Independent living, also known as active adult communities, are generally designed older adults to make of their retirement. This is generally done by offering senior-centric programs, events, services, and amenities that are accessible to the residents.
However, something that can hold many people back from applying for a placement is the cost of living in one. Around the United States, rent and entrance fees can differ greatly depending on the state, provider, and the services and level of care required for the resident.
Here at Veranda Club, we understand that financial worries can have a significant impact on you and your loved ones’ mental wellbeing. This is why we have compiled this guide to answer the most common cost-related questions we have received.
What Is the Average Cost of Independent Living Communities?
The average monthly cost of living in an independent living community is around $2,552. This is subject to fluctuations from supply and demand in the different communities as well as the living costs in that state. In Florida, the average per month is around $2,545, with the maximum amount per month hitting around $4,469.
How Is the Cost Calculated?
This cost is calculated based on the range of services or pricing option that you choose. This will differ from community to community, with some offering everything all bundled-in whereas some will have variations that allow you and your loved ones to pick and choose what is required for you to lead your best life.
Some factors that can play a part is the apartment size that you choose, the services that you are opting for, and the general cost of living in your area. One big contributor would be medical care. Even though it is not emphasized for independent living options, some communities will be able to provide this at an extra cost.
Enjoy Independent Senior Living with Greater Financial Security at Veranda Club
Here at Veranda Club, our senior living coordinators are always working with our residents and their families to implement programs that can improve their experience. Financial insecurity and the inability to comfortably financially plan out their future is one of the considerations that ranks high on the problems that many people face.
This is why we have introduced our Rent Lock program. What it does is that you can choose to lock your rent with us for three years that you reside with our independent living community. During this period, your rent is guaranteed to stay the same even if there is inflation or rise in living prices. This is our way of offering our residents more financial security without any long-term commitments or buy-ins. More importantly, even if you subscribe to this program, you can still enjoy all the different programs and amenities we have and can also choose to sign an annual lease as well.
For more information on our Rent Lock program, independent living community, or any of our other offerings or services, contact us today and our senior living coordinators will be able to clear any doubts you have.