16 Jul What to Do with Your Home When Moving Into an Assisted Living / Skilled Nursing Facility

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What to Do with Your Home When Moving Into an Assisted Living or Skilled Nursing Facility

As we age, we all face the choice of what to do with our “forever” home. From working with a skilled agent from SanCap Gateway Realty to entrusting your family to help make major decisions, it’s no small feat when preparing to transition to assisted living or a nursing home. Some people choose to put their home on the market while others opt to hire somebody to move into the home and help take care of it, or even trade the help for rent. Whatever your choice may be, it’s important to know your options.

Choosing a Facility

Your first step will be determining which type of facility best suits your needs. If you need some extra support with cleaning, laundry, meal planning, and administering medication but don’t have a serious medical condition that requires 24/7 care and supervision, then assisted living is your preferred option. These facilities typically have their own living spaces and allow seniors to move about freely. On the other hand, if you need skilled and specialized nursing care, then a nursing home will be the safest choice.

The expense and amenities of assisted living and skilled nursing facilities vary widely, so researching costs and the quality of care is essential. For example, if you’re considering residing in a Cape Coral assisted living community, Senior Care offers detailed information and reviews on 19 communities in the area.

Putting Your Home on the Market

The real estate market is booming right now. With new jobs popping up around each corner, everyone needs a place to call their home. Young couples are seeking out residential housing to start their family in, and entrepreneurs are looking for a more homey feeling rather than a small apartment. To make things even better for the market, interest rates are down, and the real estate world is progressing with professionals to help you everywhere.

When you choose to potentially put your home on the market, it’s important that you interview more than one realtor. If you have a family friend in the business, ask for their opinion and do your research on the top-selling agents nearby. With each prospective realtor, have them give you their advice on what needs to be done to the home before putting it on the market. Make sure they bring you a list of comparable homes that have recently sold to help understand your possible selling price as well. Many good agents will help you find companies to do estate sales so that you don’t have to worry about all of the furniture you can’t take with you, or they’ll bargain with potential buyers to get you top dollar for leaving it all if a buyer wants it.

When your home sells you can feel comfortable with the money you made from it that you’ll be able to afford the cost of assisted living or skilled nursing care.

Renting Out Extra Space

If you’re not quite ready to let your home go, you can always rent it out. Make sure any potential renter provides you with proof of their income so that you know they can afford the place, permission for a criminal background check so you know who’s moving in, and a history of their landlords so that you can confirm they’re a good tenant.

Whether you’re planning to let them rent a bedroom and maybe trade some of the rent for helping take care of you, or they’re going to be taking care of the home when you move, you want to know who is moving in and feel comfortable knowing they won’t damage the place.

Renting won’t bring you as much money as selling your home, but it could give you enough money to help ensure your comfort with this new chapter of your life. Unfortunately, you may have to use that money to pay for any potential repairs that come along.

Don’t Be Afraid

Don’t be afraid to ask questions when it comes to making such a big decision with the house you’ve lived in, as well as your future and what you can afford. If you have a family who’s willing to help out, ask them to conduct interviews with you and help you decide on which realtor has your best interest at heart. They can help you decide whether you should transition into assisted living or a nursing home, have them move in with you, or try to stay in the home a bit longer yourself.

Should they move in with you, it may make things a little easier and give you time to bond with your family a little longer. However, they might not be able to make that move due to work or other reasons, and it could cause a bit of tension in the family.

They can also help you look for the best and most comfortable place you can move to, as well as help with any repairs you may need to possibly have done before putting your home on the market.

Between family and a great realtor, you can feel confident in making the right choices for your needs and having a successful transition. Although it might take some time to adjust, before long, you can make your new space feel just like home.

Are you a downsizing senior who needs to sell your home for the best possible price? Work with a top agent from SanCap Gateway Realty. Reach out today! 239-472-LIST

Article curtesy of Tina Martin [email protected]