Age brings wisdom, experience, and, for many of us, limits. If you or your loved one has reached a point where those limits make it difficult or unsafe to live in your current home, you may want to consider moving into an assisted living facility in Williamsville, NY area.
Many people are hesitant to consider assisted living. This usually comes down to misconceptions about what these kinds of communities are. Seniors often picture dismal places with few freedoms. However, this rarely reflects the reality of assisted living. There are plenty of different kinds of facilities that offer many levels of care, as well as facilitate ways for you to retain your independence.
Many people associate assisted living with restriction. The reality is, instead, right in the name: assistance. Getting help with the daily tasks you struggle to complete actually gives you more freedom to live your best life.
It’s important for you or your loved one to choose the facility that best matches needs and comfort level. Before settling on any particular community, tour multiple places to get a sense of their amenities, activities, and atmosphere. Exploring many different options will allow you to balance these factors against the cost of the facility.
When it comes to your current home, there are many ways you can manage the property while still keeping it in your family’s estate. Many seniors would prefer to hold onto their homes, even when they no longer live there. This choice comes with a variety of benefits. For the sentimental at heart, it gives them a chance to retain lifelong memories. More practically, it allows the house to build more value over time, meaning it’s a more profitable investment for beneficiaries.
If you want to keep your home in your estate, you can consider renting it out. This comes with the major advantage of rental income. This extra money can subsidize mortgage costs or taxes, and can also make your ideal assisted living facility more affordable. Renters in the home will also notice leaks and other structural issues before they become big problems, maintaining the home’s value. However, tenants can be unpredictable, and managing a building is hard work, so this route is not for everyone.
You can also simply have a family member live in or manage the home on your behalf once you move out. If they’re living there at no cost, you will still have to pay taxes and maintenance costs on the home. It may make sense to ask any live-in family members to take care of these expenses in lieu of rent.
If a family member is simply checking in on the property, make sure they do so frequently enough to catch any issues. Leaks, pests, and structural damage can start as small, easy-to-fix problems, and quickly grow out of control. If they visit regularly, however, they’re more likely to notice these issues before they become catastrophes.
For some seniors, the simplest and best option is simply selling their current home. Not only does this free up their responsibility to pay taxes and cover maintenance, it also brings them usable money. This can give seniors financial security, especially with the prospect of facing long-term medical care and assisted living costs.
Research your market thoroughly and consider getting your house appraised – it may be worth much more than you think. By selling it at the right price, you can sell quickly and make as much as possible off the property. Just make sure you have the proper paperwork available before you begin the process, and find a real estate agent you can trust.
No matter what you decide to do with your current home, congratulations on your move to assisted living. By giving yourself access to the care you need, you ensure that you’ll be able to stay healthy and safe for many years to come.
To learn more, please give us a call at 716-634-5734