May 10, 2022 - Assisted Living
Comparing the Cost and Value of Assisted Living With Care at Home
Cost vs. value: it’s a subject that can’t be ignored when considering supportive care for yourself or your loved one. Is it more economical to live at home and receive care, or is the cost of assisted living better due to the value of access to exceptional services and amenities?
At Peregrine, we’re redefining care—as well as the expectations of aging—and we want to give you the information you need to decide what works best for you and your family.
Cost of care at home
If only paying for living at home meant just a mortgage or rent payment! But we all know otherwise. There’s food. Utilities. Home maintenance. Property taxes. Insurance. Entertainment. Security. The costs add up quickly.
Then, there’s the quality of life factor. Ask yourself: at home, can you or a loved one easily and safely access fitness and wellness opportunities, social connections and medical care? What happens in emergency situations such as power outage, a fall or other unexpected events? Do you ever feel lonely, or even fearful because you are alone? These are “costs” that can chip away at your peace of mind every minute of the day.
Some examples of what it costs to live at home and receive care:
- In-Home Care:
- Homemaker services: $4,957 monthly
- Home health aide: $5,148 monthly
- Home Safety
- Installing safety features (like wheelchair ramps and bathroom handrails) could cost between $9,000 and $12,000
- Home Maintenance
- Furnace and central air conditioning system replacement is approximately $10,000
- Lawn care for 10 years is approximately $25,000
- Replacement windows for an average home is $11,000
- Average roof replacement using composite shingles is approximately $20,000
These are just a few. But you can see why it’s so important to do an apples-to-apples comparison when looking at the costs of care at home, versus the cost of assisted living.
According to a Genworth 2021 cost of care survey, the average monthly cost of assisted living in a private, one-bedroom residence is $4,500. The cost of assisted living housing varies greatly by location, with a monthly rental fee that covers the basic services such as:
- Rent & utilities
- Interior and exterior maintenance
- Scheduled transportation
- Social activities and wellness programs
- Special outings
- Access to a range of desirable amenities
- Fitness and exercise opportunities
- Countless opportunities for socializing
Assisted living also includes assistance with activities of daily living.
It’s precious peace of mind for you and your loved one, to know that a helping hand is always available day or night, 24/7. As an assisted living resident, you can relax, go about your day as you choose, knowing worries about home upkeep are a thing of the past.
The value continues.
In addition, instead of driving to a grocery store to pick up some items, you can join the group for a ride to the store. Walk down the hall and have your hair done in the salon. Meet friends for lunch without leaving the campus. Exercise or learn to paint with others who share your interests. Hear a concert or watch a movie just steps from your apartment. Have family members over to join you for a delicious meal in the dining room. All without worrying about the details, driving or cleaning up.
Assisted living is all about hospitality—making life for you as carefree and enjoyable as possible—a value that’s hard to beat.