debodun
SF VIP
- Location
- way upstate in New York, USA
When you say no amenities...what exactly does that entail?The senior communities around here tout that they are less expensive that living in your own home. I did the math and for me, it would cost many times more than it does now for me to live in a senior community. I barely spend $5000 a year on expenses (I'm a low-maintenance person), mainly taxes, heating oil, food, insurances and minimal home and car maintenance. That's what it would cost me a month to live on a luxury senior apartment. There are less expensive ones for sure, but they are just a room in a ticky-tacky building with enough space for a bed, dresser and no amenities. I am so used to being alone in a 2500 sq ft house, I'd get claustrophobia in a place like that.
Meals, housekeeping, transportation, etc. It would just basically be renting an apartment.When you say no amenities...what exactly does that entail?
Wouldn't it be cheaper to just rent an apt deb?Meals, housekeeping, transportation, etc. It would just basically be renting an apartment.
If you go into a senior living facility there would be apts there too so what's the difference? Also it doesn't have to be a whole building. I live in a duplex.I just don't think I'd be happy in an apartment situation.
The one I am looking at in Washington State covers everything including three meals a day. When I add up what we are spending now, including food, it comes to about $3360 per month and that does not include home maintenance or the costs associated with needing additional help if we age in place.Very interesting and informative link. Thanks, Deb.
I will look at it more, at a different time, but at first glance, could anyone clarify for me,
if the costs listed are solely rent, or if they include utilities or any other usual expenses?
You get enough retirement money to afford a $3000 a mo. apt? That adds up fast 12 mo out of the yr. I would think that would dwindle a person down to nothing pretty fast.The one I am looking at in Washington State covers everything including three meals a day. When I add up what we are spending now, including food, it comes to about $3360 per month and that does not include home maintenance or the costs associated with needing additional help if we age in place.
It is a "crap shoot" either way. I have seen numerous older couples who chose to stay in their homes as their health faded, and those who moved earlier. It seems to me that the ones who stayed until the bitter end encountered a lot more loneliness and misery. But my observations are not numerous enough, and they do not account for family support.
As the man says: "pay your money and take your chances."
Well, my figure of $3360 for our current home/situation included a small remaining mortgage, taxes, power, heat, cable, internet, water/sewer, yard service, pest control, termite control, and food for two. Those tally up pretty fast. Getting all that wrapped into a single monthly fee has its attractions, especially when things like home maintenance or roof replacement get added into the mix.You get enough retirement money to afford a $3000 a mo. apt? That adds up fast 12 mo out of the yr. I would think that would dwindle a person down to nothing pretty fast.
In this area, it costs 3 - 5 thousand a month to live in a cruise ship style independent living facility.
The main difference in price from one location to another appears to be the snob appeal/prestige/location of the facility.
I think that they are a great idea and would definitely consider moving into one at some point.
For now, I will stay in my little apartment and add services as I need them. Even if I choose to pay a cleaning service, laundry service, grocery/meal delivery service, and UBER/Lyft style car services I would still be way ahead financially.
For me, it really depends on how big a struggle it would eventually become to manage all of these things on my own.
That's very sweet Pecos. You are a good husband!Well, my figure of $3360 for our current home/situation included a small remaining mortgage, taxes, power, heat, cable, internet, water/sewer, yard service, pest control, termite control, and food for two. Those tally up pretty fast. Getting all that wrapped into a single monthly fee has its attractions, especially when things like home maintenance or roof replacement get added into the mix.
I am blessed with having a 45 year career as an engineer and my wife had a long career as well. We have always lived well within our means, saved like crazy, and have been able to be quite generous to food banks and charities. We are getting old and the days of being feeble are fast approaching. My eyesight is getting worse, and my ability to drive will be gone in a few short years.
One of the big drivers for me is the knowledge that my wife really does need to be around other people and I need to ensure that she is if I have to depart the planet before she does. Loneliness would be extremely difficult for her. That is probably my major goal in life right now, especially after waking up to my own vulnerability with prostrate cancer.
Thank You,That's very sweet Pecos. You are a good husband!