Many of us expect to spend our later years in the same family home where we spent much of our adult lives, the same home where we raised our children and pursued our careers. However, as our circumstances change, this choice may not be as practical as we first thought. Keeping up with home maintenance and navigating a floor plan that wasn’t designed for accessibility can become more burden than joy. Lack of social interaction as friends and family move away or pass on can be another factor. More pressingly, the financial costs associated with aging at home can be much higher than we planned for.
This is why many adults consider downsizing to a smaller home or moving to a senior living community. While leaving a place you’ve called home for decades may at first seem difficult, there are many benefits that come with community life. Here are some key factors to consider about the true cost of aging at home, and some factors to consider as you explore which living option is best for your needs.
Face to Consider About Aging at Home
When it comes to choosing which living situation is ideal for your lifestyle, there’s no one-size-fits-all option. Each individual’s circumstances are different, with some factors being significantly more important than others. However, these are some of the most common considerations that come into play when deciding where to spend your retirement years.
Social Opportunities
For older adults, increased isolation can be a serious issue. In addition to feelings of loneliness, limited social interaction has been shown to have detrimental health effects. Studies from the Centers for Disease Control and Prevention found social isolation in those over 50 significantly increased the risk of premature death from all causes, putting it in a category with smoking, obesity and physical inactivity. If family, friends or close neighbors no longer live close by, the opportunities for connection in a community setting may be favorable over living alone.
Access to Care
Though skilled medical care may not be a present concern, it’s important to look to the future when making decisions about your living situation. In more rural communities, easy access to specialists and specific medications can present a challenge. Additionally, you should consider who is available to help should an emergency arise. In most communities geared toward older adults, the option for care is always available and can be customized over time as needs change.
Ease of Mobility
Anyone who’s owned a home will tell you there’s no shortage of maintenance to keep up with. As you consider your living situation, it’s important to take a realistic look at the work involved. With limited mobility, chores like mowing the lawn or shoveling snow may no longer be feasible. The same goes for getting around town to pick up groceries or drop off a prescription. A community lifestyle simplifies these challenges, providing everything from professional landscaping to laundry service.
Financial Impact
The financial burden of in-home care is a cost that many older adults do not anticipate when planning for retirement. According to the Wall Street Journal, the median cost of an in-home health aid soared from $20 an hour in 2015 to $33 an hour in 2023. Those in need of 24/7 care may spend as much as $290,000 a year. This is more than four times the annual median cost of a private senior living apartment.
Weighing costs is critical to ensuring you’re getting the most out of your hard-earned savings. At a senior living community that offers Life Care, costs for care are more predictable, and often provided at below market rates (depending on your contract type.)
Why Community Living?
Many find the decision to move to a senior retirement community challenging due to the unfairly associated stigmas. It might feel like you’re giving up or sacrificing the independence you’ve enjoyed for decades. In reality, those ideas couldn’t be further from the truth. Here are some of the many advantages community life offers:
- Social connections. Living in a community of individuals who share your interests provides more opportunity to connect around the things that matter most. Many residents find they make their most meaningful friendships in this environment.
- Independent living. Contrary to popular belief, community life can open up more opportunities for independence. In fact, the focus at most independent living communities is on helping residents pursue their passions and live their best life.
- Maintenance-free lifestyle. After years of clearing clogged drains or weeding the garden, it’s a relief to let those responsibilities go. Community life provides professionals to handle the work that takes time away from the activities you enjoy the most.
- Emphasis on wellness. Wellness is at the core of community living, supporting a healthy lifestyle with fitness classes, nutritious meals and stimulating activities. This takes the hassle out of finding time for the gym or shopping for healthy groceries.
- Customized care. Just because you choose community life doesn’t mean you can’t support yourself. With skilled care available around the clock, it can be customized to your specific needs. You get to pick and choose areas where you’d like additional support.
The Benefits of Community Living vs. Staying at Home
Making the choice between living in a community vs. staying at home is highly personal. Sometimes it might even feel overwhelming finding a community that’s the right fit for the lifestyle you want. If you’re considering the possibility of retirement community living, try these tips to help your search:
- Take a visit and experience the community for yourself.
- Get a feel for the surrounding neighborhoods in the area.
- Talk to other residents and learn about what they like most about their community.
- Understand the costs involved and the commitment you’re making.
- Review available activities and make sure they match your interests.
- Ask about the levels of care available for specific health needs.
While there are many factors to consider, you should always trust your instincts. If you’re going to be calling the community home through retirement, make sure it feels that way.
Explore Community Living
At Beacon Hill we’re dedicated to helping our residents craft the healthy, active and engaged retirement experience they want. We strive to capture the familiar feelings of home with a warm, welcoming community. Beyond the tight-knit, neighborhood feel, we have many benefits and amenities to offer.
Thanks to our convenient Lombard, IL, location, residents have close proximity to both Chicago and Naperville. This makes it easy to enjoy all the cultural attractions the cities have to offer, as well as visit with friends and family in the area.
The community life at Beacon Hill encourages residents to continue exploring their passions. We offer abundant wellness opportunities that revolve around physical, social and spiritual well-being. Whether that’s using the woodworking shop and crafts room or exploring the beautifully landscaped grounds before a meal at our dining venues, the only limit is your imagination.
In addition to the day-to-day amenities, we also have a highly skilled health services team available around the clock. We want to help you plan for the future, and will customize care to meet your specific needs. Both long-term skilled nursing care and short-term rehabilitation services are available on-site.
If you’re weighing the decision between living in a community vs. staying at home, we’re always available as a resource. If you have any questions throughout the process or would like to learn more about the amazing community at Beacon Hill, please don’t hesitate to contact us.
