If you’re considering a senior living community for yourself, parents or loved ones, it is important to know how much it costs so you can budget appropriately. The cost can vary greatly depending on factors like the location, accommodations, level of care required, and the additional amenities and service fees.
Luckily, investors have been drastically over-building senior housing developments because they’re anticipating the number of seniors in America to double in a decade. Essentially, this means that there is a surplus of senior housing right now and communities are desperate to fill their vacancies. So if you look in the right places, you should find incredible deals.
What Does Senior Housing Usually Cost?
As of 2016, The Cost of Care Survey reported that the national median rate for a one bedroom living facility increased 2% to the price of $3,628 per month.
The Statistics They’re Not Telling You
According to the National Center for Assisted Living, there are currently over 28,000 assisted living residences in the U.S., housing over one million seniors. Though this seems reasonable in theory, the number of seniors is expected to almost double by 2035.
In response, they are looking to double or triple the amount of residences within 10 years.
That leaves a gap of time where the number of Assisted Living and Nursing homes will outnumber the amount of seniors living there.
Because of this, the prices will drop drastically in order to fill rooms in each home.
Cities like Colorado Springs Colorado, Scottsdale Arizona, and Huntington Beach California, have all already seen the increase in Senior Living with up to 20% bumps in the last 2 years. And locations like Alaska, Mississippi, Malaysia, and Thailand let you retire with little to no taxation on savings.
There is an incredible opportunity for you and your loved ones to save big on the costs of senior living.
Where to Find The Best Senior Living Deals
These deals exist, but they are not being advertised everywhere. Why? Because residences don’t want to lose money during less-demanding periods.
For the best deals and lowest prices, seniors need to act now before demand increases. You’ll get savings well ahead of the rest of the senior population if you’re prepared. Make the move into senior housing now, and you’ll be able to save tens of thousands of dollars in the years to come.
You must do your research. Research your city and local area to find out what kind of senior living opportunities are available. Get started now – don’t wait until the number of seniors increases and deals disappear.