Retirement Home Costs

Finding the true cost of moving to a retirement community vs. living in your current home takes only a few minutes by completing this simple cost-comparison form. With everything considered, you may find that your present monthly expenditures are close to or possibly even more than, the cost of living in a retirement residence.

CURRENT ANNUAL INCOME
Government Pension
Other Pension
Dividends
Interest
Annuities
Trust Income
Other Income
Gross Income (A)


EQUITY INCOME FROM SALE OF PROPERTY
Sale Price of house
Outstanding Mortgage (if applicable) (minus) -
Real Estate Commissions (minus) -
Other Selling Expenses including Moving Costs (minus) -

Net Proceeds of Sale

Annual Investment Income From Net Proceeds of Sale (B)

Revised Gross Annual Income (A+B)

Annual Income Tax (minus) -

Total Available Annual Net Income
Monthly Income (C)

 

COST OF LIVING
ITEMS PRESENT MONTHLY COST COST IN A RETIREMENT RESIDENCE
Rent or mortgage payment $ $
Property Taxes $ Included
Property & contents insurance $ $
Repairs & Maintenance $ Included
Utilities - Electricity $ Included
Utilities - Gas $ Included
Utilities - Water $ Included
Emergency Communications System $ Included
Fire & Security systems $ Included
Housekeeping $ $
Usually included - residence specific
Laundry facilities $ $
Usually included - residence specific
Groceries/Dining Out $ $
Meals normally included – in some independent living residences all meals may not be included
Entertainment (include Cable or Satellite TV) $ $
Usually included - residence specific
Gardening/Snow removal $ Included
Other $ $
TOTAL MONTHLY COST $ $
Deduct monthly investment income &/or what is generated by sale of home N/A - $
COST COMPARISON $ $
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