Fierce Competition Means Luxury Assisted Living Is Finally Affordable

Fierce Competition Means Luxury Assisted Living Is Finally Affordable
By: Contributor

Contrary to wide-held beliefs, senior living facilities are no longer synonymous with the dreary, outdated nursing homes of yesteryear. In fact, these new facilities often boast state-of-the-art amenities to help residents feel at home from the get-go. And the best part? Many senior living facilities are now less expensive than they were before.

Why are senior living facilities still a popular option?

It’s time to ditch the tired old stigma. Today, senior living facilities are more like hotels than institutions. Daily activities often include wellness programs, group meals, educational activities, exercise programs, fun outings and more. Many senior citizens truly enjoy being in senior living facilities because they provide structure, security and socialization all at once. In addition to entertainment-based activities, many senior living facilities also include more hands-on assistance, such as bathing, dressing, basic grooming and 24/7 security. So loved ones can always rest assured that their family and friends are well cared for.

What does it cost to reside in a senior living facility?

As with all things in life, the price of staying in a senior living facility can vary depending on several key factors, like location and amenities provided. However, on average, it costs around $3,500 a month to stay in a senior living facility. No matter what the cost winds up totalling, though, it’s likely that a senior living facility would still be less expensive than living at home, especially when taking daily assistance into consideration.

Why are senior living facilities becoming less expensive than they were before?

It’s no secret that the population is growing rapidly. And as it grows, it ages. Over the next couple of decades, the number of adults residing in senior living facilities is expected to more than double. And in anticipation of this dramatic surge, companies have begun to build more senior living facilities. As of right now, though, these empty rooms are just that: empty. And in this limbo, there are opportunities to get some unheard-of deals on rooms in senior living facilities. You just have to know the right places to look.

How can I find good deals on senior living facilities?

The amount of rooms outnumber the amount of people applying to live in them. Here’s a little psychology behind the deals. It’s like buying an airplane ticket the day of a flight on an underbooked plane, or calling hotels late in the evening for a same-night stay: It’s likely that the space in question was going to be empty anyway, so they have less to lose by offering it to you
last-minute. In these last-minute situations, it helps to ask if there are any deals being offered. You never know until you try!

Why aren’t the deals being advertised? How can I find them?
Simply put, the senior living facilities would lose a lot of money if they advertised their widespread vacancies. But lucky for you and your loved ones, there’s an easy way to find the best deals on affordable housing in senior living facilities.

Anderson, Jeff. (2018, January 2.) Why Seniors Prefer Senior Living Communities.
Scheib, Donna. (2017, March 8.) Pros and Cons of Assisted Living.

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