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What is Independent Living and Can I Afford It?

July 21, 2016 amytawbush Blog

One of the most common misconceptions about Independent Living is the affordability.  Most people, when searching for a retirement community, get “sticker shock.”  City Center Village is unique because we offer more services and amenities at an affordable rate. Affordability lies in the hands and head of the prospective resident.  If you were to sit down and make a list of the bills you pay each month in one column, then make a second column and list all of your expenses, including your monthly service fee, which you would incur as a resident of City Center Village I am sure you will find that you can live a lifestyle free from the burdens and expense of maintaining a home, and still have enough money to do the things most important to you.  Listed below is an example, (averaged amounts), for you to use as a guide.

Joe Smith

Home Expenses:                                                                                                  City Center Village Expense

Electric-     $150.00/mo                                                                                                  $0.00

Water-        $45.00/mo                                                                                                    $0.00

Gas-            $80.00/mo                                                                                                    $0.00

Cable-        $85.00/mo                                                                                                     $0.00

Phone-      $45.00/mo                                                                                                      $0.00

Lawn-        $150.00/mo x5 mo                                                                                       $0.00

Maint.-      $100.00/mo                                                                                                   $0.00

Ins.-           $200.00/mo                                                                                                Optional Renters $10/mo

Property Tx-  83.00/mo                                                                                                    $0.00

WiFi-         $50.00/mo                                                                                                       $0.00

Grocery-   $400.00/mo                                                                                                    $100.00 (optional- snacks, etc)


Total Savings:        $1278.00/mo avg

Cost of one bedroom apt:  $2,199.00/mo

Although these are averaged expenses, if you deduct the anticipated savings from the cost of the rent, most people will unlock almost enough money to pay their monthly fee through the elimination of the bills and expenses listed above.  This is why it is important when seeking independent living options to educate yourself, find out what services and amenities are included with your monthly fee and which are not.  Decide what is most important to you- as this should be the last move you ever make and the most important.  If you have questions about independent living options, and the affordability of it, please give me a call- I will be more than happy to sit down and discuss with you, the pros and cons to enable you to make an informed decision which will benefit you further down the road.

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