If you’re considering the cost of assisted living before making a move for your aging loved one, it is understandable. There is a common notion that the cost of living in a retirement community will be much more than what you are now paying to live at home because of all the senior living amenities and care alternatives they provide. However, it isn’t always the case. Private in-home care might soon become more expensive than an assisted living community if you’re paying for it.
The price of assisted living might seem frightening, but if you’re unsure whether you can afford it or not, below are the financial benefits of moving into assisted living.
You Can Obtain a Tax Credit
It’s a little-known truth that elderly adults who are getting long-term care in a home or community because they are unable to live alone due to a chronic condition are eligible for a tax deduction for the cost of their accommodation and food.
Residents of assisted living communities may also be eligible if a doctor finds that they have been unable to do two or more essential daily tasks for at least 90 days. People with cognitive disabilities that require regular monitoring are another category who qualify.
Zero Maintenance Costs
Homeowners are well aware that their savings account also breaks down when the furnace does. Homes are expensive investments that demand a lot of care. When you own a home, the costs of utilities, home insurance, and real estate taxes all mount up.
Living in an assisted living community eliminates the need to save money for unforeseen expenses. When maintenance is requested, a bill won’t come along. Additionally, routine maintenance is covered by the monthly cost of living. You’ll be able to save thousands of dollars by not having to purchase a lawn mower, hedge trimmer, or any other expensive items that took up space in your tool shed.
It might be expensive to eat out frequently. Having someone cook for you more frequently than once or twice a month is completely out of the financial grasp of the ordinary aging adult. In assisted living communities, however, on-site cooks who have received the best training produce delectable and nourishing meals every day.
Endless Entertainment Opportunities
Assisted living communities always ensure that residents get a chance to enjoy senior-friendly daily activities and events each day as a way of enhancing their well-being. The entertainment is unceasing and ranges from card games to singing, and movies to storytelling. Even the most stoic individual can enjoy the continual diversity provided by the day trips and entertainers of all kinds that are scheduled into the calendar. Yoga sessions, dancing lessons, and occasionally even excursions to the pool are all potential scheduled activities in these communities.
You can benefit from the financial advantages of assisted living given all the perks you’ll enjoy from doing so. Assisted living communities provide an active life at an all-inclusive cost for the energetic adult who needs a little more help.