Link: The Cost of Aging in Place vs. Moving to a Community [INFOGRAPHIC]  (Source: WhereYouLiveMatters.org) 

Most older adults say they would prefer to remain in their own homes as they age, but many families are surprised when they calculate what aging in place can actually cost.

Beyond a mortgage or rent, staying at home can include property taxes, insurance, utilities, maintenance, housekeeping, meals, transportation, home modifications, and eventually the potentially substantial cost of in-home care.

The article shows that even a modest amount of paid home care, combined with normal household expenses, can make aging in place comparable to or more expensive than living in a senior community.

It compares these costs with independent living, assisted living, and memory care, while also considering services and amenities that are typically included in senior community living.

Just as importantly, the comparison goes beyond dollars by considering the value of meals, social opportunities, wellness programs, supportive services, and a maintenance-free lifestyle.

For older adults and families trying to decide whether staying at home or moving to a senior community makes financial sense, this article provides valuable information that can help them look beyond assumptions and make a more informed comparison.

I highly recommend following the link to read the full article, especially because its clear, illuminating graphics and infographics make the cost comparisons remarkably easy to understand and may reveal expenses and tradeoffs you have never considered.

Where to live? At home or in a community?

The cost of aging in place at home may be higher than you think. To help you find the best option, here are some factors to consider.

Link: The Cost of Aging in Place vs. Moving to a Community [INFOGRAPHIC]  (Source: WhereYouLiveMatters.org)