected costs that should be considered when making the important decision of where to age, including:
- Unanticipated expenses associated with home ownership.
- Costs associated with maintaining an active social life and community involvement.
- Healthcare costs.
- Intangible costs associated with caring for a loved.
For more information on aging in place versus in a community, including a cost-of-retirement checklist, visit HolidayTouch.com/why-move and request the free resource, “7 unexpected financial benefits of living in a senior living community.”
