Assisted Living Vs. In-Home Care: The Costs

Assisted Living Costs vs In-Home Care Costs

Daily Costs

When looking at the cost of care, it’s often best to look at the costs on a daily basis. Looking at costs on a monthly level can be overwhelming, but approaching care costs on a daily level can help you identify where your money is going and what you are getting for it. It is easier to break down the costs of 166$ per day than it is to analyze 5000$ a month.

For the following examples, let’s assume that an assisted living facility runs 5000$ per month (166$ per day), and in-home care runs 25$ per hour. These are both fairly safe estimates with the current costs of care.

The Daily Costs of In-Home Care

At an assumed rate of 25$/hr, the tipping point financially when it comes to in home care vs assisted living is at around 6 hours per day. This doesn’t tell the complete story though, because there are more expenses involved than just care when living at home.

Staying in your home includes a number of costs that you don’t have at an assisted living facility. If you have rent or a mortgage, those costs are added on top of your care costs, which tips the scales toward assisted living. Expenses like homeowners insurance, utilities, food and other daily expenses are all things to keep in mind when assessing the costs of in-home care vs assisted living.

As another example, if your loved ones living expenses are around 1500$ a month, then with the previously assumed 5000$ a month budget you are looking at four hours of daily in home care as the tipping point for in-home care versus an assisted living facility.

Assisted Living Benefits

Assisted living facilities have a number of other benefits included that can make them a more affordable option than one might expect. Benefits like transportation to doctor's appointments, free cable and internet, and included prepared meals are all benefits that you can buy piecemeal in an in-home care situation, but can quickly add up.

Many assisted living facilities have heating and air conditioning combo units in the rooms, and residents are more likely to keep their temperature where they want it than if they had to heat or cool an entire house.

Assisted living facilities are also completely retrofitted with for ADA and senior use. There are already wheelchair ramps and wide hallways, and roll in showers for ease of access. These are retrofits that can be done to any house, but those costs can add up quickly and need to be considered. Families can retrofit a house, just to move their loved one into assisted living anyway and have to spend even more to return the house to its original state.