Housing Slump Making Seniors Postpone Eldercare Moves
One way to pay for eldercare is to sell your home. But in this market, it’s easier said than done, and that’s impacting when seniors are able to move to assisted living communities and nursing homes, reports Kaiser Health News.
“We see people coming in much older and frailer because they’re taking a longer time to make the decision,” says Donna Taylor, executive vice president for the nonprofit Arizona Baptist Retirement Centers in Phoenix. “They don’t know how long it will take to sell their house, and in some cases they’re reluctant to sell because of the lower price.”
Another eldercare executive told Kaiser Health News, “I’ve been in this business for over 15 years and I’ve never seen people wait this long to make a decision to move in.”
Some senior communities are working with people to get them onto the property anyway, the article reports. (We covered that here too.) But experts are constantly warning people to deal with eldercare issues sooner than later. Perhaps that advice now extends to putting your house on the market. You can read the article here: “Housing Bust Derails Some Seniors’ Assisted-Living Care.”
Leigh Ann Otte is a freelance writer who covers finding and paying for eldercare for OurParents. If you have any questions about this post or need help finding senior-care options for a loved one, call 1-866-483-4896 to speak with a care advisor in your area.