How to Handle Your Home Before Moving Into Assisted Living

If you are considering making the move to assisted living, there are many details that must be ironed out before you do so. You need to decide what will be done with your home, how you will finance your stay, and what kind of facility is the right choice. The following considerations from Sunshine Properties will help you prepare for the transition.

1. Choose How Your Home Is Handled

One of the biggest decisions you'll need to make before your move is how your current home should be handled. There are several options to choose from. You can rent it out as a source of income, pass it on to a family member, or list it for sale. Renting can offer financial stability, but, as Houselogic notes, it's also a potential liability. Giving it to a family member is generous, but it may be financially disadvantageous. Listing it for sale may be the simplest option, but it still requires much planning.

2. Gather Important Documents Related to Your Home

No matter what you choose to do with your home, you will need to gather important documents before you proceed. This includes all of your mortgage contracts, the sale agreement and deed, property tax documents, and the title report. You will need this information to turn over to a real estate agent if you sell the home or your loved one if you choose to keep it in the family.

3. Plan for Your Upcoming Move

Once you've decided what to do with your home, you will need to make plans for your move to assisted living. This means you'll need to buy packing supplies, make a moving list, and probably start downsizing your belongings. Moving can be stressful, but it's also an opportunity to simplify and eliminate any items that you no longer need. You can donate these items or give them to your family as heirlooms.

4. Determine How You Will Fund Your Stay

If you haven't settled on a destination yet, carefully research the facilities in your area and don't be afraid to ask tough questions. Check reviews and amenities; you'll need to consider funding, as well. According to Genworth, assisted living has a median monthly cost of $4,500. This is no small sum, and most people don't have reserves of cash to finance this expenditure. If you choose to sell or rent your home, this may cover the cost, but there are other funding sources that you may consider, too. Medicaid may pay for some parts of long-term care, and there are long-term care insurance policies that might also be beneficial.

5. Discuss Your Care Options with Your Doctors

Working with your doctors to determine the appropriate level of care facility for your needs is a crucial step towards ensuring high-quality and effective care. Your physician will evaluate your overall health status, medical needs, and other personal requirements to help determine which type of facility will be best for you. By communicating and collaborating with your healthcare providers, you can make informed decisions about your care and ensure you receive the level of support that is tailored to your unique needs.

Prepare for a Smooth Transition

Invest in your health and ensure you get the care you need by setting up appropriate care options. Prior to this point, though, you must consider what you want to do with your current home. Listing it for sale or renting it may be financially beneficial. Also, giving it to a family member may be more fulfilling. Decide the right path so that you can make a smooth transition to the right facility.

Whether you're buying or selling, Sunshine Properties is here to help! Call 760-728-8855.

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Article belongs to Susie