Comparing the cost of an active adult retirement community versus living in the family home is something many seniors do, but often the comparisons miss several key points when it comes to affordability. When trying to decide if you can afford an active adult retirement community, be sure to include the following in your breakdown of the costs.
Home and home upkeep
Your home is your castle but it can be more costly to maintain a home than you realize. For example, there is the mortgage, homeowner’s insurance, property taxes, utilities, homeowner association dues, and renovations for aging in place safely which add monthly or annual costs but that are just taken in stride.
Another angle is that of home maintenance and repair. Often the costs of living at home are spread out over time and rarely added up so they may seem inconsequential. In fact, however, maintaining a home can be pretty costly. According to the realestate.usnews.com article “How Much to Budget for Home Maintenance,” these costs can range from a few hundred dollars for things like sprinkler system and HVAC system repairs, to many thousands of dollars for a new furnace, air conditioner or roof. Then there are the middle-of-the-road items like dishwashers and refrigerators as well as help with lawn care that can cost more each year.
In an active adult retirement community residents are free from many of these costs because they are included in the fee and so there’s no need to worry about increasing utility bills, the roof or refrigerator, or other maintenance or repairs because they are part of the package.
Retirement offers seniors all the time they want to enjoy the finer things in life. Whether that means seeing more movies, improving your pickleball game or just hanging out poolside with friends, the costs of doing these when living at home can be startling. For example, movie theater ticket costs are rising and are approaching $20 each for 3D movies, which are becoming common. Another high cost is that of a country club which includes monthly dues, court costs and additional fees for guests. These costs, according to thepricer.org, can be less than a hundred dollars to many thousands depending on exclusivity and amenities.
Life in an up-scale active adult retirement community like Sonrisa Senior Living is like living at a resort and includes a variety of entertainment options from a movie theater and media room to state-of-the art fitness center and resort-style pool to bocce ball and pickleball courts to a yoga and dance studio. Free planned entertainment is always on the agenda as well in an active adult retirement community, and there are also more options nearby like festivals and cultural venues to enjoy in Roseville. Learn more in our blog, “Live Well During Retirement in Roseville.”
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Eating well is key to aging well but planning shopping and cooking well-balanced nutritious meals can become a challenge that many seniors don’t have the time or desire to overcome. When this happens nutrition may suffer and this will be reflected in their overall health. Needless to say, the costs of food have also escalated, to the point that the cbsnews.com article, “Prices are falling, but not for food. Groceries remain a ‘pain point,’” notes grocery prices have leaped 11.3% in a year, surpassing even the 8.7% Social Security cost-of-living increase.
In an active adult retirement community however, residents can cook in their own modern kitchens or enjoy amazing chef-prepared meals in the formal dining room, poolside, or at one of the other dining venues like a bistro or lounge. They may even be able to order meals to their apartment when they want to relax. Best of all, meals are included and different meal plans are available.
Security and personal safety
Keeping safe and secure in the family home can become costly when considering home and personal security measures. For starters, many top home security systems have a substantial base price (generally in the hundreds of dollars) as well as monthly fees and can be tricky to operate. Then there are personal safety devices like alarms, medical alerts, watches and others that are generally fairly inexpensive but may have monthly fees and are not very useful if the wearer cannot activate them or there is no one close by to help.
An active adult retirement community like Sonrisa, makes safety and security a priority so residents have 24/7 year-round peace of mind that an emergency can be handled quickly. Even when they travel, they can do so knowing their home is protected and there will be no surprises when they return.
Active adult retirement living at Sonrisa has so much to offer healthy seniors who want the best life has to offer. Contact us to learn more and schedule your tour today! Download our free Guide to Independent Living to learn more.