Financial Planning
Know Your Options
Moving to senior living doesn’t have to break the bank. Use our tools and resources to help you weigh your options.
Financial planning tools
The cost of moving vs. staying at home
For many families, weighing the cost of choosing a senior living community compared with living at home can feel daunting. But it may not be as expensive as you think. When you tally up the cost of housing, utilities, groceries, home care and transportation – many older adults spend more living alone. Use this worksheet to get a side-by-side comparison of your current living expenses and the rates at an Elegance community.
| Current Monthly Expenses | Your Present Home | Senior Living |
|---|---|---|
| Mortgage or Rent Payment | ||
| Caregiving | ||
| Home or Renter’s Insurance | ||
| Utilities (Electricity, Gas, Water, Sewer, Trash Removal) | Included | |
| Property Insurance & Taxes | Included | |
| Lawn Care & Landscaping Maintenance | Included | |
| Housekeeping | Included | |
| Maintenance & Home Repairs | Included | |
| 24-Hour Security | Included | |
| Laundry Service (Washer & Dryer) | Included | |
| Transportation (Insurance, Gas, Registration, Repairs) | Included | |
| Dining | Included | |
| Social, Cultural & Recreational Events | Included | |
| Exercise & Wellness Programs | Included | |
| 24-Hour Emergency Alert System | Included | |
| Full-Time Activities Staff | Included | |
| Total Monthly Expenses |
Your Present Home ${{yourTotal}} |
Senior Living ${{ourTotal}} |
Tax Deductibility
Depending on the type of services you need, you or your responsible party may be eligible to deduct up to 100% of senior living fees – including apartment, dining and personal care services – on your tax return.
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