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Is Aging in Place Economically Beneficial?

Seniors have many options for choosing how to live out their lives. At first glance, living in a senior community or nursing home may seem appealing to those who would love a break from paying bills. However, aging in place and opting for hourly or live-in care in Prescott may actually be more economically beneficial once these options are compared side by side.

Monthly Rent Versus Home Ownership

After years of working and paying a mortgage, many seniors are finally at a point in their lives where they can live without worrying about a major monthly living expense. However, moving to a senior residential facility can be expensive. If your loved one lives on a fixed budget, aging in place can help him or her retain financial security throughout the retirement years.

Nursing Care Versus Daily Living Assistance

Many senior residences offer amenities like around-the-clock nursing care to entice people to move to the facility. However, healthy seniors must ask themselves if it is worth paying for services they may not need for many years. Instead, your loved one can choose to age in place and utilize Prescott senior home care services that can be customized to provide only what he or she requests. Paying for a single service such as meal assistance is far less expensive in the long run than full-time nursing care.

Furnishing an Apartment Versus Staying at Home

A common surprise for seniors who move to an assisted living environment is much of their furniture does not fit in their new apartment. Shopping for a smaller bed or table can drastically cut into your loved one’s moving budget. Keeping familiar furnishings is another financial advantage of staying at home.

All-in-One Packages Versus Control Over Utilities

Senior communities handle utilities in different ways, but one common method is to include a one-size-fits-all fee in the monthly rent. For seniors who are rarely at home or don’t use their utilities often, this set fee can be unfair. However, choosing to age in place puts your loved one in total control over utilities and allows him or her to potentially save more money over time.

Aging in place has many benefits beyond just the financial. Many seniors who remain at home and receive professional assistance live happy and healthy lives. At Home Care Assistance, our part-time and 24-hour caregivers can help with a wide variety of important tasks, including cooking, bathing, and exercise. We also offer comprehensive Parkinson’s, stroke, and dementia care Prescott families trust. For more information on our elderly care services, please call one of our qualified Care Managers at 928-771-0105.