Studies show that more than 17% of New Jersey’s population is made up of seniors. Of this amount, roughly 10% are between the ages of 65 and 74.

With so many senior citizens in New Jersey, understanding how to make the most of your retirement is crucial. But how can you figure out the average cost of senior living facilities so you know what you can afford?

If you’re curious about senior care expenses and affordable senior living in New Jersey, we’re here to help. Here are the primary factors in budgeting for senior living and how to make a senior living cost comparison.

What Impacts Costs?

To start, what makes the biggest impact on costs in a senior living home? Several factors can vary drastically depending on where in New Jersey you live.

One of the main factors is the location of the community. A community that’s in a high-demand area may have higher prices. Since mobility impacts many senior citizens, being near desirable areas like government buildings, banks, or entertainment areas will raise prices.

A dominant factor is the amenities on offer. Room size, food quality, services, medical care, memory care, and other factors will all change the price.

Understand where you’re willing to make concessions to alter the price. You may not care about the size of your room, but it might hold great importance over well-trained staff. Know where you’re willing to cut costs so you don’t end up searching for a new community before the month is up.

Where to Trim

Not sure where you can make cuts to save your finances? That’s an intensely personal choice, as your preferences are paramount over any other factor.

However, if you’re looking for what some consider the least important factors, we can offer a few pointers. Here are the places where many people feel comfortable cutting costs.

Room Size and Design

Most communities offer more than one room size or design. Think of a community as an apartment complex.

Few apartment complexes are full of solely 1/1 apartments. You can often change your price by passing up a 3/2 apartment and going for a studio or 1/1 apartment instead.

The same is true for most senior living communities. More expensive suites or larger apartments are sometimes available, but always optional. If you’re living alone in the community, you may not need so much room.

Consider opting for a smaller room size or a more affordable design. It’s a great way to work on budgeting for senior living without costing yourself anything that harms your quality of life.

Optional Amenities

Another important step is to look at what sorts of amenities are available. Amenities are rarely an “opt-in” field. The amenities a community offers will impact its price for all residents.

If a community offers amenities you don’t expect to take advantage of, the price is likely higher for no reason. Do they offer exercise classes or sightseeing trips you don’t have an interest in taking part in?

Think of what amenities are the most important to you and which ones you don’t mind paying for. By doing so, you can cut your search down to communities that only offer the things you feel comfortable paying for.

Location and Convenience

How important is a community’s location for you? By changing where you’re searching, you can often change the price.

If a community is close to certain conveniences, it can raise the price for you. But if you don’t intend to take advantage of these conveniences, why pay extra?

One thing to always keep in mind is whether you’re too far “out of the way” for family and loved ones to visit. Moving an hour out of the city may make the commute too much for some loved ones. Communicate about this with your family to see their thoughts.

In Voorhees, we’re one of the best places in New Jersey for convenience. You’re never far from the most important things, but you shouldn’t expect to pay a premium for such convenience.

Visitation Times

Finally, some communities have different visitation times. These decide when families and loved ones can come to see you, or when you can go see your loved one.

Communities with restrictive visitation schedules are often cheaper. However, this comes at the cost of forcing you to schedule visitation around their schedule.

Where Not to Trim

Now that we know where we can cut for more affordable senior living, where should you always expect to pay the most? Here are some things that we don’t recommend cutting down on to save a few bucks on rent.

Safety Measures

Safety measures are paramount for senior citizens. Studies show that most injuries for seniors are fractures from falling.

As such, most communities will have safety measures that help to reduce falls and lessen their severity. There are plenty of other safety measures to keep in mind, like how close emergency medical services are and how quickly they can respond. The difference is often life or death, so don’t skimp on this factor.

Trained and Kind Staff

Another crucial point is the staff in your chosen community. Studies show that approximately one in 10 Americans 60 or older have experienced elder abuse. These numbers shake out to about five million elders a year – while another study estimates that only one in two dozen cases are reported.

Making sure that the staff is kind and compassionate is a must. They also need training to ensure that they’re able to keep your loved one safe and healthy. Don’t cut costs at the expense of cutting out knowledgeable experts.