Cost vs. value: how do you know when you are making the right choice? When it comes to the cost of assisted living as compared to receiving care at home, there are many factors to consider, but the ultimate goal remains unchanged—making sure your loved one is safe, cared for, and able to enjoy the highest possible quality of life.
At The Herrick House, we are here to help you as you consider a life transition for yourself, or for a loved one.
The cost of care at home
The familiar saying tells us there’s no place like home, which can be true in many ways. But being at home also can lose its value when it begins to interfere with staying safe, healthy, and supported.
For example, if you or an older loved one are living at home alone, what happens in an emergency situation, such as a power outage or severe storm? What about feeling safe in a neighborhood that has changed dramatically? How easy is it to access fitness or wellness opportunities, social activities, groceries, medications and other necessary items?
In addition to these “costs,” there’s also the monetary side. Home upkeep alone can empty your pocketbook before you even realize it:
- Furnace and central air conditioning system replacement is approximately $10,000
- Lawn care for 10 years is approximately $25,000
- Replacement windows for an average home is $11,000
- Average roof replacement using composite shingles is approximately $20,000
Factor in the costs of accommodating a home due to mobility issues
Installing safety features such as wheelchair ramps and bathroom handrails could cost between $9,000 and $12,000.
In fact, according to an article on aarp.org entitled “How to Make a Home Safe for Your Aging Parent” by Sharon Jason of AARP, the costs to truly modify a 2,000-square-foot house can range from $100,000 to $150,000—installing additional lighting, building ramps to get inside from outdoors, widening doorways, remodeling floors without bumps and threshold changes, and redoing at least one bathroom and the kitchen.
The cost of receiving care at home
Homemaker services can run $4,957 a month. A home health aide could cost you up to $5,148 monthly.
Every situation is unique of course. But what is most important is to be sure you are taking a big picture look at what the cost of staying at home would be, versus the cost of assisted living.
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The cost of assisted living, as well as its value
According to the Genworth 2021 Cost of Care Survey, the average monthly cost of assisted living in a private, one-bedroom residence is $4,500. This includes:
- Personalized assistance with activities of daily living. It’s hard to put a price on the peace of mind that comes from knowing assistance is available with dressing, grooming, bathing, medication management, and more. At The Herrick House, this includes 24-hour onsite licensed nursing staff and resident care aides.
- Freedom to enjoy life to the fullest. No more spending time worrying over home upkeep. The cost of assisted living covers an array of social activities, wellness programs, special outings, commons areas for visiting and socializing, nutritious and delicious dining, outdoor spaces for added enjoyment, and a range of services from housekeeping to scheduled transportation and more.
- Numerous opportunities for healthy socialization. When considering the cost of assisted living, remember that being alone and isolated can take a serious toll on an older adult’s physical and mental health. In assisted living, making friends, sharing experiences, and staying connected to the world is easy to do, helping each resident benefit from the healing power of human engagement.
- Safe & secure environment. An assisted living community such as The Herrick House is designed specifically for the safety and wellbeing of older adults. Ramps, wider hallways, bathrooms with grab bars and night lighting, walk-in showers, and more: elements that help protect residents and offer precious peace of mind.
In addition, having continuous monitoring of health creates an atmosphere of preventive health. Such details can have a huge impact on a person’s wellbeing as they age.
These are just a few of the ways that assisted living delivers value that is hard to match at home. The Herrick House allows you or your loved one to continue the lifestyle you want in a warm and supportive atmosphere without the worries of maintaining a home.
If the time has come for you to seek a greater degree of safety, personal care assistance, and social interaction for yourself or a loved one, we invite you to explore how we can help.