25-EVD-003-01-Cost-Of-Waiting-Guide-85x11-DIGITAL-HIRES-PAGES[42] - Flipbook - Page 4
THE FINANCIAL COST OF WAITING.
While staying in your home may seem like your least expensive option, especially if you
no longer have a mortgage to pay, the secondary costs of homeownership are often
comparable to, or greater than, the monthly costs of a Life Plan Community. To calculate and
compare those costs, we offer a worksheet* which you can download and fill out at your
convenience.
As you may see, the monthly costs of real estate taxes, homeowner’s insurance, repairs
and maintenance, landscaping and utility costs can add up substantially. And then there’s
healthcare. Even with long-term care insurance, many policies will not cover the cost of care
past a specified number of weekly hours or past a specified number of years. And the market
rates for such services as Skilled Nursing, Assisted Living and Memory Care are subject to the
volatility of the healthcare marketplace.
THE SOCIAL COST OF WAITING.
At a Life Plan Community like Ensō Verde, residents form close and lasting friendships,
bonding over common interests and pursuits from art and culture to spiritual and civic
engagement. Neighbors share interests and pursue passions, taking classes, attending
lectures, volunteering in the community, embarking on excursions and enriching the
community in ways large and small. To fully appreciate all of those advantages, of course, it is
best to arrive at the community while your health and vitality will allow you to participate to
the fullest extent.
THE MEDICAL COST OF WAITING.
Aside from the seemingly inevitable rise in healthcare costs over time, there are other
limitations to consider if a Life Plan Community is your preferred senior living option.
* To request a cost comparison worksheet, please call 805.231.3676 or email us at info-verde@verde.kendal.org
**Nationwide Retirement Institute, Health Care Cost in Retirement, 2024
