For many seniors, the idea of staying in the home you’ve loved for years is comforting. Your home is a place where you’ve created beautiful memories, and there is no doubt it has served you well. But as time goes on, the cost of seniors’ homes can add up – not just in dollars but in stress and effort, too.

Whether you’re weighing the benefits of staying in your current home or considering a move to an independent living or retirement living community like Village On The Isle in Venice, it pays to look beyond the surface to understand what your home is really costing you.

Regular Monthly Expenses

When considering how much your home is costing you, the first thing you should look at is your regular monthly expenses. This includes things like:

• Mortgage or rent payment
• Management or HOA fees
• Property insurance and taxes
• Utilities: electricity, water/sewer, telephone, cable, and internet
• Home maintenance: lawn care, landscaping, pool maintenance, and pest control

According to the Bureau of Economic Analysis, the average cost of living in Florida is $60,204 per person per year. That breaks down to roughly $5,017 per month. In addition to the above expenses, it includes the cost of healthcare and groceries, as well as personal expenditures. 

Rising Home Maintenance Costs

When considering how much your home is costing you, it’s also important to look at the costs associated with maintaining a senior’s home.

According to a 2024 report by Thumbtack, the average cost to maintain a single-family home has reached $10,433 per year, a 5.9% increase from the previous year. Townhouse and condominium owners aren’t immune, with costs rising 5.8% and 3.81% respectively.

This figure includes tasks such as:

• Appliance repair and maintenance
• HVAC repair or maintenance
• Monthly lawn care and landscaping
• Gutter cleaning and maintenance
• Pest control services
• Roof repair or maintenance
• Sprinkler and irrigation system maintenance
• Tree trimming and removal
• Water heater repair or maintenance

Older homes can also require more frequent and costly repairs, such as plumbing, heating and electrical upgrades. As your home ages, the cost of maintaining and upgrading these increases. Climate factors like the Florida humidity and extreme heat, as well as hurricanes, can also put added stress on a home and impact home maintenance costs.

A Challenging Insurance Market

For Florida homeowners, insurance costs are also rising. According to Insurify, an insurance comparison website, Florida homeowners can expect a 9% increase in homeowners insurance costs in 2025 – with the average annual premium increasing from $14,140 in 2024 to $15,460 in 2025. This number is nearly five times the national average.

Florida also leads the nation in homeowners’ insurance non-renewal rates, which have tripled in the state over the last five years.

According to the above statistics, Florida homeowners spend an average of $86,000 to own and maintain a home annually.

The tough reality is seniors’ homes are becoming more expensive to own, maintain and insure.

The Stress and Physical Demands of Homeownership

Beyond the bills, maintaining a senior’s home can also be physically taxing. Lawn care, routine repairs, and cleaning become harder as we age – sometimes even unsafe. Without regular help, it’s easy to fall behind on these tasks. This can make your home feel like a burden, and as you fall behind on tasks it can be stressful and overwhelming to consider how to move forward.

If you don’t live near family and friends or have reliable transportation, staying in your home can also feel isolating. These “soft costs” may not show up on a balance sheet, but they have a real impact on quality of life.

Making a Move: Finding Freedom in Retirement Living

As the costs of homeownership continue to climb, it’s important to ask: Is your home still serving your needs? If your home has started to feel like a financial or emotional burden, there is a better option. 

Moving to an independent living or retirement community like Village On The Isle can offer you peace of mind and give you the freedom to enjoy life surrounded by friends. Village On The Isle offers a wide range of services and amenities to make your life more comfortable, convenient and enjoyable, including:

• Home maintenance: Comprehensive interior and exterior maintenance
• Meals: Restaurant quality cuisine, flexible dining plans
• Housekeeping: Housekeeping and flat linen service
• Utilities: All utilities, including HD digital television, local & long-distance telephone
• Security: 24-hour security staff and electronic security systems
• Social activities: Planned social, spiritual, educational and cultural activities
• Wellness programs: Access to fitness rooms, health and exercise programs, and heated outdoor swimming pool

At Village On The Isle, you gain more than just a place to live. You gain freedom from the burdens of home upkeep and the chance to connect, thrive, and truly enjoy your retirement years. Take a closer look at your current expenses, and consider if the supportive, engaging environment at VOTI is the right fit for your next chapter.