How do you decide if it makes better financial sense to live at home or to move to an assisted living facility? The right answer for you will depend on many factors, including your personal abilities, the size, condition, and physical features of your home, and the amount of caregiver support you require.

In this article, we highlight some of the financial aspects to consider when deciding whether to stay in your own home or to move to an Assisted Living or Nursing Home. We recognize that financial considerations are just one aspect of this very important life decision.

Comparing costs for living at home versus moving to an Assisted Living Facility or a Nursing Home can be found below.


The following are the average daily, monthly, and yearly costs for Assisted Living Facilities and Nursing Homes in the Houston, Texas metro area according to AARP:

Average Costs to live in a Nursing Home

  • Private room: $200 per day, $6,080 per month, or around $73,000 per year
  • Semi-private: $150 per day, $4,563 per month, or about $54,750 per year

Monthly base rates for an Assisted Living Home

  • Monthly Cost: $3,500, or roughly $42,000 per year

It is important to consider that some assisted living packages include food, transportation, and some caregiving services in their base price while others require additional fees for these services.

You should also consider whether you would sell your home when moving to a facility and factor in costs associated with selling your home (i.e. real estate fees, costs of any repairs required).

What is the Cost to Stay in Your Own Home?

To answer this question, we must take into account your average yearly expenses, as well as the one-time costs of equipment or home modifications that may be necessary to adapt your home to aging needs.

  1. Annual Costs: total all yearly living expenses including mortgage, taxes, insurance, utilities, and groceries
  2. Cost to Modify Your Home – this will vary based on your needs and the layout of your home but as a general idea Consumer Affairs has found the national average of remodeling a home for aging in place is around $10,000

Calculating Your Cost

Once you have your costs totaled, take the cost of staying at home and divide it by the monthly cost of moving to an Assisted Living or Nursing Home. For example, if we consider that the average modifications are $10,000 and the average monthly cost of Assisted Living is $3,500. Those home modifications would pay for themselves in just three months.

The cost to modify your home will vary based on a variety of factors including, but not limited to, whether you want to stay on the first or second floor of the home, the number of stairs your house has, the type of mobility device you use, your needs and abilities, and your personal style preferences.

If you are unsure what it will take to modify your home, consider hiring a specialist to help you in identifying the right solutions for your home and needs. LiveWell Mobility and Modifications can be a valuable resource for all your Aging in Place needs. Our highly trained specialists can provide a free comprehensive consultation and in-home needs assessment. Call (281) 771-1469 to make an appointment.