Blog
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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