Family members struggle when having to decide to place a family member in the care of a nursing home or memory care facility as care for their loved one gets harder and harder.  One of the most important struggles is the financial aspect of providing care. Is it cheaper to provide my loved one with At-Home Care or place them in a facility with an All-Inclusive Fee Structure?

 

By doing a cost comparison of an assisted living community living memory care living versus at home care services, families can better understand and make a better informed decision about which form of care services is better for their loved one.

 

Here is a budget sheet you can use decided if all-inclusive memory care/monthly fee is more cost effective than at-home care.  

 

Average Home Expense Current Cost Memory Care Monthly Fee At-Home Care
Household Expense/Monthly
Monthly Rent/Mortgage All-inclusive pricing Not included
Property Tax All-inclusive pricing Not included
Homeowners Insurance All-inclusive pricing Not included
Association Fee (if applicable) All-inclusive pricing Not included
Utilities/Monthly
Electric/Gas Utilities All-inclusive pricing Not included
Water/Sewer All-inclusive pricing Not included
Satellite/Cable/Internet All-inclusive pricing Not included
Maintenance/As Needed
Lawn Care/Landscaping All-inclusive pricing Not included
Pest Control All-inclusive pricing Not included
Repair of Major Equipment All-inclusive pricing Not included
Daily/Weekly Expenses
Food/Groceries/Shopping All-inclusive pricing Not included
Meal Preparation All-inclusive pricing Not included
Housekeeping/Laundry All-inclusive pricing Not included
Caregivers/Companions All-inclusive pricing Not included
Transportation/Car/Fuel All-inclusive pricing Not included
Recreation/Entertainment All-inclusive pricing Not included
Other Considerations
Companionship/Social Outlets Available Hourly Rate ($15-20)
Opportunity to Enjoy Outdoors Available Not Included
Access to Social, Emotional Interaction Available Not Included

 

(Hourly rates associated with In-Home Care services is an estimation of current area rates.)

Memory Care vs. At-Home Care ~ Cost of Living/Care Comparison

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