If you’re starting to plan your retirement, chances are you are spending a lot of time working on your budget. It’s common for seniors to be concerned with the cost of retirement because there are quite a few expenses that come up during this time. Aurora’s cost of living is about 12% higher than the national average, but it is lower than Denver and seniors can find a few ways to save money here. Arapahoe County has a senior tax exemption on property taxes that can ease the amount you have to pay each year, and if you search, you can find that most expenses will fit into your budget.
Here is a look at some of the big costs you might face and what it might cost in Aurora.
Housing is one of the main reasons the cost of living is a little higher in Aurora, but there are plenty of options so you can find something that fits your needs and your budget. If you would rather live in a place where household chores and maintenance are taken care of, you might want to consider a senior living community. The cost of assisted living in this area is around $51,000, and this price will usually include things like meal plans, a few utilities, and other amenities.
The average cost of a house in Aurora is $260,400 which is a bit costly, but home appreciation has gone up 13% over the past year which could mean you would get more money if you sell your house. Aurora was also named as one of the top Denver suburbs for seniors to retire in by Movoto. Movoto also listed Aurora neighborhoods like Tallyn’s Reach, Shenandoah on Smoky Hill, and Saddle Rock as some of the best places to receive top health care.
Health care costs in Aurora are slightly lower than national averages. Medicare spending puts Aurora at $8,919 per beneficiary while the national averages are at $9,500 per person.
Even though you will be saving a little money in health care charges, you should still budget well in this area. You will still need to pay things like deductibles and coinsurances, and there are times when Medicare approved providers won’t use fee-for-service rates. If that is the case, you will need to pay the difference between allowed charges and reimbursements from Medicare.
There are a few ways to get around Aurora and if you choose to use a car, keep gas costs and insurance rates in mind. Gas isn’t too expensive in this area, but insurance can cost you if you don’t look around first. Average rates are $1,204 with the higher rates sitting at $1,658 and lower rates sitting at $760. That’s a wide spread range, so make sure you shop around when looking for insurance and ask for discounts if you are a safe driver. A few companies use a pay per mile model which is useful for drivers that don’t use their car often.
You can also use Denver Regional Transportation. There are buses, trains, and even transportation options to the airport that make it easy to get around without a car. Seniors that are 65 or older, Medicare cardholders, and the disabled can get reduced fares when traveling.
Aurora is a great place to explore nature, and many adventures are free of charge. You can visit Aurora Reservoir, Cherry Creek State Park, Great Plains Park, or the Grandview Dog Park. Aurora is also close to Denver, and there are a lot of things to do there that are free.
Find assisted living in Aurora near you.