Planning for Care Costs: What You Need to Know

As we discussed in Post 6, deciding whether to Modify or Move™ is a deeply personal choice that depends on your health, lifestyle, and long-term goals. But no matter which path you choose—staying in your current home, downsizing, or relocating to a senior living community—there’s one factor that must be part of the conversation: the cost of care.

According to national estimates, nearly 70% of adults over 65 will require some form of long-term care. That care might last a few months or span several years, depending on your health and circumstances. And while housing is a major consideration, care costs are often separate—and substantial.

These expenses can include:

• Hourly or daily rates for in-home care aides
• Monthly fees for assisted living or memory care
• Medical and personal care costs in skilled nursing facilities

According to the Genworth Cost of Care Survey, the cost of long-term care services continues to rise across all care types. This interactive tool allows you to look up median costs by state and by type of care, helping you better understand what to expect in your area and plan accordingly. With costs varying significantly by location and level of care, early planning is essential to avoid unexpected financial strain.

At Forevermore Homes, whether you’re staying put, selling your home to downsize, or relocating to a senior living community, we encourage you to align your housing decisions with a thoughtful care funding strategy. Planning for care costs is just as important as choosing where to live. By taking a proactive approach—ideally with the support of a financial advisor who specializes in senior living and long-term care—you can ensure your future is both secure and aligned with your personal goals.

These professionals often collaborate with elder law attorneys and estate planners to create a comprehensive, proactive plan that protects your well-being and your legacy. Using sophisticated modeling tools, they can help you forecast future expenses based on your current assets, income, projected care needs, and life expectancy. This kind of planning not only provides peace of mind—it empowers you to make confident, informed decisions about your future.

In our next post, we’ll explore private housing options—including single-family homes, condominiums, and multi-generational living arrangements—to help you understand the full range of possibilities for aging in place. After that, we’ll take a closer look at senior living communities and the support they offer. By understanding your options first, you’ll be better prepared to move into the step-by-step decision-making process that follows.

Want the Full Guide Now?

If you’re ready to dive deeper into all your housing options without waiting for the full blog series, you can download the complete workbook today. Navigating the Next Chapter: Housing Options for Seniors in Transition is packed with expert insights, practical worksheets, and step-by-step guidance to help you or a loved one make confident, informed decisions.

Click here to get your complimentary copy now.

About Forevermore Homes

We’re the Forevermore Homes Team of Coldwell Banker, and we’re passionate about helping seniors and their families make confident, informed decisions about housing and care. Whether you’re modifying your home, downsizing, or exploring senior living options, we’re here to guide you every step of the way.