How to save money on senior housing
Senior housing is one of the best retirement options for you as you age. Not only will you be able to live on your own to a level that suits you, you’ll also have help available for you whenever needed. Though there are several programs to ensure that you get cheap and affordable senior housing, moving into one of these senior housing communities can burn a hole in your pocket. However, there are ways in which you can save money even though you are living in apartments for seniors.
Be it for buying a simple thing as a refrigerator or getting a house, research is important before you begin any work. Moving into a senior housing can be emotional for both you and your loved ones. It is important to plan well and do your research. Ask around. Your friends or relatives might already be living in senior housing and may help in giving you an idea about what’s best for you. Plan well in advance if you have a particular senior housing community in mind. It’s better to join the waiting list rather than wait until the last minute and pay more. Or even worse, settle for a place you didn’t even want to go to.
Check For Flexibility
The prices at senior housing communities are not fixed. Talk to the authorities. Try to negotiate. Also, make sure to only request facilities that you actually need. If your family member or caregiver is in a position to help you with some activities, discuss it with the officials.
Pick The Right Place
This is where your research comes in handy. If you pick the right place from the first time it can save you a lot of money. Don’t pick a place in a rush. You might regret it later as you may not be satisfied. Vacating one place and moving into another is going to be a huge inconvenience and cost you a lot as well. There are a variety of senior housing communities. Choose a place that best fits your needs.
The cost of senior housing depends on the location. The senior housing communities in metropolitan cities will be costlier than those in suburban areas. Not only will the communities in suburbs be cheaper, they will be spacious as well.
Consider sharing a room. It might be a more economical option. Make a thorough comparison of the rates and facilities of shared rooms and independent rooms.
If you have served in the US Army or are the surviving spouse of someone who served in the US Army, then you are entitled to some benefits. The Aid and Attendance program provides you with a significant amount of pension that could cover most of your senior housing costs.
Long-Term Care Insurance
It is necessary to be aware that most of your health care can be covered by Medicare or Medicaid. But if the remaining amount is still a little too much for you then get a long-term insurance. Long term insurance allows you to reduce the burden your care can cause on your loved ones and lets you be more independent.