As more and more senior housing complexes become built, competition between the owners become more prevalent. This is great news for you, because as vacancies open up in these apartment communities, promotions are often being offered to potential occupants sometimes these discounts can be substantial. Don’t miss your chance to live comfortably and affordably in the latter stages of your life!
Due to favorable economic trends, seniors transitioning to care facilities can now get better value for their money compared to two years ago. We’re witnessing a ‘perfect storm’ (of great news) for senior living costs. Here’s what’s driving this trend:
Surge in New Facilities
Despite the steady pricing of facilities from assisted living to independent living against general inflation and property value, the establishment of new buildings has resulted in lower occupancy rates and more availability in senior facilities across the USA.
More Frequent Promotions
With competition intensifying among senior housing communities, facilities are resorting to tempting deals and aggressive promotions to attract new residents.
For instance, certain senior living communities are offering enticing move-in bonuses or waiving move-in fees for newcomers. Others are providing discounts on monthly rents or temporary rent reductions. In some cases, seniors have the opportunity to negotiate with the facility for a lower rate.
A survey conducted by SeniorAdvice.com revealed that 75% of senior living communities offer discounts, while 32% provide move-in specials or promotions. The survey also found that 38% of communities offer discounts to veterans.
Increased Support for Low-Income Individuals
Housing choice vouchers have become a significant aid for low-income Americans seeking affordable accommodation. These vouchers, distributed by the federal government to local public housing agencies, are paid to landlords on behalf of the tenant’s family. This system allows families to choose their own dwelling, given the landlord’s consent to participate.
Eligibility for these vouchers is based on household income, with applicants required to earn less than 50% of the region’s median. US citizens can apply for these vouchers through their local public housing authority, leading to secure and affordable housing opportunities.
Favorable Seller’s Market
If you’re planning to sell a property before moving into these facilities, you’re in luck:
You can sell your property when real estate prices are at their peak You can move into senior housing when rates are stable and discounts are high This unique scenario offers a seldom-seen opportunity for seniors to make significant savings on housing.
How to Secure the Best Deals on Senior Living
The trick is to hunt for these deals online. Not all senior housing facilities widely advertise their top deals, as they don’t want to potentially lose money from those willing to pay premium prices. However, savvy online shoppers ready to do a little digging can enjoy benefits like reduced monthly pricing, bonus rewards, room upgrades, and more.
Trust us, these substantial discounts won’t stick around for long. For the best bargains, seniors must act swiftly and seize this “perfect storm.” Kickstart your search today.