How to Save Money on Your Parent's Senior Living

Nursing Home (Photo credit: LOLren)

When you are thinking of moving your parent into a senior living home or you are considering assisted living, knowing how to go about saving money on costs altogether can help to alleviate stress on you and your family throughout the actual transition of moving itself. Saving money on your parent's senior living can be done with a bit of research and an understanding of your parent's needs and wants in a senior living care facility or home.

Amenities and Features

Consider the types of amenities and features your parent is looking for with a senior living care facility or program. The types of amenities and features that are often available within senior living homes and facilities range from medical doctors and nurses to professionals to assist with bathing, cooking, cleaning and other daily activities. With a diverse array of amenities and personalized services, residents can select the lifestyle that best aligns with their needs and desires. The vibrant community environment encourages social interaction, allowing individuals to connect with others while enjoying their independence. Typically, somewhere like one of these Choice Connections independent living options can offer seniors the perfect balance of autonomy and community support.  Consider the type of activities your parent enjoys as well as outdoor options that may be available before selecting senior living care for your loved one.

 Determine Needs

Before selecting a senior living solution for your parent, it is important to consider their needs as well as the space they require before comparing your options. If your parent requires daily care and medical aid, keep this in mind before shopping around for the right senior living facility or home care solution.

Consider Your Budget

Consider the budget you have available to pay for the costs of a senior living facility monthly, annually or even if you choose to opt for home care. It is also important to consider whether your parent is eligible for medical aid from the state or government based on their age and current state of health.

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I remember looking for a place for my dad to stay and budget was huge for my family. Sunshine Retirement Communities was a place we found that happened to have a cost of living calculator on their site. This was very helpful in projecting the costs our family would need to take into consideration when planning to finance his retirement. More info about that calculator here.

Sharing Space

According to Paying for Senior Care, sharing an apartment space or senior assisted living home is also another way to reduce costs, which is ideal if you are on a budget but still seeking additional amenities for your parent.

Compare Out-Of-State Assisted Living Homes

It is also highly advisable to review and compare out-of-state assisted living homes and senior care options. Some states throughout the US have a drastically lower cost altogether for healthcare, including healthcare for seniors.

The more time you take to research various senior living homes and services, the easier it is to find a suitable location for your own parent. Taking the time to research occupancy, available space, and amenities featured at various senior living homes can also give you and your parents more insight into determining the right placement for any age.