Affordability

The price of community living may seem high, especially to seniors who have lived in their homes for many years and have the mortgage paid in full. However, there are still costs to owning and maintaining a home. This worksheet may help with comparing the costs of maintaining a home to that of living in our senior community.

THE TRUE COST OF HOME OWNERSHIP
Is It Really Less Expensive To Live In Your Own Home?

Experts point out that home ownership may no longer be as beneficial to people over 65. This is especially true where there is the option of a retirement community within one’s own locality. The retirement community offers everything a house does, plus security, companionship, health services, wellness services, and recreational activities.

Even if you do not figure in these values, ownership of a house may not compare well from a strictly financial standpoint. This is especially true with the ever-increasing burden of taxes, repairs, and utility rates. There is also upkeep and replacement of big-tag items, such as lawn equipment, appliances, and so on.

If you are surprised to find that the total of these costs is more than you thought, don’t be. A recent study of senior citizens found that 90% of the senior population estimated the monthly cost of living at home at less than 1/2 the true cost.

The most common error made by study participants was the failure to accurately assess true repair and overall maintenance costs.

Of course, at LAKE ST. CHARLES, there are the additional benefits of congenial neighbors, activities, and social events every day to assist you in maintaining your independent lifestyle. It is very difficult to put a price tag on the social benefits of living at LAKE ST. CHARLES SENIOR LIVING COMMUNITY.