How Much Does it Cost to Live in a Senior Living Community?

When deciding what senior living community is the right fit for you, there are many questions that need to be asked. What do you really want? What will you really need? What can you actually afford? And what combination of available options will work best for your circumstances?

A great option that includes numerous benefits and is financially responsible is the move to a Life Care community. Keep reading to learn more about the incredible value offered by a Life Care community like Ventana by Buckner.

The Value of a Life Plan Community

When you do the math, choosing the right Life Care community can offer a remarkable value, not only reducing your current expenses, but offering significant savings for your lifestyle, your healthcare and even your taxes for years to come.

We’ve all been there. One appliance is repaired and another one fails. Even when it’s fully paid for, the more time you spend in a home, the more money you’ll spend on it. With bigger repairs, the costs can be high and unpredictable. Even simple things like weekly lawn care services can be extremely pricey. Add property taxes, homeowner’s insurance and utilities on top of the ongoing costs of upkeep and repair, and expenses can add up.

With a move to a Life Care community, someone else does all the chores. No longer do you have to do it yourself or find a trustworthy contractor. You can now spend your time doing the things you enjoy. Most communities provide interior and exterior maintenance as part of the monthly fee.

In measurable terms, giving up owning and maintaining a home offers significant savings. Moving to a Life Care community can reduce your monthly living expenses immediately, as you leave behind maintenance, real estate taxes, homeowner’s insurance, utility bills and dozens of other expenses. This move can potentially save you thousands each year, while providing peace of mind for you and your family.

Cost Comparison Between Life Care and Other Living Options

Because a portion of Life Care community entrance deposits are often refundable, and because monthly fees cover services, amenities and programming, as well as mitigating the cost of future care, it can be difficult, though not impossible, to make a direct cost comparison between Life Care and other living options. Members at Ventana may be even be eligible for a tax deduction associated with payment of the entrance fee and ongoing monthly fees. Please consult your tax advisor for additional information.

To calculate the difference at Ventana, first note the entrance deposit amount associated with the apartment of your choice. Then subtract the percentage of the entrance deposit that will be refunded to you or your estate when your contract concludes (a 90% refundable plan is offered at Ventana).

Then, request an accounting of the monthly fee associated with that apartment and all that it covers: rent, taxes, utilities, homeowner’s insurance, housekeeping, grounds keeping, all maintenance and appliance repair, some entertainment and recreational expenses and meals. Finally, you can obtain the average cost of assisted living, memory care and skilled nursing in the area by researching communities that offer those services on a monthly basis (or we can tell you).

Discover the Value of Ventana by Buckner

For all its fabulous features and amenities, one compelling reason to move to Ventana is not just the luxury of the lifestyle you’ll enjoy, or the excellence of the health and wellness services you’ll come to count on. It’s the incredible value!

Learn more about the value of Ventana – contact our team today.