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Your Parents are Seniors - Plan Now to Save Money

Whether your search for senior housing is prompted by a family member’s serious medical condition or the desire for a lifestyle change, finding the right place to live can be challenging and stressful for both you and your family. However, the earlier you assess your current needs and how those needs may evolve over time, the more choices and control you’ll have.

Today we discuss briefly the different types of senior housing available, you can make the choice that’s right for you and ensure you enjoy a happy, healthy, and fulfilling home environment as you age.

This is always a sensitive subject and for many families a taboo. It doesn’t have to be and they will be thankful if you sit down and talk about their plans early.

As a SRES many of my calls are about counselling and very few lead to listings or contracts.

Making the decision to age in place or move.

How many family members are there? Who is the decision maker?

Transition can be up to three times once one can become a Senior.

Items to consider when aging in place.

                Stairs Accessibility

                Current condition of the home

                Modifications planned.

Hardest thing is Change – Losing your Independence

Discussing with a Elder Law Attorney and setting up Trusts vs just a Will

Medicaid’s Asset Transfer Rules – Look into it early as it will cost you down the road.

Types of Housing

                Aging in place

                The Village Concept

                Assisted Living

                Nursing Homes

 

Comparison of Senior Housing Options in the U.S.

Feature or Service

Independent Living

Assisted Living

Nursing Home

Approx. Cost per Month 

$1,500 – 3,500

$2,500 – 4,000

$4,000 – 8,000

Meals per Day

Meal Plan Options

3+

3+

Medication Management

No

Yes

Yes

Personal Care

No

Yes

Yes

Mobility Assistance

No

Yes

Yes

Accepts Wheelchairs

Yes

Varies

Yes

Alzheimer's/Dementia Care

No

Varies

Varies

On-Site Nurses

No

Varies

Yes

Transportation 

Most Yes

Most Yes

Yes

Incontinence Care

No

Yes

Yes

Housekeeping 

Varies

Yes

Yes