INDUSTRY INSIGHT
SENIOR LIVING
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Age at Home or Move to a Senior Living Community?
At Asbury, we have daily conversations with people who are weighing moving to a retirement community versus adapting their current home to support changing physical needs, buying a smaller place, and utilizing family and friends for support as they age.
But for some, the decision to age in place seems to stem more from concerns about the task of selling their home and misperceptions about retirement communities than a lifestyle choice.
Here are two benefits to consider:
• The social interaction and well-being that you gain from a retirement community
• The freedom and financial savings that come with a maintenance-free lifestyle
Chatter Matters
Perhaps the greatest benefit of retirement communities is one that seldom tops a person’ s list of reasons for moving— preventing the emotional, physical, and cognitive cost of reduced social interaction. Studies link social isolation and lack of meaningful interaction with the following effects:
• Decline in physical health
• Increased risk of depression
• Increased risk of cognitive decline and dementia
Retirement communities are designed for successful aging. They offer opportunities to remain engaged through volunteering, planned trips and programs, resident clubs, fitness centers with trained staff, and new friends right outside your door. This doesn’ t mean that your interests are limited to the campus. Residents maintain community ties and friends, and continue to travel or enjoy vacation homes. How people engage in their new community’ s lifestyle remains a matter of preference.
“ I realized this is not your old retirement home, it is your new beginning. Life here is full of energy. Our pool, cornhole, bocce, the trails to walk, grocery shopping, doctor appointment transportation, a supervised gym, dining, and dining delivery. It’ s a resort! Most and not least are friendships to be made. A new lease on life!”
– Marilyn Camillo, Springhill resident
Home Sweet … Maintenance
The upkeep on a house can become financially, physically, and even emotionally overwhelming as we age. So many residents— even those who never viewed maintenance as a burden and worried that they would miss their house— tell us within a few weeks of settling in that they are amazed by how liberated they feel, especially when preparing for or returning home from a trip.
The financial burden of home ownership is particularly true in an older home that may need major renovations such as a new roof, furnace, or water heater. The average cost of painting your
home is $ 5,700, while a new roof can set you back an average of $ 20,000. Replacing 10 double-hung windows is a $ 11,000 investment.
Many of the expenses of home ownership are included in the monthly services fee at a senior living community, including property taxes. Further, the monthly services fee includes some of the bills paid separately as a homeowner, not just the mortgage.
There is a general misconception that a retirement living community is an expensive alternative. But there is a wide range of floor plans and pricing options to match a variety of income and financial asset levels. Comparing the cost of retirement community living to home ownership is important and may have a surprising result.
An Erie leader in aging for over 30 years, Springhill is a wellbeing destination that provides top-quality senior living services and amenities. Schedule a personal tour today! Visit online at SpringhillErie. org or call 814.310.0285.
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Call( 814) 860-7042 | SpringhillErie. org
Springhill is Erie’ s premier continuing care retirement community
Asbury Springhill • 2323 Edinboro Road • Erie, PA 16509 • SpringhillErie. org
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