As we age and gain wisdom and insight on what the process looks like for us, one satisfying aspect is learning what retirement living costs. With some financial guidance and consideration of personal preferences, anyone can find a comfortable and affordable means of living that accommodates their needs at Masonic Villages.
Retirement living options come with a price tag that might seem unaffordable at first, but once an individual breaks down the costs with what it includes, his or her opinions may change. Looking at a combination of assets (house) with monthly income is an effective strategy to use to pay for this vibrant and secure lifestyle.
The Cost of Home Upkeep
Nearly 90 percent of seniors plan to continue living in their current homes for the next five to 10 years, according to the American Association of Retired Persons (AARP). While this desire is understandable, as we age and our mobility changes, we may need to make adjustments to our houses to ensure long-term safety.
Widened walkways, walk-in tubs and showers, ramps or handrails, home monitoring systems and anti-trip flooring are only a few modifications that address safety in older adults’ houses.
Many of these safety precautions are a one-time fix and, if desired, home owners can complete themselves, but more than 70 percent of individuals older than 60 still plan to not make significant renovations to their homes, according to AARP.
The labor intensiveness and the hefty chunk of cash the changes add up to partially contribute to this hesitation. Renovations alone can cost more than $10,000 without the help of federal or state-funded financial assistance.
All-inclusive Maintenance-free Living
In comparison, Masonic Villages and other retirement communities offer all-inclusive benefits and services that cater to the residents’ well-being.
Residents living on one of Masonic Villages’ campuses pay an entrance fee followed by consecutive monthly service fees. If living in a rental apartment, they pay only a monthly service fee.
Retirement living entrance fees secure property for residents, so they may live there as long as they’are able. Fees range from as low as $90,000 to approximately $750,000. This range depends on the home’s layout and size, and whether they invest with an eight-year declining balance or a 90% refundable fee.
Retirement living monthly service fees range from $830-$6,700, based on personal needs. Across the board, this amount funds a resident’s utilities, lawn care, 24-hour security, transportation, activities and meal plan, among other benefits.
The nearly all-inclusive retirement living costs at Masonic Villages replace the burden of budgeting for seniors with convenience and affordability.
Additionally, the cost of the monthly service fee is much less than the monthly cost a senior would pay if they continued to live in their current home. This is according to Jerry Gallagher, vice president of sales and marketing for Masonic Villages. Prospective residents can discover this for themselves by completing an apples to apples cost of living worksheet. It contrasts costs of remaining in their current house with moving to Masonic Villages. Sales and marketing staff at Masonic Village can provide a copy of this worksheet.
Enjoy Retirement Your Way
Yes, senior living is an investment. It is an investment in a plan that addresses new priorities in vitality, guaranteed access to health care (whenever needed) and asset protection. Masonic Villages make these ideas a priority in their dedicated services to alleviate many stressors for seniors. Their main focus can, instead, be enjoying their retirement the way they wish.
Masonic Villages’ sales and marketing staff can help individuals make the best decisions for their lifestyle and budget. Click below to contact a specific location.