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How Much Does Senior Living Cost in Towson, Maryland?

Senior couple smiling while looking at their finances

Maybe you’re ready to downsize and can’t wait to be free of the hassles of homeownership. You’ve done some research and like what you’ve heard about Towson, Maryland. After all, it’s been ranked one of the best places to live in Maryland, earning A’s in the categories of Health and Fitness, Diversity and Outdoor Activities. But you still have some questions about the cost of senior living in Towson, MD. If so, here’s a primer on the cost of senior living and what you get for your money.

The Monthly Perks of Senior Living

Most senior living communities charge a monthly fee. In addition to housing costs, an array of amenities and services are included in the fee. Although there are differences among retirement communities, the features they include typically offer:

  • Convenience. Senior living communities often have on-campus postal services, a beauty salon/barbershop, library and general store, so that many of your errands can be taken care of without even having to get in your car. For those errands that require driving, scheduled transportation is also provided if  there comes a time when you prefer not to drive yourself.
  • Maintenance-free living. Housekeeping and lawn maintenance  are typically provided, freeing you from numerous daily chores and responsibilities.
  • Security. Often buildings are monitored and residents are equipped with a call system in case of emergencies.
  • Fitness opportunities. Staying physically active is one of the most important things you can do to support healthy aging. Senior living communities often feature fitness centers, heated pools, exercise classes and putting greens, so the kinds of activities that keep you moving are just a short walk from your front door.
  • Good food. Most senior living communities offer a meal plan and multiple dining options, so you can suit your daily mood by choosing a formal, casual, or outdoor dining venue. Some communities offer takeout and delivery options for meals.
  • Social interaction. Planned events and a community of friends and neighbors means you have ample opportunities to connect with others. Many senior communities have a cocktail lounge and host regular Happy Hours, or have card & game rooms or other common spaces where you can enjoy social activities and good conversation.
  • Engaging purpose. With attractions like an art studio, cultural excursions and technology classes, most senior living communities offer opportunities to practice favorite hobbies or pursue new interests.

Rental Community vs. Entrance Fee

There are two primary distinctions between senior living communities – those that are available on a monthly lease basis and those that charge an entrance  fee.

  • Rental community. You pay a monthly lease for your residence and enjoy the amenities and services it includes. Although some rental communities do offer some higher levels of care, If your health changes, you may  need to find a new community that can meet your needs. Even if they do offer long-term care, since rental communities don’t charge an entrance fee, you’ll likely have to pay per diem market rates for that care, perhaps in addition to your monthly lease payment.
  • Entrance fee community. Communities that offer a continuum of care, sometimes called a Life Plan Community or a Continuing Care Retirement Community (CCRC), typically charge a buy-in or entrance fee in addition to a monthly fee. The advantage of these communities is that you can move in at the independent living level and, if your health care needs change, you can receive the care you need within the same community at a predictable rate that is typically much lower than the market rate. In addition, if you and your spouse have different care needs, you can both still live within the same community. Entrance fees may be refundable or nonrefundable, depending on the community and the type of contract you select. In the long run, paying an entrance fee can actually save you money, since it helps lock in the cost of higher levels of care. Many seniors use the profits from selling their home to cover the entrance fee.

The Bottom Line

The type of community you choose, its geographic location and the level of care you need will all impact the cost of senior living. At Blakehurst, our one-bedroom independent living apartments have full kitchens, a washer and dryer, and a patio or balcony, providing a comfortable residence in addition to the amenities and services that make life more convenient — and more fun. Plus, we’re a Life Plan Community offering a LifeCare® contract, with unlimited access to available health care services at virtually the same rate you paid in independent livingContact us to learn more about our one-bedroom deluxe apartments or the cost of senior living at Blakehurst in Towson, Maryland.