Luxury assisted living may sound like a little bit of marketing hyperbole, but it’s actually a very appealing prospect for those that are looking to make the most of their retirement. What’s more, is that it is actually surprisingly affordable – especially right now. If you’re interested in luxury assisted living, then there has simply never been a better time.
Why Luxury Assisted Living is Cheaper Than Ever
If you’re interested in luxury assisted living and you don’t want to break the bank, this is definitely the time to consider getting a place.
The reason for this is that at the moment, the supply greatly outstrips the demand. This is owing to a huge boom in development for these types of properties and living arrangements, with many companies and organizations investing heavily in senior accommodation.
As you may know the population is generally getting older, and this is increasing at a drastic rate. It is thought that the number of people over 65 is going to double by 20601. In order to accommodate for these elderly citizens, companies and governments have invested heavily in infrastructure and property development. Seeing as building homes takes time, it’s not enough to wait until the numbers have boomed to then try and quickly develop the necessary homes: instead, developers need to act now in order to ensure that the property is already there when it is needed.
That means that the number of spots for luxury assisted living has gone up dramatically, and right now there isn’t yet the population to fill those places.
Any empty space like this costs a lot of money for the companies that own these sites: they still have to keep them clean, maintained, and presentable. Therefore, they are willing to sell them at a lower price, simply to fill the spaces.
The other issue for these new developments is that they need a certain patronage in order to start attracting more new residents. People move into luxury assisted living partly because they want to spend time around people of a similar age. Often, arranged activities and social events are among the biggest draws that attract people to this kind of living arrangement in the first place.
So if the property is a ghost-town, no one is going to want to move there! You can’t really sell a community without people.
By moving into a newer luxury assisted living location, you can enjoy the quality of life that comes from a premium experience, the peace of mind that comes from any new property, but the low price that comes from a lack of demand!
About Luxury Assisted Living
So just what is luxury assisted living, and why might it be right for you?
Essentially, luxury assisted living aims to provide the on-site care and support that you may need as you get older, but in a more premium fashion.
Disability often leaves us dependent on others for our meals, help with shopping, medication, housekeeping, and even bathing and dressing. This can force people into retirement homes where they see their freedom and independence eroded. Often these homes also offer a lower standard of living with regards to the quality of the premises themselves: furniture might be old and tattered, and activities might be limited to bingo. For those that are otherwise healthy, this can feel like a jail sentence.
Luxury assisted living offers all the same services but with many more options: including educational opportunities, more exciting activities, and lots of communal areas for socializing. They’ll often provide plush rooms and facilities, not to mention higher quality meals.
The average price of luxury assisted living is around $4,0002 per month up to $5,500. This is a lot of money and will be prohibitive for some people – though it’s also going to have a big impact on your comfort, health, and happiness. Fortunately, if you follow our advice and try to secure a place early in a new development, you can often get the price for lower.
And don’t be afraid to do a little bit of haggling! Companies will try to sell you on the premium experience, but you know that they are desperate to get more people onto their premises so that they can start to operate their business fully. Armed with this knowledge, you can often bring down the rates, or alternatively improve the number of services and amenities available to you.