One major concern many people have when transitioning to senior living is the costs involved. At Morada Quintessence, you can be sure that the fees we quote you are always transparent and all-inclusive. In this senior living cost calculator, you can make sense of the numbers yourself and find out why the cost of residential senior living can add up to be less than that of aging in place!
The Cost of Retirement
How much do you spend monthly when aging in place? To find out the answer, you will need to take into consideration all the fees you are paying for various quarters. This includes:
- Mortgage repayments, if you have not already paid it off fully
- Homeowners’ insurance
- Utility bills
- Groceries and other essentials
- Cost of home care, whether that’s for your personal needs or to take care of housekeeping duties
- … and more!
After adding all these costs up, you may find that you are spending more to age in place than you originally thought!
What Is Included in the Cost of Senior Living?
At an initial glance, you may find that the cost of senior living is high. However, after considering what you can get with this all-inclusive rent, you will find that it offers good value for money. At Morada Quintessence, our monthly rent includes all the following:
- A stay in a fully furnished senior living apartment decked out with the senior safety features and modern fixtures you will need
- Complimentary chauffeured transportation to and from anywhere you need to go
- A schedule of activities & events you can take part in daily
- Three delicious meals a day, served tableside in our elegant dining room
- Assistance with daily living activities, including continence management and personal care assistance
- Access to an onsite senior-equipped wellness center and a diverse range of other amenities, such as a multifunctional games room and library
- … and more!
With all the necessities located right on site, you will never have to worry about not being able to access the services you need anymore. The best part is that you get all this for just one all-inclusive price!
Sources of Retirement Funding
Before making the move, you will need to ensure that you have enough to pay for senior living over the years. Below are some common sources of funding our residents tap on:
- Selling or Renting Their Home(s): As many older adults see this as a permanent move, selling or renting out their home(s) is a popular choice. If you are not ready to let go of a home that comes with many precious memories, you may opt to rent it out instead.
- Long–Term Care or Life Insurance: Depending on the specifics of your policy, you may be able to offset all or part of the cost of senior living.
- Veteran Benefits: Are you a veteran, or have you survived your spouse who was a veteran? If so, you may be eligible for certain benefits packages which can help to defray the cost of senior living.