Have you decided that assisted living options are the way to go for you or your loved one’s retirement plans? Well, you’ve made a great decision because choosing a place where structured care from professionals is always available on hand makes everyday living easy. However, we understand that financing this move might not be an easy road to navigate. Here is the ultimate guide to paying for assisted living in Gadsden, AL.
Pick a Place with Rent-lock Protection
We understand that rent often takes up a large part of your budget when moving into an assisted living community. With inflation and other factors, it seems that rent prices continually rise not just in retirement communities but virtually everywhere. This is why it’s important for you to choose an assisted living community that offers rent-lock protection.
What this feature provides you with is a fixed rent price for a set period of time, like a few years. No sudden price increases means you don’t have to worry about finding a new place, especially after you or your loved one has already settled into a community.
An additional perk is that no long-term commitments or large upfront fees are required. This way, you can have the time and space to decide on what works best for you and your budget during every step of the way.
Choose the Right Apartment for Your Needs
Assisted living communities often offer a variety of floorplan options to choose from. Their costs vary depending on the square footage, amenities provided, and more. Choosing the right apartment comes down to one’s individual needs and preferences.
If you or your family member loves spending time outdoors and socializing with others, it might be better to go for a cozy and quaint apartment that can still provide them with a good night’s rest at night, but they won’t be spending much time in during the day.
Our various floor plans are designed with diverse needs and preferences in mind, and we’d be more than happy to help you select one that best caters to you and your budget.
Consider Getting a Roommate
Loneliness often affects us as we age, and social isolation affects our mental health and wellness negatively, as numerous studies have shown.
Hence, you can consider getting a roommate when choosing your assisted living accommodation as not only will you gain a companion in the process, you will also ease your financial burden by splitting the rent prices.
Apply for low-income discount programs
It could be worthwhile to check if you or your loved one qualify for any low-income discount programs managed by senior benefit programs. By covering the cost of necessities and more, these programs can help to ease some of the financial burden of moving into an assisted living community.
Seek Tax Deductions
If you or your family member suffers from a chronic illness, tax deductions can offer help significantly in reducing the amount you end up paying for the services in a retirement community.
With various avenues to help finance your move, you can now start applying for assisted living communities with ease!