What Are The Hidden Costs Of Moving Into A Retirement Or Assisted Living Facility?
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What Are The Hidden Costs Of Moving Into A Retirement Or Assisted Living Facility?

Are you or a loved one thinking of moving into a retirement or assisted living facility? It's a difficult decision that comes with a lot of considerations. Beyond just considering the amenities offered by facilities in these cities, it's important to think about the hidden costs of making the move. Take a look at potential hidden costs that could impact your finances after a move to a retirement or assisted living facility and how you can prepare ahead of time for those potential needs.

High Initial Entry Fees

Moving into a retirement or assisted living facility is a significant financial commitment. Before you or your loved one can move into a facility, there will be an initial entry fee charged. In some cases, those fees can rise much higher than you initially thought: fees can be a thousand dollars or more when you first move into an assisted living facility. 

Monthly Fees

In addition to the initial entry fee, there are also monthly fees that come with living in a retirement or assisted living facility. These fees typically cover the cost of meals, utilities, housekeeping, activities, and other services provided by the facility. It's important to understand what is included in the monthly fee and what is considered extra. 

Additional Services Provided By The Center

It's also critical to understand what additional services the facility offers and at what cost. Some facilities offer special amenities such as transportation services, medical assistance, and recreational activities. These services often cost extra and should be taken into consideration when budgeting for a move. Budgeting for those services ahead of time can also help prepare you for the day when they may become necessary. 

Moving Expenses 

Finally, it's important to factor in the cost of moving. As you prepare to move into a retirement community or assisted living facility, you may need to hire movers to come to do the heavy lifting. You may also need a storage facility to help store items that will not fit in a new apartment. Finally, you may need to purchase new furniture or other accessories for the new space. These expenses can quickly add up, so be sure to include them in your budget when planning for a move.

Stay Home Longer With Senior Helpers

Moving into a retirement or assisted living facility is a big decision that comes with a lot of financial considerations. Knowing the full cost of a move is key to making an informed decision. Furthermore, seniors may want to make sure that they have the tools to stay in their own homes for as long as possible to help avoid those costly expenses or the need to move. If you live in the Lincoln, Newcastle, Rio Oso, Sheridan, Wheatland, Marysville, Olivehurst, or Yuba City areas and need more help at home, be sure to contact Senior Helpers Lincoln, Yuba City. Our professional and caring team can provide in-home care services to seniors that may help them stay at home longer.