Which Type of Senior Housing is Right for Me?

Great question! And one that is pertinent to starting the search for your new home. Determining what type of home you want before you begin your tours is important so you don’t waste time, energy, and resources. When it comes to care homes, seniors have many options in McKinney:

• • Senior Living: A Senior living community, also known as a retirement community, is a neighborhood designed for older adults, usually ages 55 and older, who can generally take care of themselves, not requiring continuous assistance.
  • Assisted Living: Assisted living is for the elderly or disabled who cannot live independently and require care such as nursing, housekeeping, and prepared meals.
  • Memory Care: Memory care specializes in caring for those who have been diagnosed with memory disorders such as Alzheimer’s disease, dementia and other types of memory problems.
  • Residential Care Homes: Also known as adult foster homes or adult family homes, residential care homes are known for their smaller size and more customized care for their residents. These homes are often a less expensive option than a large building.
  • Nursing Homes: Nursing homes typically offer a high level of care loved ones can receive outside of a hospital.

Texas is one of the fastest growing States in the country building Senior Living Facilities. With a great mix of small towns, most in proximity to Texas’s three major cities means that retirees have all the perks of small town living with the closeness to resources and events that cities can provide.

A recent Genworth report notes that median costs for various types of Senior Living in Texas are lower than the national average. Prices in Texas will see an increase over the next thirty years, but Texans can still expect to pay less for Senior Living than other States around the country.

Which is ideal considering how much there is to do in the great State of Texas. Towns like McKinney, Texas about 30 miles outside of Dallas become the quintessential place to retire. Filled with shops, restaurants, a growing music and art scene, and two beautiful golf courses there is never time to get bored in retirement.

Expected Assisted Living Cost throughout Texas

In recent years, Texas has experienced an increase in the construction of Assisted Living units. The State at large has become an exceptional place to retire, and as care needs change over time Texas will be prepared to take on the various levels of care needed to provide for an aging population.

In 2017, Assisted Living monthly costs for a one private bed room in Texas were $3,500, which is lower than National Median of $3,750. Bringing the median annual total for an Assisted Living unit at $42,000 a 2% five-year annual growth.

Over the next ten years, Assisted Living monthly prices are expected to rise in Texas to about $4,704. Annual rates for Assisted Living in Texas will raise from the current $42,00 to $56,444 by 2027.

By 2037, Assisted Living prices will increase to $6,321 but is still a few hundred less when compared to the expected National Median for Assisted Living monthly cost $6,773 (SOURCE).

In the next thirty years, Texas Assisted Living Facility costs are expected to increase to $101,945. This is nearly three times the annual cost for Assisted Living Care in Texas now. However, McKinney residents can still expect to pay less than the National Median, which by 2047 is expected to increase to $109,227. All prices are estimated to include 3% inflation rates over the next thirty years.

Consider a Move to McKinney, Texas

Only about a half hour outside of Dallas, Texas McKinney has a quaint small town charm and a slower pace of life. Far enough away from the traffic and noise of a populated city, but close enough to head into the city for a fun night out on the town that residents of McKinney’s 30 senior centers have the best of both worlds.

McKinney’s two golf courses Oak Hollow Golf Course and West Ridge Golf Course are ideal for a relaxing round of golf any time of the day. Making it the perfect location to turn all your retirement dreams of afternoon golf games into a reality.

After a round or two of golf, you can head on down to McKinney’s Downtown area that has so many great restaurants. Check out Patina Green Home and Market for a fresh, crisp salad or Spoons Cafe for Classic American & Tex-Mex fare, plus weekly live music in a historic building with sidewalk seats.

McKinney even has plans for the night owls! Every second Saturday, residents can head downtown for fun events like live musical entertainment and late night shopping at fifty shops and boutiques located in McKinney’s Downtown area who stay open late!

McKinney has become such a popular town for Seniors to live that the city built a Senior Recreation Center equipped with an indoor exercise pool, exercise room, locker rooms, nature trails, 2 horseshoe pits, a hike and bike trail from Senior Center to Towne Lake, and 113 parking spaces – 28 pool side, 85 at the Senior Center. The best part is, it is only $5 a year for Texas residents!

An increase in the number of Assisted Living units and the recent building of a Senior Center means that many Retirees will settle right into life in McKinney, Texas, leaving plenty of time to relax and enjoy.

Let our experienced team help you identify the best senior housing type that is right for you. For information and guidance, please call us at 214-929-5055. You can also email Paul@SeniorLivingSpecialists.com or complete our Contact Form.