Understanding the Value
When assessing independent living, the value comes from the comprehensive services and the lifestyle included. These communities offer a resort-like atmosphere with spacious living spaces, concierge services, fitness centers, pools, dining options, and even beauty salons. They’re often pet-friendly too.
Beyond leisure, independent living provides practical benefits like housekeeping, lawn care, and transportation, reducing the burden of home maintenance. This allows residents more time to enjoy activities and social interactions, something that can be harder to achieve at home.
Furthermore, residents can have peace of mind knowing that one monthly fee covers all these services. Independent living can even save money compared to living independently at home when factoring in all the associated costs—maintenance, utilities, transportation, and more.
Comparing the Costs
By breaking down your expenses at home versus those in an independent living community, you'll likely find the latter provides a better value.
| Living Expenses | My Expenses | Community Expenses |
|---|---|---|
| Mortgage / Rental Payment | $________/mo | included |
| Homeowner’s Insurance | $________/mo | included |
| Property Taxes | $________/mo | included |
| Grocery Cost | $________/mo | On-site Dining Available |
| Housekeeping / Laundry Services | $________/mo | included |
| General Maintenance (e.g. painting, plumbing, electrical repairs, roofs, etc.) |
$________/mo | included |
| Lawn Maintenance (e.g. mowing, tree trimming, etc.) | $________/mo | included |
| Utilities (Varies by community) |
My Expenses | Community Expenses |
|---|---|---|
| Gas / Electricity | $________/mo | included |
| Internet Service | $________/mo | included |
| Water | $________/mo | included |
| Disposal Services | $________/mo | included |
| Safety | My Expenses | Community Expenses |
|---|---|---|
| Home Security System | $________/mo | included |
| 24-Hour Emergency Monitor | $________/mo | included |
| Automobile Expenses (Varies by community) |
My Expenses | Community Expenses |
|---|---|---|
| Car Payment / Transit Fees | $________/mo | Community Vehicle |
| Gas / Oil / Tires | $________/mo | Community Vehicle |
| Licensing and Registration Fees | $________/mo | Community Vehicle |
| Auto Insurance | $________/mo | N/A |
| TOTAL EXPENSES | $________/mo | $________/mo |
|---|
