Probably, yes. Most people think that living in a retirement community is too expensive and they cannot afford it. And, the more services it offers, the more expensive it will be. But that is not necessarily true . . . many times living in a retirement community can cost less than staying in your own home. When you factor in all the costs of maintaining a home – utilities, taxes, housekeeping, repairs and maintenance – it often makes sense to make the move to a retirement community, where all those expenses are included in your monthly fee. And, add in the free activities, fitness classes, educational opportunities and transportation, and you may be getting a whole lot more than you currently are at home.
Let’s do the math:
| Household Expenses | Your Cost at home: | Your cost in a retirement community: |
| Rent/Mortgage/Fees | $ | $ |
| Property Taxes | $ | $ INCLUDED |
| Homeowner’s Insurance | $ | $ INCLUDED |
| Electricity | $ | $ INCLUDED*** |
| Water/Trash/Sewer | $ | $ INCLUDED |
| Major Home Repairs (roof/painting/AC) | $ | $ INCLUDED |
| Lawn Care | $ | $ INCLUDED |
| Seasonal Maintenance (leaves, shrubs, trees, gutters) | $ | $ INCLUDED |
| Housekeeping | $ | $ INCLUDED |
| Dining (grocery expense for main meal of each day) | $ | $ INCLUDED |
| Health Club Membership | $ | $ INCLUDED |
| Security Patrol | $ | $ INCLUDED |
| Basic Cable TV | $ | $ INCLUDED |
| Entertainment | $ | $ INCLUDED |
| Local Transportation | $ | $ INCLUDED |
| 24-hour emergency services | $ | $ INCLUDED |
| Monthly Total: | $ | $ |
***Electricity is included in some, but not all communities, depending on your desired level of care.
