Senior Living Communities Are a Cost-Effective Choice in Challenging Economic Environment
Classic Residence by Hyatt is helping older adults and their families better understand why moving to a senior living community continues to be a smart and cost-effective choice—even in this challenging economic environment. The company, which has been agile in its response to the current market by rolling out more flexible pricing and move-in options at all of its communities, is debunking major myths about senior living and educating older adults as to why now is an ideal time to move into a community like Classic Residence by Hyatt.
Dispelling the most prevalent myths, particularly about price and maintaining independence (see below), is a critical part of the education process and is central to helping older adults and their families understand the value that senior living communities provide, particularly in this economic climate.
Typical Myths about Senior Living
Myth #1: Staying in my own home is less expensive than moving to a senior living community.*
Moving to a senior living community can actually help extend the life of a person’s assets.
Myth #2: I will lose my independence if I move into a senior living community.
Senior living communities help older adults to maintain their independence as long as possible.
Myth #3: I will spend less money on care if I stay at home or if I choose a nursing home when my spouse or I actually need it. **
Moving into a CCRC is one of the smartest ways to protect against rising long-term care costs and is much less expensive than market rates for higher levels of care.
Myth #4: I should wait to sell my home until it is worth pre-downturn prices again.
Aging and the potential need for care don’t stop regardless of market conditions.
“Our mission is to help older adults understand the benefits of moving to a senior living community,” said Meg Ostrom, senior vice president of sales and marketing, Classic Residence by Hyatt. “We know what a difficult environment this is to navigate, but we help older adults and their families understand that moving to a senior living community can be less expensive than staying in one’s own home, help protect against the rising costs of care, and help an older adult maintain his or her independence for longer.”
*Figures outlining the costs of staying at home versus moving to a senior living community are available upon request.
**Figures outlining the costs of care on an annual basis are available upon request.
About Classic Residence by Hyatt
Classic Residence by Hyatt is a national leader in retirement living that develops, owns and operates senior living communities from coast to coast. Classic Residence by Hyatt communities have earned honors for being among the nation’s finest, including Platinum, Gold, and Silver Achievement Awards from the National Association of Home Builders Seniors Housing Council. Click here for the company’s Web site.
Classic Residence by Hyatt is a privately held company and is independent from Hyatt Hotels and Resorts.
Hyatt is a registered trademark of Hyatt Corporation.
