Can I Afford Luxury Senior Living?
When considering the financial details of a luxury senior living community, keeping an open mind, evaluating your current and future needs, and thinking in terms of long-term value will help you determine what’s possible for you or someone you care about. You may be surprised — many of these options are more affordable than you may think.
Upscale senior living is simply an extension of your well-lived life. However, you need to ask a few questions to determine whether this lifestyle is a good financial fit for you.
What are you paying for now?
Your current cost of living may be higher than you realize. As a homeowner, you’re subjected to many expenses such as utilities, insurance and upkeep. Not to mention expenses associated with your lifestyle — groceries, nights at the local theater, dinners out, monthly gym, fitness or country club memberships, and transporting yourself to and from these exciting endeavors. All these payments, fees and miscellaneous spending inevitably add up.
An all-inclusive community offers an ideal alternative — the benefit of maintenance-free living with one flat fee gives you access to everything you may need. With a selection of upscale amenities, your evenings will consist of multiple dining options, top-of-the-line entertainment, and quality time with friends who also appreciate the finer things in life. All this, under one roof, without the worry or cost of maintenance.
What do future costs look like?
Between home maintenance and the continually rising cost of health care, it’s hard to know what the future holds. Will you need to replace appliances or get a new roof? Will your home need modifications to make it more accessible and easy to navigate as you age? Like most Americans, chances are you’ll need some form of assistance or care as your needs and abilities begin to change.
An upscale retirement community provides a safe and secure environment for you to age successfully, knowing you’re receiving the best in care, therapies and programming available. You’ll receive access to wellness programs and initiatives as well as a state-of-the-art fitness center to foster an active and engaged lifestyle. And you’ll rest easier knowing the next level of living is ready and waiting for you should you ever need it.
How do senior living communities differ in price?
The price of upscale retirement communities will vary based on a number of factors — location, floor plan and level of care. When compared to the price of other apartments or condos in the area, one may find a luxury senior living community is actually quite reasonable. However, many communities will require a hefty upfront entrance fee, which can cost upward of six figures and detract from savings and investments that could benefit you down the road.
Which community offers the best value?
The Ridge Senior Living communities bring high-end senior living within reach, offering an affordable solution for those who long to continue living the vibrant life they’re accustomed to. Because we’re committed to investing in you without asking you to invest in us, we don’t require an upfront entrance fee.
We also provide transparent prices in relation to each of our floor plan offerings in our Salt Lake City communities. Assisted Living apartments start at $2,595, and Memory Care apartments start at $2,995. We’re currently developing a community near Denver, Colorado, offering independent living options priced to scale.
When you choose to call a Ridge community home, you’ll receive the true luxury of keeping your hard-earned assets where they belong — in your keeping.