3 Tips for Transitioning a Senior into Your Home Without Adding Financial Tension
Written exclusively for SteveMartinHomesGroup.com by Mike Longsdon from ElderFreedom.net
Moving an aging parent into your home is such a caring and compassionate decision. It’s also a decision that can have a major impact on your finances, especially when it comes to getting your home ready and safe for a senior loved one. You likely have all of the major steps planned out for this major transition, but there are some simple tips you can use to relieve some of the financial pressure for you and your senior family member. Here are a few to keep in mind:
Promo Codes Can Make It Simple to Save on Essential Items for Seniors
Before your older loved one moves into your home, you may need to stock up a few extras to keep him/her comfortable. Promo codes can help you check items off of your shopping list for less, especially when you use them to shop sales at stores like Macys. You may even be able to double the savings by stacking coupons with cashback offers, which will give you a little extra cash to spend on your senior loved one or maybe even self-care for yourself. Whether it’s extra plates or softer sheets, Macys will have everything you need to welcome your loved one into your home without overwhelming your wallet. Plus, having those extras on hand can relieve some stress for you and your senior family member. You can also use those promo codes and cashback offers to pick up other necessities for your senior loved one, such as a warm robe, comfy clothing, or slip-resistant slippers.
Storage Units Can Make It Easier to Avoid Living in a Cluttered Home
Your older loved one is likely to come to your home with a few things from his/her old home. While having familiar items from home can make it less stressful for your senior relative to settle into your home, clutter can be dangerous. For older adults, especially those with disabilities, low vision, or mobility issues, too much clutter can lead to life-threatening falls. Not to mention, living in a cluttered home can contribute to higher levels of chronic stress and anxiety. Since family caregivers can already be more prone to stress, depression, anxiety, and burnout, it’s a good idea to come up with a plan for keeping clutter from taking over your home. If you don’t have space in your garage or attic to hold onto all of those extra items, you may want to consider looking for storage units in your area. On average, you’re likely to pay $40.20 for a 5x5 storage unit in Venice, but you may be able to find one for as low as $24.
Home Sale Profits Can Provide Financial Cushion for Family Caregivers
Providing a home and care for a senior loved one requires compassion, but it can also include some added financial pressures. In addition to having to stock your home with extra towels and pay for things like storage units, you may also be facing additional challenges when it comes to managing your income as a family caregiver. Many caregivers may need to leave work or cut down on their hours in order to provide care, or they may need to make aging-in-place modifications to accommodate their loved ones (the average cost of these modifications is $9,000). If your loved one will be leaving a home behind, however, you may be able to sell it in order to offset some of that financial stress. Maximizing profits when you help sell your loved one’s home can reduce those stresses even further, so look for ways to stage and strategize when it comes to selling a senior loved one’s home. Once the home is sold, you can use the proceeds to pay off any debts incurred while prepping your home, or you can find ways for your loved one to invest those profits. Speaking with a financial advisor may be best for the latter.
Adjusting to life with an aging parent in your home can already be stressful enough. So use the tips and advice provided above to relieve tension related to your finances and budget. Resolving budget woes can make this transition easier for everyone.
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