**Call The Mark Cabal Team if you have any mortgage questions and we will put you in touch with our trusted Residential Mortgage company**
For most people, the retirement dream consists of independence, relaxation, and enjoyment of free time. And for many, that dream is well within reach. But as retirement continues on, old age may begin to take its toll. Eventually, you may find yourself needing help with certain things like cooking or cleaning, or that you or your spouse needs help with taking medication, bathing, or simply getting around.
The good news: there are several common senior housing options for individuals and couples who find themselves in need of assistance. Independent Living, Assisted Living, and Memory Care are all rising in popularity as the aging population increases. Communities that provide these different housing types can help with activities of daily living such as cooking, or with higher levels of care, such as medication management. They also typically include transportation, activities, wellness programs, and more.
The bad news: they can be quite expensive and the costs are rising. In fact, the average annual price per unit rose by $1,200 in 2015 versus 2014, according to national senior living referral service A Place For Mom. Regionally, southern and western states face the fastest acceleration in cost growth compared to other U.S. regions, APFM found based on its survey of actual rents paid across senior living communities nationwide.
Nationally, the average cost of independent living is $2,700 per month, according to the findings. For assisted living, the average price per month is $3,900 and for memory care, which requires more care expertise, that figure is $5,100. If you happen to live in the Northeast,...