“Peak 65,” also known as the “silver tsunami,” is a record-breaking phenomenon in the United States that began this year. According to CNBC, it refers to how 11,200+ Americans will reach the age of 65 every day from 2024 to 2027.
If you or a loved one is part of that phenomenon, now is an excellent time to consider transitioning to independent living. In these communities, older adults, usually starting from 55 and are in otherwise good health, live a maintenance-free lifestyle.
Since the residents here don’t need personal care services (yet), the cost of independent living is often lower than in other senior living options, such as assisted living or nursing homes.
However, it’s still crucial to understand what goes into the cost of independent living, as this can help you make a more educated choice. But worry not, as our team here at GreenTree at Westwood in Columbus, IN, has broken them down for you, so please read on.
Community’s Location
Like with home purchases or rent, location is also one of the primary factors influencing the cost of independent living care. For example, in states where real estate costs are high, so will the cost of senior living services. According to a World Population Review ranking, the top five areas with the highest housing costs are:
- Hawaii
- District of Columbia
- California
- Massachusetts
- Colorado
In the same ranking, Indiana sits close to the bottom, meaning it has among the lowest housing costs in the country (sixth least expensive). So here, you can expect more affordable independent living costs compared to many other states.
Other location-related factors influencing independent living costs are product, labor, and service costs. The more expensive these variables are, the higher the rates senior living communities usually charge. After all, these communities provide meals, services like maintenance and housekeeping, and utilities like water and electricity.
Size of the Apartment Home
Again, just like renting or buying a home, the size of the apartment you choose will also affect the price you pay for senior living. The bigger or more spacious it is, the higher its cost. The good news is that the best communities offer varying floor plans designed to cater to different space needs and budgets.
For example, in our Columbus independent care community, GreenTree at Westwood, we offer:
- Suite apartments
- One-bedroom apartments
- Two-bedroom apartments
A one-bedroom or even a suite apartment could be an ideal choice if you’re considering downsizing in your golden years. Conversely, you may opt for a two-bedroom home if you’re moving in with a partner or friend or would like to use the second bedroom as a work or hobby space.
Services Included
One of the best things about independent living communities is that they relieve some of the burden of homeownership. Home maintenance and repair costs (and headaches!) are a perfect example. A recent USA Today study found that, on average, they cost U.S. homeowners nearly $6,000 yearly.
Once you move into a senior living community like GreenTree at Westwood, you no longer have to worry about coordinating maintenance and repairs or paying for them out of pocket. Our community’s expert team handles them as part of your monthly living costs.
Still, depending on your chosen community, your monthly living costs may exclude some services. For example, you may have to pay extra for:
- Laundry
- Transportation
- Personal care
At GreenTree at Westwood, laundry and transportation services are complimentary, but personal care isn’t. However, we provide on-site nursing, medical, and therapy services, so if you or your loved one needs them, just let us know, and our team will be happy to coordinate them for you.
Community Amenities
The more amenities your chosen independent living community offers, the more they usually cost. However, remember that it’s your (or your older loved one’s) golden years we’re talking about here. After working hard for the last few decades, you have every right to live as comfortably as possible.
At GreenTree at Westwood, our residents enjoy many exceptional amenities that make everyday living convenient and pleasant. Here are just some examples:
- Multi-function areas for arts, crafts, and gaming
- On-site professional salon and barbershop
- Fitness center
- Clubhouse
- Comfortable and inviting common areas and living rooms
- Lovely landscaped courtyards
Every GreenTree at Westwood resident also has access to these exclusive senior living programs:
- Sensations Dining, our community’s catered dining service
- Expressions Concierge, services that help our residents plan their activities
- Dimensions Health & Fitness, our community’s health and wellness program organized by professional fitness professionals
- Celebrations Activities & Events, our community’s full calendar of social, recreational, and physical health programs
- 100% Satisfaction Guarantee Program
So, you can count on our expert team for help whenever you need it, whether you’re looking to book movie tickets, go shopping, or spend time in nature exploring the beauty of Columbus, IN.
Availability of Special Discount Programs
Some senior living communities offer special discounts to help lower the cost of independent living. For example, GreenTree at Westwood runs a Military Veterans Program for residents who’ve been honorable members of the U.S. Armed Forces. With this program, qualifying new resident veterans will only pay half the rent for each year’s first month.
In partnership with Patriot Angels, we offer another benefit for qualifying veterans under our community’s Military Veterans Program: a one-time $1,000 discount on their second month’s rent.
If you or your loved one is a veteran, we thank you for your service. Please let us know so we can provide you with these discounts as a token of our appreciation.
Ready to Learn the Cost of Independent Living in Columbus, IN?
As you learned in this guide, the cost of independent living depends on factors like the community’s location, the size of the apartment, and the services included. While having more amenities can raise the rates, special discounts can help make them more affordable.
Our professional team at GreenTree at Westwood in Columbus, IN, can happily assist you with a more detailed cost analysis. So, please don’t hesitate to contact us today to learn more about our beautiful, pet-friendly community and schedule a visit so we can give you a tour!
