Types of Senior Living Communities
There are several types of senior living communities, each with different levels of care and services offered. The most common types of senior living communities include:
Independent Living Communities
These communities are designed for seniors who are able to live independently but want the convenience of on-site services and amenities. Independent living communities typically offer housekeeping, laundry, transportation, and social activities.
Assisted Living Communities
These communities are designed for seniors who need help with activities of daily living (ADLs), such as bathing, dressing, and medication management. Assisted living communities typically offer personal care services, housekeeping, laundry, and social activities.
Memory Care Communities
These communities are designed for seniors with dementia or Alzheimer's disease who require specialized care and supervision. Memory care communities typically offer a secure environment, specialized care services, and structured activities to promote cognitive health.
Skilled Nursing Facilities
These facilities are designed for seniors who require around-the-clock medical care and supervision. Skilled nursing facilities typically offer medical services, rehabilitation services, and assistance with activities of daily living.
Factors That Impact Senior Home Pricing
The cost of senior living can vary greatly depending on several factors, including:
Location
The cost of living can vary greatly depending on the location of the senior living community. Communities located in urban areas or in areas with a high cost of living are typically more expensive than those located in areas with a lower cost of living.
The Palace Group offers several senior living options in a variety of locations in South Florida, including the following (prices updated: 2/8/023)
Weston
(Independent Living - Starting at $6,160/Mo, Assisted Living - Starting at $8,030/Mo and Memory Care - Starting at $8,580/Mo)
Coral Gables
(Independent Living - Starting at $6,800/Mo, Catered Living - Starting at $7,800/Mo)
Kendall
(Independent Living - Starting at $5,900/Mo, Catered Living - Starting at $8,900/Mo and Assisted Living - Starting at $7,150/Mo)
Homestead
(Assisted Living - Starting at $6,100/Mo and Memory Care - Starting at $6,400/Mo)
Level of Care
The level of care required can greatly impact the cost of senior living. Communities that offer specialized care, such as memory care or skilled nursing, are typically more expensive than those that offer independent or assisted living.
Amenities and Services
The amenities and services offered by the senior living community can also impact the cost. Communities that offer more luxurious amenities, such as swimming pools, fitness centers, and gourmet dining, are typically more expensive than those that offer more basic amenities.
Tips for Finding The Right Senior Living Options
Finding the right senior living options can be a challenge, but there are several tips that can help you make a prudent decision:
Research - Take the time to research different senior living communities to find those that fit your budget and offer the level of care and services you require.
Consider Shared Living - Shared living arrangements, such as roommates or shared apartments, can be a cost-effective way to live in a senior living community.
Use our pricing tool below, so that you could see all that’s included in a typical Palace community and compare the numbers for yourself against renting or owning your own apartment or house.
