Kephart Living


Wednesday, June 13, 2012

Save money $ by building

If you believe that you will be taking care of an aging parent (mom) in the near future, or you are that mom/grandma there are many things to consider.  By starting now while everyone is healthy you have taken that most important first step, awareness!

Now you can address the other changes the family will be facing, increasing medical expenses, personal care needs, safety in the home, socializing with neighbors, friends, and family, and housing for everyone.  Those with equity in their homes may have more options but every family will be affected financially.

In-Home services are far more available today supporting the option of staying in the family home for more years, however an older home should be given a safety once-over and repair or remodeling before allowing mom to continue living in that home. 

In the event that long-term care insurance is available, moving to an assisted living facility may be a choice.  If insurance is not available this option can cost over $50,000 + expenses every year mom stays in such a facility.

At that rate, building an accessory cottage in the backyard will be paid for in two or three years, and then nothing more for as long as mom wants to stay there.  When she chooses to move, the family can use the space for themselves or rent it to others to supplement the family income.

posted by Custom Blogs @ 10:31 AM 

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