The Savings to Be Found in Shared Senior Living

When it comes time to consider assisted living for an older loved one, one of the biggest concerns for families is the cost. While you or a loved one may be sold on the benefits of an assisted living community, many assume it’s not feasible for their budget. Many don’t realize that a private room is not the only option. Here’s why shared senior living could be an ideal solution that benefits you and your budget. 

What is shared senior living? 

Shared senior living is much like it sounds: sharing a space with a roommate in an assisted living setting. To further clarify, assisted living is a type of senior living in which residents are provided support with activities of daily living such as personal care and medication management as needed. Options for shared senior living include the following: 

Shared living in a residential home  

Here, there are fewer residents than in a large senior living community, and seniors with physical or cognitive limitations might find an assisted living setting in a residential home easier to navigate as well. Not to mention, in this home-like environment, residents enjoy familiar daily activities such as getting the mail, going for a walk, and helping with household chores. 

Shared spaces in assisted living communities 

Companion apartments can often be found in assisted living. A benefit of an assisted living community is amenities like restaurant-style dining, beautiful common areas to gather with friends and family, planned activities, a theater, library, computer room, fitness or wellness center, hair salons, and on-site staff to offer support as needed. 

Assisted living companion living  

This shared senior living option in assisted living offers semi-private suites, with each resident having their own private bedroom while sharing the bathroom and living room. Residents enjoy all the features mentioned above in an assisted living community as well. 

Download our Life Is Better When Shared Guide today! 

How shared senior living benefits your budget 

According to the most recent Genworth Cost of Care Survey, the average monthly cost of assisted living for a private, one-bedroom is $4,500. Shared senior living, on the other hand, costs significantly less. In fact, depending on where you or your loved one lives, a shared space could save you thousands of dollars each year on rent and care costs. 

Benefits beyond budget 

Assisted living communities offer a range of benefits that improve quality of life and, in fact, just make life easier, whether you’re in a private or shared space.   

For example, you or your loved one will never lack things to do or someone to enjoy them with because friends, neighbors, and staff are always nearby. What’s more, our communities offer an ever-changing monthly calendar of fun and engaging options like social events, exercise programs, classes, clubs, live music and entertainment, opportunities for creative expression, game nights, group outings, religious services, and volunteer opportunities. 

Residents also benefit from having home maintenance, housekeeping, meals, and scheduled transportation provided. Not to mention, our communities are also designed to minimize steps and fall hazards, plus we offer emergency response systems and other safety features as standard for added peace of mind. 

Specifically for shared senior living, the added companionship, friendship, and camaraderie can benefit seniors who have recently become isolated or withdrawn to more easily re-engage. To that end, prompting by a roommate or simply seeing them head out to pursue hobbies or join an activity can be all the encouragement needed.  

To learn more about shared senior living, download our Life Is Better When Shared Guide today!