A study by AARP shows that 61% of people are worried they won’t have enough money to support themselves after retirement. Besides, 20% of adults over 50 have no retirement savings.
The rising inflation is a major reason many people don’t have the funds to cater to their needs once they stop working.
Affordable senior living options save money after retirement and help seniors get expert care. If you are looking for a community for yourself or a loved one, you should reduce costs without compromising the quality of care.
We’ll provide tips on securing affordable senior housing in Midwest City. We will also discuss various senior living options so you can identify the most suitable one.
Consider Different Senior Living Options First
As you look for budget-friendly senior homes, it’s vital first to determine the best option for your loved one. The communities to look into include:
- Independent living communities
- Assisted living communities
- Memory care units
Independent living communities are great for active seniors who do not require daily help. These offer apartment-style living with some services like:
- Housekeeping
- Meal preparation
- Laundry
The National Centre for Biotechnology Information shows that 43.6 % of people above 80 years need help with bathing. Assisted living is perfect for seniors who need assistance with bathing and other daily activities like:
- Dressing
- Personal grooming
- Medication management
These communities offer personalized services for each senior based on their health needs. They focus on hands-on care while allowing the residents to be independent to a degree that doesn’t affect their well-being.
Memory care units are specifically for older adults with cognitive issues like Alzheimer’s. They offer specialized support to ensure seniors are safe and secure. Many assisted living communities offer memory care as part of their living options.
Knowing what each senior housing option offers will help narrow your search for affordable communities. It ensures you settle for one offering the needed short-term and long-term care at a reasonable price.
Explore Senior Housing Financial Aid Programs
Utilizing financial aid programs reduces the overall cost of senior living and avoids stress. If your loved one is a veteran, they could take advantage of benefits offered by the Department of Veterans Affairs. These cover the cost of assisted living, in-home care, and nursing home care.
If you decide to enroll your loved one in a senior community in Midwest City, they can also enjoy a veteran’s discount.
Seniors eligible for the Supplemental Security Income (SSI) can also get monthly checks that will make senior living more affordable. You may then supplement the payment with other income sources and benefit programs.
Prioritize Essential Services
Every senior living community offers unique services, which makes the costs different. Determine the most essential ones by assessing your loved ones’ health and caregiving needs. Some important services to consider are:
- Meal planning and preparation
- Fitness programs
- Socialization activities
Some seniors prefer to maintain independence in preparing their meals. Senior housing communities often have kitchenettes to allow residents to make their food. If cooking is a priority for you or a loved one, consider it when budgeting for housing.
Seniors may need help managing their medication to stay on top of their healthcare needs. Prioritize the service when looking for a senior living community to ensure your loved one gets the best care.
When you identify vital services, you’ll pick a suitable housing option to avoid paying for unnecessary things and save money.
Choose an Affordable Accommodation Option
Senior living communities offer several housing options with different amenities. For example, they may have one-bedroom and studio apartments for different monthly rates.
Choose a floor plan that accommodates your loved one’s basic needs without breaking the bank. Still, it’s important to ensure they are in a comfortable environment with things such as:
- Window treatments
- Carpeted floors
- Adequate closet storage
- Refrigerators
While you should focus on the cost of the apartment, it’s also good to prioritize safety. It wouldn’t be good to put your loved one at risk of fire or slip-and-fall accidents to save money.
Go for an affordable housing option prioritizing the safety of the residents. For example, their rooms should have sprinkler systems and smoke detectors in case of a fire.
Ask About Tiered Pricing
The cost of a senior living community will vary depending on the level of care your loved one needs. Those in independent living may pay less than those in assisted living. Find out about the cost of each service to start budgeting in case your loved one needs a higher level of care later.
Senior housing communities offer memory care for residents with dementia. They may provide stimulating activities to improve brain function. Find out about the cost of such services and know if you’ll pay for them separately or if they will be part of the overall housing price.
Plan Ahead
Exploring your options will help you identify and secure cost-effective senior housing. You get enough time for things such as:
- Researching communities in Midwest City
- Comparing pricing and amenities
- Applying for financial aid
When looking into the different types of senior living communities in Midwest City, consider factors such as:
- The location
- Available services
- Proximity to family and friends
Once you have several options, book a tour to see the amenities and assess the environment. You can also learn more about their care, financing options, and availability. If you need to enroll your loved one soon, opt for an affordable senior housing community with a fast-track move-in program.
Senior housing advisors help families looking for housing find affordable communities. They can give you valuable insights into different financial aid programs and explain the eligibility. Talk to these experts to gather more details about senior housing to prepare mentally and financially.
Enjoy Affordable Senior Housing at Morada Midwest City
Using the tips we’ve discussed will help you find affordable senior living options catering to your loved one’s needs. At Morada Midwest City, we offer quality care for seniors looking for an engaging community.
Our supportive team provides services tailored to improve your loved one’s quality of life. Contact us to book a tour.
