Many people believe that continuing to live in their own home is less expensive than living in an assisted living community. However, depending on how much assistance a person needs, this may not be the case. The actual housing costs may not be much if the mortgage is paid off, but the cost of maintaining the house, and the cost of assistance for various activities may mean that the total monthly cost may be more.

Cost of Living at Home Versus Assisted Living

When evaluating the actual cost of remaining in the home, keep in mind the following expenses:

  • Property taxes

  • Insurance

  • Utilities - water, garbage, sewer, electricity and gas

  • Phone, Cable & Internet

  • Yard care and maintenance

  • Housekeeping, laundry, home maintenance & repairs (don't forget large ticket items like roofing)

  • Transportation - gas, maintenance, insurance, taxi service

  • Recreation & Entertainment

  • Three Meals Daily

  • Exercise, Health & Wellness programs

  • 24 Hour Emergency Call Service (for example fall monitoring)

  • Daily aid with the Activities of Daily Living (cost will vary depending on how much aid is needed)

Several websites have cost calculators that can help determine whether it might be more cost effective to age-in-place or move to an assisted living community. Here's a link to one on "A Place For Mom"