There are quite a few free activities in the D.C. area, which includes admission to virtually all of the Smithsonian museums, as well as the National Zoo. As residents of the D.C. area are getting rid of the large, expensive homes, and some even their vehicles, they find this is the ideal place to spend time. Thanks to the close proximity to everything, they can walk to social events, stores, and even restaurants. This makes the area extremely appealing.
The current population of Washington D.C. is 672,228 with 11.3 percent of these residents over the age of 65. This is a number that is continuing to grow and as it grows, more and more people are looking for the senior living arrangements that best meet their changing needs.
If you currently live in D.C., you likely already know the appeal of the area; however, according to facts, there are more people moving here as they age.
About a third to half of the buyers who are interested in buying in the D.C. area are either empty-nesters getting ready to retire or retirees.
There are 105 total assisted living communities in the D.C. area, which does not include nursing homes, senior apartments, and other care facilities.
70% of residents of D.C. own their home, which puts them at an advantage when it is time to find funds to pay for their senior living arrangements.
Making the decision of where you are going to live after retirement is a very important decision. There are a number of factors to consider including the climate of the area, how much health care is available and the overall cost of living.
The senior living arrangements a person will require is going to be based on the type of care they need and what they want to do. There are a number of options, with some of the average costs of the most common highlighted here.
Licensed homemaker services (hourly cost): Between $18 and $22; $45,760 annually on average. Adult day care services (hourly cost): $61 to $107; annual cost of $25,740. Assisted living (private room): $4,950 to $8,600 per month; annual cost of $94,050. Nursing home care (semi-private room): $270 to $270 per day; annual average cost of $98,550. Nursing home care (private room): $270 to $270; annually $98,550 on average.
It is important to note that all of these costs are higher than the national average, which is something seniors need to be prepared for when planning to settle down in D.C. There are other options for seniors who do not want any type of scheduled, organized or planned care. This is to move into a senior apartment. These communities, which typically only allow those who are over the age of 55 to move to offer community activities and other amenities that appeal to this crowd. There are quite a few of these locations in D.C., which base the cost of their location on a senior’s income. More can be learned about this by contacting HUD, the U.S. Department of Housing and Urban Development.
The type of senior living that is right for one person, may not be the same that is right for another. Some questions to ask when trying to determine what level of care is needed include:
Do you have any type of medical issue that you will need assistance managing? Are you able to live independently and take care of activities of daily life on your own? Do you want to remain independent with the opportunity for additional care down the road?
Answering these questions will help you determine what type of senior living arrangement is right for you.
When making a change to a retirement location, there are quite a few things to consider. One of the most important is how the cost of this new location will be covered. As illustrated earlier, the cost of all of these options can be extensive, which can cause a financial burden for some. The good news is there are options. Long-term care insurance, a reverse mortgage and even selling a home can all help to cover this new senior living lifestyle in Washington D.C. Be sure to explore all the options for payment to ensure that you can achieve the lifestyle you desire during your Golden Years.
Find assisted living in Washington D.C. near you.