Many people focus on the immediate costs when considering a move to senior living. However, putting off this important decision can actually lead to greater expenses and missed opportunities in the long run. This blog from Frontida Assisted Living explores the potential cost of delaying the transition.
Financial impact of delaying a move to senior living
According to the Genworth Cost of Care Survey, the median monthly cost of assisted living in the U.S. was $5,350 in 2023, and this number is expected to increase each year. Your cost of senior living care can vary based on the care setting, geographic location, and the level of care required, so it’s essential to research the monthly fees in your area.
By 2025, the projected national average cost for senior living is approximately $5,676 per month. Delaying your move could mean facing higher entrance fees and monthly expenses in the future. While you’ll likely encounter small annual increases to your monthly payment as a senior living resident, you may also be able to take advantage of move-in specials.
These offers could lock you into a specific rate for a predetermined period, provide complimentary moving costs, or a few months of free rent. Be sure to check with the sales team at your community of interest to find out about any available limited-time offers.
There are also often hidden financial benefits you’re missing when you put off a move to senior living. For example, many older adults discover that community living can be more cost-effective than maintaining a home when considering all expenses. A monthly fee at a senior living community will typically include your rent, utilities, meals, maintenance and repairs, security, social and wellness programs, and more.
The opportunity cost of putting off a move to senior living
In other words, what are you giving up or essentially missing out on when you put off your decision to move to senior living? You may be surprised at the benefits senior living can provide.
Consider the following when weighing your options:
1. Care access
When you move to senior living, you’ll have access to additional care services should your health needs change as you age. Waiting could mean paying more for in-home care services or facing emergency transitions later.
2. Planning advantages
Moving earlier allows for better financial planning and understanding of the costs you can expect for your future care. When you’re not facing an urgent care need like many seniors face when they wait until a move to senior living is necessary, you can budget appropriately and explore various payment options.
3. Lifestyle considerations Delaying a move to senior living means missing out on:
- Social connections and community activities
- Wellness programs and amenities
- Stress-free maintenance-free living
- Peace of mind knowing that your future care needs will be met
Related: Learn the top 5 reasons not to wait to move to a senior living community >>
Essential planning steps when considering senior living
To help make an informed and confident decision, follow these steps when you’re thinking about moving to a senior living community:
- Compare current home maintenance costs against community living expenses
- Research different payment options and financial assistance programs
- Consider the value of included services and amenities
- Factor in potential future care needs and costs
Consider senior living while you can enjoy all the benefits to the fullest
While the financial commitment of senior living may seem significant upfront, the cost of waiting often exceeds the initial investment. By making the move sooner rather than later, you’re not just potentially saving money in the long run – you’re investing in your quality of life and future well-being.
Consider a senior living option like Frontida Assisted Living. We offer the highest quality in personalized senior care, where individuality is celebrated.
Feel at Home at Frontida Assisted Living
Frontida Assisted Living values transparency and trust in each of our Wisconsin communities, and our team is ready to answer your questions, offer support, and provide resources to help you make a confident and informed decision for your future care.
Our compassionate team strives to create a sense of community and purpose for each resident through personalized programming, life-enriching activities, and special events.
Learn how we care for our residents:
- Private suites, bedrooms, and companion rooms
- Fully accessible bathrooms
- Spacious living rooms and engaging indoor recreation areas
- Cozy fireplaces and open-plan seating in living spaces
- Beautifully maintained outdoor areas
- Delicious, home-cooked meals and snacks 24-hour personal care and supervision
- Comfortable spa and salon (in specific locations)
- Dedicated memory care communities
- Specialized behavioral health care communities
- Housekeeping and laundry services
- Individualized care plans
- Life Enrichment Coordinators to plan and schedule meaningful activities for all residents
- Nursing staff to oversee the health and wellness of each resident
We value honesty, trust, and open communication to build relationships with our residents and their loved ones. Together, we form a partnership to ensure your loved one lives a fulfilling life, feeling a sense of belonging and purpose.
When you’re ready, contact any of our 11 Frontida assisted living and memory care communities to gather more information, or to set up a personalized tour. We’re here for you whenever you need us.
We understand that transitioning into assisted care can be an emotional, stressful, and often confusing journey. That’s why we’re dedicated to helping you and your family navigate the complex world of care. Download our free guide: “Know the telltale signs: Is it time for senior living?,” to learn more.