If your parent or family member can no longer live independently, it can be hard to figure out your next steps. You have to research care facilities, determine if they can move in with you, figure out what to do with their home, and a long list of to-dos will continue to grow.
This is a stressful and challenging time for everyone involved, and we want to save you the hours of Googling, so we created this comprehensive list to help you navigate these changes with the right resources and steps.
Your first step is to determine whether they will move in with you, go to a care facility, or have a live-in nurse. Deciding which of these options works best is a collaborative effort. Maybe your loved one needs to downsize to a smaller home and hire a nurse a few times a week; perhaps they feel most comfortable moving in with you. No matter what option you move forward with, check-in with their doctor, and work with them to determine the best situation for their health and well-being. Here is some more detail for each of these options:
One option you have is to move your loved one in with you. Before making this decision, there are some things you should consider:
Moving your parents or loved ones in with you can be an excellent option, as long as you keep these things in mind. If you are away from work and don't have the extra space, you might consider moving them into a care facility.
If you are considering moving your loved one into a care facility, there are a few things you should keep in mind:
If your loved one is independent but cannot take on the burden of a big house, you might consider helping them move into a smaller place and hire a nurse. This option is great if they do not have too many health concerns and still want to be independent to an extent. Some care facilities also offer apartments on-site, so they care when they need it but only when it becomes necessary.
Cost is always the deciding factor when trying to find the best solution for your loved one. If they consider moving to a smaller place or an assisted living facility, they can sell their home to cover the costs. You can work with an investor like The Trusted Home Buyer to get a fair cash offer and a quick closing date. We have worked closely with several clients transitioning to a smaller home or relocating to live with their children, and we work hard to help find the best solution for their needs.
You can also apply for government funding like Medicaid, leverage a life insurance policy, or find a facility with a flexible payment option. There are also non-profits you can reach out to for help.
Take a deep breath, take some time to figure out their best options, and don't forget to practice some self-care. Be sure to work with your loved ones, so they feel like they are apart of the decision too. While this can feel like an impossible situation, there are so many options available to you.
Arizona is a hot spot for people looking to buy a house. The state has the second-highest rate of homeownership in the country, with two-thirds of homes being owner-occupied. It also ranks near the top when it comes to home price growth, so if you're considering selling your house, now may be a perfect time! […]
A Guest Post From OasisAdvisor When it comes to such an important aspect in your life or the life of a senior you know and love, you want a trusted advisor to guide you every step of the way. Being proactive and planning is the best approach. We want you to know that we understand […]
Things You Can and Cannot Do: When You Have an Exclusive Contract with a Real Estate Agent? Having an exclusive contract with a real estate agent leads to numerous benefits, some expected and perhaps even unexpected. However, when a real estate agent asks you to sign an exclusive contract with him or her, he or […]