Real Estate Articles

What is the cost to stay in the Residential Assisted Living Home | By: Gene Guarino

The National Average for a Private Room in an Assisted Living Facility in 2016 is $3,600 per month in an average home, which would probably not be up to the standards YOU would want to actually live there.

For homes that most people would consider living in or placing their family member in, the average price is going to be more around $4,000 to $5,000 a month.

So how are people coming up with that much money?

Not everyone is, but many of those over 65 may be better prepared that you may think.  They bought a house 50 years ago for $40,000 and it is now worth $200,000 or more.  They may have invested in a long-term care insurance policy.  Some may have worked for a company for 40 or 50 years and now have the retirement plan that goes with it.

Now what about those that are not prepared . . . what if own the assisted living home and when it comes time, you move into the master bedroom, and live there for free!  Then when you pass on, you pass the cash flowing assisted living house on to your kids leaving them a HUGE finanical legacy.

Want to learn more - join me at MAREI on the 10th and the 14th.

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