A lot of elderly people realize sooner or later that assisted living communities are the best source to get the care they need. These communities are known to offer amazing physical, mental, plus emotional support to the residents. They help in maintaining the combination of great relationships and independence. You can do your day-to-day activities with ease and can develop new hobbies. They can help you live your life with great fun, new enthusiasm, and care even after retirement or in old age. 

However, if you are someone who is realizing the importance of assisted living Chula Vista, CA, a little later than expected and is facing financial issues, then it is time to strategize everything smartly. For a lot of people, savings are not enough to pay for assisted living communities. This is the reason that before you take any wrong step, there are some impressive ways to strategize your financing as well as keep every cost in line. 


Why assisted living communities are beneficial for you? 

There are a lot of reasons to choose assisted living communities over anything else during your elderly days. Here are some of the benefits of it are mentioned below: 

  • 24/7 assistance – At an assisted living community, you can get 24/7 self-care, be it bathing, dressing, toileting, getting groomed, etc. It also helps you to maintain your independence. 

  • Home-like environment – Compared to other facilities, senior care homes allow you to enjoy a home-like environment with no worries about isolation or loneliness. 

  • Complete meals – The residents living in such communities also get the benefit of proper meals because of dedicated kitchens. These kitchens guarantee healthy meals for everyone and a variety of food like beverages, fruits, evening snacks, and much more. 

  • Medical services – Assisted living has various wellness and exercise programs which are looked after by various dieticians, psychologists, etc. Plus, caregivers are always around to have regular checkups for blood pressure, sugar levels, and much more. They also ensure that you are taking your medicines on time. 


Simple ways to afford assisted living communities for proper care 

Here are some of the simple ways mentioned below that you can follow to manage your finances as well as keep the costs in line:

  • Leverage a life insurance policy – In case you or any other person in your family has been paying premiums or the universal life policy for ten years or longer and is comfortable leaving less to you, then you can easily get the policy’s built-up cash value. You can simply borrow from the policy, or there is a choice to withdraw your personal cost with no taxes. In case your cash is in the complete policy, then there will be chances to pay ordinary income tax on everything. Thus, it is better to withdraw your cost basis and borrow the remaining. 

  • Know about eligibility for veterans benefits – If you are struggling with finances for assisted living Chula Vista, CA, then you can know about your eligibility for veteran’s benefits. This is for veterans or veteran survivors who are known to have physical or mental restrictions. They can get an increase in their monthly pension benefits. To qualify, it is essential for a veteran to have served during any period of conflict. They can be eligible for veteran’s benefits if they need daily activity assistance or have a disability. 

  • Opt for a home loan – You can even go for home equity loans and home equity lines of credit. It is possible to go for the lowest setup costs, which include fees for loan processing, underwriting, document preparation, etc. There are other formalities as well that you might need to complete. However, getting a home loan can work in your favor to manage finances to get into the assisted living facility. 

  • Get into an assisted living community with a flexible price structure – Another thing you can do is to get into assisted living community with a flexible price structure. Most communities have expensive price structures that combine every service, like three meals a day, on-call aides, transportation, etc. However, you can go for the ‘levels of care’ or ‘tiered pricing’ model, where you can get care for a given number of hours. If you can manage some time without assisted care, then you should opt for this. This is potentially an affordable solution where you only pay for services that you need the most. 

  • Try for open beds – When you face some decline in occupancy in the assisted living facility, then there are chances to negotiate the initial month’s rent, or you can even get it for free. Also, keep in mind that every assisted living community has certain rules, and some of them can always work in your favor. Therefore, you can try for open beds. 

  • Go for low-cost rooms – Another option that can help in managing the financing and getting affordable senior care homes is to get low-cost rooms. If you are willing to manage the location and size of the room, then this can help you in many ways. You can get low-cost rooms that are farther away from the dining room or other rooms. Or you can always share your one-bedroom apartment with other residents to save around 40%-50% of the rent, depending on the community. Also, you can bring your own furniture to cut down the cost of the assisted living community rooms. 

  • Opt for a not-for-profit – Choosing a not-for-profit is not less expensive as compared to for-profit assisted living communities. But they can be of great help as they help the residents who are short on funds. These communities help with continuing care, and this is a great thing for residents. 


Conclusion 

To live in assisted living Chula Vista CA there are many other factors that you need to keep in mind other than the rent. Thus, to find affordable assisted living and manage your finances, the above-mentioned ways can be of great help to you.