A Homeowner’s Guide to Moving Into Assisted Living
There are a few things that you can do before moving so that your new living situation is as comfortable and stress-free as possible. Whether it is packing up your home or moving to a new one, there are many details that need to be taken care of.
Your Home as Rental Property
Turning your current home into a rental property is a chance to recoup some of your assisted living expenses. Becoming a landlord is a lot to ask of family members because of the many duties involved, so it’s best to consider hiring a property manager.
A property manager can ensure your home is properly maintained. They also have sources to advertise for renters, vet any applicants, take care of rent collection, and be there if any emergency occurs.
You’ll need additional insurance. A homeowner’s insurance policy isn’t enough if your home serves as a rental property. Landlord insurance combines property and liability insurance.
Your city may require a permit for residential properties to operate as rentals, so it’s a good idea to check in with city hall to see if you actually need one.
Make repairs or upgrades to your property to make it more marketable and appealing to future renters.
If You Sell
The most important thing to remember is the time frame for selling your home.
You’ll need to take into consideration the time you sell your home as it relates to an asset for long-term care. The federal government implemented the “look-back period.” which means you can be penalized if your assets (money, homes, cars, artwork, etc.) were gifted, transferred, or sold for less than the fair market value. You’ll want to seek legal help to ensure you’re making the best decision.
Your home will need to be seller-ready, which can be a huge task so don’t be afraid to ask for help.
You want potential buyers to imagine themselves living there. That means getting rid of a third of your things, maybe putting them into storage until you’ve moved. This includes family photos, collections, travel items, and keepsakes. It’s hard for a buyer to imagine their things in the space with yours cluttering every room.
Make any necessary updates and repairs. For example, leaking pipes and cracked windows need to be fixed because they can be a big turnoff for potential buyers.
Hiring professional cleaners to help you prepare your home for sale, and then clean once you’ve moved out can save you a lot of hard work.
Look for moving companies that will pack for you too. It will be worth the extra amount you spend by saving you back pain and stress. Check with your mover first to learn what they will or will not pack. Also, read online reviews before hiring any moving company.
Assisted Living to Skilled Care
The difference between assisted living and skilled nursing care is that the former is focused on providing a safe and healthy environment for people to live in, while the latter provides medical assistance to patients who are recovering from an illness or injury.
Assisted living facilities provide social services, such as assistance with daily tasks, meals, transportation, and other activities for older adults with varying levels of physical abilities. These facilities also provide services such as health education and wellness programs.
Skilled nursing care focuses on providing medical assistance to patients who are recovering from an illness or injury. The level of support provided by skilled nursing care varies depending on the patient’s needs and the condition they are currently experiencing.
Look online to find detailed facility reports, pricing info, payment options, and reviews from other families for nursing homes in your area.
When you do decide that assisted living would be right for you, research all the ones in your area thoroughly. Then speak to your family about what they’d like to help you do with your home—rent it or sell it. But be sure and talk to an estate attorney before making the choice to ensure it’s in your best interest.
After that, enjoy the new freedom, fun, and companionship that you’ll find in your new community.
If your home is in the Houston market, make sure your first call is to Houston real estate company, R. Alexa Group!