Assisted living is a popular option for older adults who require some level of assistance with daily activities but still want to maintain their independence. However, the cost of assisted living in Albuquerque, NM, can be a significant financial burden for many families.
Many families may be unsure if the cost of assisted living is adjustable, despite the fact that it might vary depending on a variety of variables. In this post, we will explore this topic and discuss whether the cost of assisted living in Albuquerque, NM, can be negotiated.
Understand the Factors that Impact the Cost of Assisted Living
Before negotiating the cost of assisted living, it’s important to understand the factors that can impact the cost. Some of the factors that can affect the cost of assisted living include:
- Location: The cost of assisted living can vary depending on the location of the community. Communities located in more affluent areas or with easy access to amenities may have higher costs.
- Level of care: The level of care provided can also impact the cost of assisted living. Communities that provide more intensive care, such as memory care, may have higher costs than communities that provide more basic services.
- Size of the unit: The size of the unit can also impact the cost of assisted living. Larger units may be more expensive than smaller ones.
- Amenities: The amenities provided by the community can also impact the cost. Communities with more amenities, such as fitness centers or on-site restaurants, may have higher costs.
Research the Average Cost of Assisted Living in Albuquerque, NM
Before negotiating the cost of assisted living, it’s important to research the average cost in Albuquerque, NM. This can provide a baseline for understanding the cost of assisted living in the area and help with negotiations. According to the Genworth Cost of Care Survey, the average cost of assisted living in Albuquerque, NM, in 2021 is $3,800 per month.
Ask about Available Discounts or Promotions
Many assisted living communities offer discounts or promotions to new residents. These discounts can vary and may include a reduction in the monthly rent or a waiver of the community fee. It’s important to ask about available discounts or promotions when considering a community and to negotiate if they are not offered.
Consider the Length of the Lease
The length of the lease can also impact the cost of assisted living. Some communities may offer a discount for signing a longer lease, such as a year or more. It’s important to consider the length of the lease and negotiate if a longer lease is not offered.
Be Willing to Negotiate
Negotiating the cost of assisted living can be a sensitive topic, but it’s important to remember that many communities are willing to work with families to find a solution that works for everyone. It’s important to be upfront about your financial situation and to ask for what you need. Some families may be able to negotiate a lower monthly rate, while others may be able to negotiate a reduction in the community fee or other costs.
Consider Alternative Options
If the cost of assisted living in Albuquerque, NM, is still too high, it’s important to consider alternative options. This may include looking at communities in nearby areas or exploring other types of old adult care, such as in-home care or adult day care. It’s important to remember that there are many options available and to find a solution that works for you and your family.
