If you’re considering yourself, parents or loved ones to live in a senior living group, it’s important to know how much it costs so you can budget accordingly.
Costs can differ significantly depending on factors such as location, lodging, appropriate quality of treatment and additional facilities and service charges.
Fortunately, developers have been dramatically over-building developments in senior housing as they expect the number of seniors in America would double in a decade.
This simply means that senior housing is in demand right now and cities are struggling to fill their vacancies.
And if you dig around in the right places, you will find incredible offers.
What Does Senior Housing Usually Cost?
As of 2016, The Cost of Care Survey recorded a 2 percent rise in the national median rate for a one-bedroom living facility to the $3,628 per month mark.
The same study showed that the average cost of a semi-private room is $3,628 a month, while a private room costs more than $7,500 per month.
It is a 5 per cent rise overall over the last five years. Senior living, at this pace, will quickly become a luxury that only a few can afford.
Yet rates are slightly down, with an unforeseen increase in new senior living choices such as multigenerational communities, compact senior communities and more.
After several years, offers on senior living are available for the first time, if you are looking in the right places.
The Statistics They’re Not Telling You
According to the National Center for Assisted Living, more than 28,000 assisted residences currently exist in the U.S., housing more than one million residents.
Although in theory this appears reasonable, the number of seniors is expected to nearly double by 2035.They are looking to double or triple the number of residences within 10 years, in response.
Construction has already started as neighborhoods and housing developers plan for the growing number of senior citizens seeking a place to stay.
Which leaves a time gap in which the number of assisted living and nursing homes will outstrip the number of seniors living there.
Despite of this, the prices would drop sharply to fill the rooms in each house. In an attempt to get seniors moving into these new housing options, developers are providing discounts, offers and rewards to seniors who are able to move in.
Although demand remains weak, rates will instantly be affordable for the senior housing. In the last 2 years, cities like Colorado Springs Colorado, Scottsdale Arizona, and Huntington Beach California have all seen the rise in senior living with upto 20 percent bumps.
And locations such as Alaska, Mississippi, Malaysia and Thailand let you retire with little or no savings taxation.There’s a fantastic chance for you and your loved ones to save big on senior living expenses.
Where to Find The Best Senior Living Deals
Those offers exist, but they are not advertised everywhere. Why? For what? Since residences do not want to lose money during times of reduced demand.
Navigate listings for this purpose, to find offers that are not advertised elsewhere. Seniors need to act now before demand rises to obtain the best offers and lowest rates.
When you’re trained you can get savings way ahead of the rest of the senior population. Make the move into senior housing now, and you will save tens of thousands of dollars in coming years.
You have to do the work. Study the town and surrounding area and find out what sort of opportunities are available for senior living.
Start now – don’t wait until the number of seniors rises and deals are gone.