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Let’s break down the typical expenses for a single person living in a two-bedroom house in a major South African city and compare them to the R12,000 per month that it will costs you for assisted living at Panorama Herberg.
Then, we’ll look at what you might give up but gain in quality of life:
What are the typical monthly costs of staying in your own home in a major city?
For a single person living in a two-bedroom house in South Africa, this is a typical breakdown of average monthly expenses:
- Mortgage or Rent: R8,000 to R12,000 (depending on location) or alternatively if you sell the property with no bond on it, you can earn a similar monthly income on the capital so invested
- Utilities (Water, Electricity, Rates): R1,500 to R4,500
- Home Insurance and Maintenance: R800 to R1,500
- Groceries: R3,000 to R5,000
- Security (Alarm, Armed Response): R500 to R1,200
- Transport (Petrol, Maintenance, Insurance): R1,500 to R3,000
- Domestic Help (if applicable): R1,000 to R2,500
These costs are obviously individual dependent, but please pencil in your own costs.
*Typical costs, that will not change whether you stay in your own place or at an Assisted Living facility, are medical scheme contributions, medication, doctor or dentist visits, personal care / cleaning products and life insurance.
What are the typical costs for a single living person to stay at Panorama Herberg (the Assisted Living facility)?
There are different occupancy options (sectional title, life rights, and rental), each with its own pros and cons. However, for the basic month-to-month rental option, it currently starts from R12,000 per month
What does the R12,000 per month for a Panorama Assisted Living facility (Herberg) cover?
It typically includes: Accommodation, meals, electricity, water, and rates are all included, 24/7 on-site security with panic buttons and patrols, health checks and medication management, housekeeping, property -maintenance and -insurance, laundry, social activities and transport.
What do you give up by moving into assisted living?
So, you have done the calculations. You are satisfied that on pure financial considerations, there are a case to be made to move to an assisted living facility. However, there are some drawbacks.
- Independence. For many people this is the biggest factor in moving to an assisted Living arrangement. However, is the underlying driver for moving to Assisted Living, not based on the realisation, that you cannot fully function independently anymore?
- Personal Space. You’ll likely be downsizing from a house / flat to a smaller, more manageable living space. This means parting with some furniture or possessions you don’t use daily.
- Car Ownership: Depending on your mobility, you may give up driving and rely on the facility’s transport services or family support for outings.
- Communal Living. It can be viewed as negative as well as positive. Communal living requires a certain respect and live-and-let-live attitude for others, but at the same time it can be the start of opening a brand-new social environment, that if approached positively, can mean the end of loneliness and a lack-of social connections.
What do you gain?
Assisted Living is designed to provide you with a certain level of comfort for that stage in your life, where living independent starts to create certain difficulties, that you just don’t have the energy to deal with daily.
Things like home maintenance, repairs, security issues, shop, cook, or clean up after meals, forgetting to pay your monthly utilities, taking your medicine on time, housekeeping, and laundry are all taken care off.
It further provides you with a certain level of comfort in dealing with unexpected risks. It takes that nagging feeling of what happens when I unexpectedly fall and lose my conscious, or become ill, or face a burglar, or feel depressed, or suffers from a cooking accident or need to drive to the doctor. The list is endless.
Your children and loved ones will have peace of mind. One of the greatest gifts an elderly person can give their children or loved ones is to realise when they have certain weaknesses in their daily functionality and do something about it.
It leaves your children with a life, free from worrying about their parents’, to a life that when they contact you, it is because of your social bond and not because of a crises.
Please contact Cassandra for more information on 082 331 5565.
Also see:
Pitfalls to consider when deciding on an Assisted Living facility
Understanding the Difference Between Assisted Living and Frail Care
How Expensive is Assisted Living Versus Staying in Your Own Property?
Common Myths About Assisted Living: Debunking Misconceptions
Understanding Life Right vs. Sectional Title vs. Rental in Assisted Living Facilities
What Questions to Ask When Touring an Assisted Living Facility
Preparing Financially for Assisted Living: What You Need to Know
More info on PANORAMA HERBERG Assisted Living Suites
Would you like more information? Please contact Cassandra:
CASSANDRA O'RILEY
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Please visit PanoramaHerberg.co.za today!
