Helping older parents access the best care – as well as a high quality of life – is a priority for their adult children as they determine whether an assisted living community or remaining at home would be most beneficial.
Care, amenities, and lifestyles are important, but there is another factor when considering this decision: the cost.
Assisted living or home care: evaluating the costs
The cost of assisted living or receiving home care can vary widely, making it difficult to estimate. Differences can arise depending on the organization, number of services required, size of residence and even location. To create an accurate budget, it’s advisable to talk to specific home care agencies and senior living communities about their rates.
You’ll want to ensure you’re looking at similar services and amenities when comparing the cost of assisted living and care at home. Communities typically offer a residence and services under one monthly fee. Home care costs should also calculate fees for services such as gym memberships, entertainment, meals, transportation, maintenance and housekeeping – in addition to the costs for assistance.
The cost of at-home care
The cost of remaining at home will be influenced by the level of assistance needed. Families often start by estimating the number of hours they can provide to arrive at the number of hours required to fill in any gaps. Multiplying these numbers by the hourly rate of the home care worker will provide the budget for at-home care.
The cost of remaining at home should also include the following:
- Mortgage or rent
- Property taxes, insurance, utilities, repairs and maintenance for homeowners
- Repairs or renovations to create home accessibility, if applicable
- Food and meal preparation
- Fitness center membership or exercise class fees
- Fees for social events and entertainment
- Activities and hobbies
- Car ownership or alternative transportation costs
- Security and safety features
The cost of assisted living
When calculating the cost of assisted living, you’ll find the following benefits offered typically included in the fixed monthly rate:
- An accessible residence
- Personal care services delivered daily
- Healthy dining and snacks
- Monthly calendar of activities
- Fitness classes
- Opportunities to make friends and socially interact
- Scheduled transportation
- Safety and security features in both the residence and community
You’ll want to ask if there are any services or amenities priced separately.
Assisted living vs. home care: Comparing the value received
Making a decision about the best place to live shouldn’t be based solely on the cost, of course. It’s essential to compare the value received at an assisted living community vs remaining at home.
Beyond the benefits listed above when considering the cost of assisted living and remaining at home, families will want to think about where their loved ones will most likely achieve their highest quality of life.
Consider these essential characteristics for a life well lived and determine which option would best support your loved ones:
Socialization: the risk to physical and mental health from loneliness or isolation can greatly increase without opportunities to socially interact, make friends and engage in group activities.
Maintenance-free living: upkeep and repairs can become overwhelming for older adults. This feature should be included regardless of choice.
Safety and security: concerns about safety can increase as we grow older. Consider any additional features to ease the worries of an injury or illness occurring and being able to access help.
Restored independence and familiar roles: Older adults appreciate relieving responsibilities from their children and friends and enjoy the return of relationship roles before caregiving was required.
Assisted living vs. home care: seek clarity about the care
As mentioned before, when helping your parents make a decision about where best to launch this stage in life, you’ll want to look at the factors that exist outside of the financials.
When considering the cost of assisted living vs at home care, ensure you are clear about the level and type of assistance that might be needed – as well as where your loved ones can best achieve their highest quality of life.
It’s also important to remember that you and your family are not alone on this journey. There is a wealth of information, resources and support for navigating this decision – and to help your parents create the fulfilling and enriched life they deserve.
Retirement living in Wadsworth, Illinois
Galloway Senior Living, locally owned and operated, provides luxury and quality care for families in our community.
Assisted Living at Galloway Senior Living offers beautiful and contemporary private residences that range from alcove studios to two-bedrooms and include high-end stainless-steel appliances, maple hardwood cabinets, cultured marble countertops and thoughtfully curated décor and colors.
Our Memory Care community offers a family kitchen, dining room, walking garden, and lounge.
Our services include:
- 24-hour certified nursing assistants, on-staff licensed nurses, medication management, and on-site physician visits
- COVID-19 safety protocols
- Assistance with daily tasks
- Readily available safe transportation
- A fall-reduction program
- In-unit emergency response systems including an electronic monitoring system for exit doors
- On-site entertainment and activities personalized to reflect the residents’ preferences
- Housekeeping and linen services including personal laundry
Amenities you’ll find at Galloway Senior Living include:
- Country Café and Convenience Store
- Salon and Spa
- Theater with 85” television
- Activity and Craft Center
- Game Room
- Library and Business Center
- Fitness Center
If you or your family is considering retirement living in Wadsworth, Illinois, we hope you will visit our community at Galloway Senior Living. We are a trusted resource and are here to answer any questions.
We also invite you to download our complimentary information, Family Decision Toolkit: How to Choose the Right Senior Living Community.
