Cost of Senior Living in Salem, VA at TerraBella Salem
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In general, senior living in Salem, VA, is more affordable compared to national averages; you can get independent living apartments for $1,000-$2,500 per month and assisted living for $4,400-$4,500 per month. Most seniors use a mix of personal savings, veterans' benefits, and other financial strategies to afford their payments.
As we get older, our health declines, and often, we lose our independence. For many seniors, this means that aging in place at home isn't a choice, so they must look into senior living options instead.
You're probably wondering about the cost of senior living if you're now interested in senior housing in Salem, VA. If so, then read on for more information so you know how to plan for your future better.
What Is the Cheapest Way for a Senior to Live?
The cheapest way for a senior to live is aging in place in an owned home or sharing housing with roommates. It can also be quite affordable to move in with family, but all of these options come with downsides, such as reliance on others.
Those who are still active and independent can consider renting a senior apartment. However, you'll still have to completely take care of yourself, which can be a burden.
While senior living communities aren't the cheapest way for seniors to live, the services and amenities that come with them make every penny worth spending. You'll enjoy a much higher quality of life, which you deserve in your golden years.
What Is the Cost of Living in Salem, Virginia?
According to Payscale, the cost of living in Salem, VA, is 4% lower than the national average. Let's break it down into categories:
- House: 5% lower
- Utilities: 17% higher
- Groceries: 3% lower
- Transportation expenses: 2% lower
- Healthcare: 12% lower
The median rent is $1,481 per month, which makes living in Salem affordable.
Typical Costs for Senior Living Options in and Near Salem
While every community will have its own pricing, we can still provide you with ballpark monthly costs so you can get a clearer idea of what to expect.
If you're after independent senior apartments, it can cost you $1,000-$2,500 per month. Assisted living costs in Salem, VA, are a bit higher since you need more care; it'll cost you around $4,400-$4,500 per month. Memory care pricing will be even higher, at around $4,500-$5,500 per month.
It's best to request quotes from multiple communities to narrow things down further.
Ways to Pay and Financial Assistance
According to NerdWallet, the average retirement savings is $333,940, which can cover a decent proportion of senior living costs. Other ways to pay include benefits and public programs, such as:
- Long-term care insurance
- Veterans' benefits
- Personal strategies (e.g., downsizing, reverse mortgages, annuities, etc.)
Does Social Security Pay for Assisted Living in Virginia?
You can always use your Social Security benefits to pay for housing or care costs. However, the disbursements are often insufficient to completely cover assisted living costs in full. You should consider your SS benefits to be part of a broader plan.
What's Included at TerraBella Salem?
At TerraBella Salem, your rent covers a lot, such as all utilities (excluding phone service). In addition, it'll include our exclusive programs, as well as:
- Apartment maintenance
- Weekly housekeeping and linen services
- Chef-prepared meals and snacks
- Daily enrichment activities
- Senior-specific wellness programming
- Daily assistance (such as medication management, continence management, and help with showering or bathing)
We also have a military veterans program. This gives eligible new residents half off their first month's rent, as well as a one-time $1,000 off their second month's rent if they're accepted for veterans' benefits.
Frequently Asked Questions
What Is the Best Age to Move Into Senior Living?
There's no single "best age" to move into senior living. Instead, you should look at your:
- Health
- Mobility
- Social needs
- Finances
The important thing is to consider your options before you have urgent care needs (in your mid-60s to early-70s), so that way, you can choose and move while you're still active and independent.
Is Salem, VA, a Good City to Retire in?
Retirement living in Virginia is good, and especially so in Salem. Perks include:
- Affordability relative to many metro areas
- Walkable downtown amenities
- Strong regional healthcare in Roanoke
- Outdoor access to the Blue Ridge
How Do I Evaluate the Quality of an Assisted Living Community in Salem?
First, check out their website to see what they offer, such as activity programs. Then, read resident reviews to see if they're satisfied.
Another essential thing to do is to visit in person. You can see how mealtimes or activity hours go, and you can also speak to current residents and families.
Can I Keep My Doctor if I Move Into a Salem-Area Senior Living Community?
Often, you can. But always confirm with the community and your doctor to see if the distance and clinic policies allow continued care.
Are There Tax Benefits for Caregivers in Virginia?
There are some tax benefits for caregivers in Virginia, such as SB1488. You should consult with a tax advisor for personal eligibility.
How Does Weather/Seasonality Affect Senior Living in Salem?
Salem has four distinct seasons, with winters that have occasional snow and ice, and springs/falls that are mild and enjoyable. Keep these things in mind when considering whether to move to Salem and when choosing housing.
Know the Cost of Senior Living
While you're still in good health, you should know what's available for senior living, even if you think it'll be years before you need it. When you know things beforehand, such as the cost of senior living, this will give you plenty of room and time to weigh out your options and plan accordingly. As a result, you'll have less stress, and you'll be better able to focus on the finer things in life.
So if you haven't thought about your future living circumstances yet, get started today. It certainly doesn't hurt to have a plan, and you can always tweak it as life changes.
The exclusive health and wellness program at TerraBella Salem helps our residents achieve the best possible quality of life through activities like yoga, educational classes, and spiritual gatherings. Contact us today to get more information on senior living in Salem, VA.