Independent Senior Living Costs: Factors To Consider
Moving to a senior independent living community is a life-changing experience. What is independent senior living? Independent living communities include any style of housing that caters to the needs of older adults (often 55+) to live independently in a supportive environment.
Design characteristics of independent senior communities usually include compact (downsized from the larger family home), single-story, ADA accessibility features with easy navigation. Services typically include lawn care and landscaping, housekeeping, and dining services.
Often, medical services are available onsite, as well as community activity centers and facilities. Additional services and assistance, such as transportation and assistance with ADLs (activities of daily living), may be available for additional fees.
At The Landing at Carmichael, a vibrant independent living facility in Carmichael, CA, we provide seniors a safe and comfortable place to enjoy their golden years. Carmichael is a suburb in Sacramento, CA, with a population of 75,642. More than half (51%) of the population is over 40. Carmichael has more senior care facilities than anywhere else in Northern California, which makes it a great place for an aging community. We’ve put together this overview to help you and your loved ones understand the factors associated with calculating costs at independent senior living communities.
Independent Living Average Costs
Independent living communities have different monthly fees based on their particular services and amenities. Monthly fees nationwide can range from $1,500 to $10,000, with the national average at $3,000. Other factors that affect cost include community size, location, type of housing unit, and services needed.
Type of Community
Seniors wanting to live in luxury communities can expect to pay more for resort-quality amenities such as wellness clinics, chauffeur-driven cars, and a medical concierge suite. Continuing Care Retirement Communities (CCRCs) cost more since they offer options to “age in place,” adding extra services as necessary. CCRC complexes often also include assisted living, memory care, and perhaps skilled nursing facilities, providing a commitment to long-term care at various stages for the remainder of the resident’s lifetime.
Services and Amenities
The monthly fee is usually based on the square footage of the apartment or housing unit and also includes amenities, services, and special activities. The community covers property upkeep expenses such as maintenance, housekeeping, lawn care, and utilities.
A community’s cost often reflects the quality of life and will vary depending on the amenities it offers. Communities with fitness centers, movie theaters, and pools will charge higher monthly fees. A resident may also pay optional fees, such as a second-person rate for a spouse or a garage fee if they own a car.
One of the perks of living in an independent living community is flexible dining plans. Many communities provide three nutritious cooked meals and snacks served in a restaurant-style setting. However, residents who choose to cook for themselves can select a dining plan with fewer meals per week.
Cost of Living in the Area
Geographical factors play a role in determining senior living costs, just as they do in the real estate market. Senior living options in major metropolitan areas tend to be more expensive than in small-town or rural areas.
Some independent senior living facilities charge an entrance fee when you move into the community or make a deposit to secure your new residence. Some facilities that have month-by-month rates charge an upfront fee of several thousand dollars, while CCRCs entrance fees can range from $100,000 to $1,000,000 as an investment into a lifetime of care.
Before moving into an independent senior living community, you should factor in taxes. If you are moving to a community that provides healthcare, you can apply for tax benefits. Although these communities charge initial and monthly fees, both may be tax deductible if they help pay for current and future healthcare expenses.
Contact Our Local Advisors for Independent Living
Our independent living community in Carmichael is home to residents who desire a relaxed lifestyle with the comfort of knowing that assistance is available if needed. The Landing at Carmichael’s senior living advisors can help you choose an independent senior living community that fits your needs. Visit us at The Landing at Carmichael in Carmichael, CA, to learn the difference between independent living and assisted living. Call us at (916) 481-7105.