Is Independent Living More Affordable Than You Think?

When people begin considering independent living, one of the first questions is often, “Can I afford it?”

But there may be a better question to ask:

“How much is it really costing me to stay in my current home?”

For many older adults, the answer can be surprising. Once you consider everything you spend to maintain a home and a lifestyle, independent living may be more affordable—and offer more value—than you think.

Look Beyond the Monthly Payment

It’s easy to compare the monthly cost of independent living to just a mortgage or rent payment. But that doesn’t tell the whole story.

Living at home can also mean paying for utilities, property taxes, homeowners insurance, lawn care, repairs, maintenance, transportation and other expenses. Even a home that is completely paid off isn’t free to maintain.

Then there are the unpredictable costs: a new HVAC system, roof repair, plumbing problem or appliance that suddenly needs replacing. And these expenses are growing exponentially higher each year.

Independent living brings many of those expenses together into one more predictable monthly payment, making it easier to understand and plan for your living costs.

What Are You Already Paying For?

When comparing your options, start by adding up what you currently spend each month on:

• Housing costs, property taxes and insurance
• Electricity, water and other utilities
• Home maintenance and repairs
• Lawn care and landscaping
• Transportation and gas
• Fitness or wellness memberships
• Entertainment and social activities
• Other services you may pay for to make life at home easier

Looking at the total—not just your mortgage—can create a much more realistic comparison.

More Than a Place to Live

Affordability isn't only about what you spend. It’s also about what you receive for that money.

Independent living at Friendship offers more than an apartment or home. Residents can enjoy activities, social opportunities, transportation, amenities and a community of neighbors—all without the responsibilities that often come with maintaining a house.

There’s no lawn to mow. No home repair project waiting for the weekend. No shoveling snowy walkways. No need to wonder who you’ll call when something breaks.

Instead, you have more freedom to spend your time doing the things you actually enjoy.

No Large Entrance Fee

Another misconception about senior living is that moving into a community always requires a significant upfront investment.

Friendship’s independent living communities are rental-based, with no entrance fee or buy-in required.

That can be particularly important for older adults who want the benefits of community living without committing a substantial portion of their savings to an entrance fee.

It also means the equity you’ve built in your current home can remain part of your financial picture rather than automatically becoming the price of admission to your next home.

The Value of a More Predictable Lifestyle

There’s another benefit that can be harder to put a dollar amount on: predictability.

As a homeowner, you never know when the next expensive repair will arrive. Independent living can remove many of those surprises and make monthly expenses easier to anticipate. Knowing someone else is taking care of the property and having access to additional health services if your needs change give our residents peace of mind.
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The Value of Community

And there are benefits that don't appear on a spreadsheet at all.

Having neighbors nearby who are in the same phase of life is priceless. Friendship residents often express how much they enjoy the sense of community. They easily make new friends, enjoy hobbies and outings and even try new things that help with their overall health and wellbeing. Many residents tell us that they wish they had come to Friendship years earlier.

Compare Before You Decide

Independent living won't be the right financial choice for everyone. But it deserves a true apples-to-apples comparison.

Before assuming senior living is too expensive, take a few minutes to calculate what you’re spending now. Add up the costs of maintaining your home and lifestyle, then compare that total with what is included in independent living.

You may discover that the difference is smaller than you expected.

And when you consider everything you gain—convenience, community, predictability and freedom from home maintenance—the value can be even greater.

Ready to Do the Math?

If you’re curious about independent living at Friendship, we’d be happy to help you compare your current expenses with the cost of community living.

Schedule a visit, explore your options and discover whether independent living could make sense for your lifestyle—and your budget.

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NORTH CAMPUS INDEPENDENT LIVING

CONTACT: Ken Mowbray, (540) 777-7103

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RICHFIELD LIVING INDEPENDENT LIVING

CONTACT, Jennifer Hanks, (540) 380-6523

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