As you reach retirement age and consider moving out of your home and into a retirement or assisted living facility, it's important to be aware of all the hidden costs associated with the move. While the move can seem like a relief from the responsibility of home ownership, you may be surprised to learn that there are often additional costs involved in making the transition. Carefully consider those costs as you're deciding how to budget for moving into a senior living facility.
1. Moving Costs
The first cost to be aware of when considering moving into a retirement or assisted living facility is the moving costs. Depending on the size of your home and the number of possessions you have, you may need help from a professional moving company to help with packing and transporting your belongings to your new home. Professional movers may charge an hourly rate for their services. Additionally, you may need to factor in the cost of rental trucks or storage facilities for furniture and possessions that don't fit in your new living space.
2. Security Deposits
Most facilities will require a security deposit. The amount of the security deposit will vary by facility but typically ranges from one to two months' rent. The security deposit is refundable when you move out, provided that you meet all the terms of your lease agreement.
3. Furniture And Decor
When you move into your new retirement or assisted living facility, you may need to invest in new furniture and decor to make your space feel like home. This can add up quickly, and you should factor in the cost of furniture and decor when you are budgeting for the move.
4. Facility Fees
Many retirement and assisted living facilities charge monthly or annual facility fees. These fees typically cover the cost of amenities like a swimming pool, fitness center, or common spaces. It's important to understand the facility fees and find out what is included in them before you sign a lease agreement.
5. Activity Fees
Most retirement and assisted living facilities offer activities and events for residents. These activities may require additional fees. It's important to find out what activities are included in the monthly rent and which require additional fees so you can budget accordingly.
6. Transportation Costs
If you move into a retirement or assisted living facility, you may no longer have access to a car. This means you may need to factor in the cost of transportation for shopping, doctor's appointments, and other errands. Most facilities offer shuttle services, but these may require additional fees.
An In-Home Senior Care Provider May Help You Budget Longer
As you can see, there are many hidden costs associated with moving into a retirement or assisted living facility. It's important to budget for all of these costs in advance so you are not caught off guard. If you're looking for an affordable alternative to moving into a facility, consider in-home senior care from Senior Helpers Tucson. Our experienced caregivers can help with activities of daily living and provide companionship right in the comfort of your own home. Contact us today to learn more and to get a free in-home care assessment in Tucson Southeast, Green Valley, Oro Valley, Rita Ranch, Vail, Sahuarita, and Marana.