Guest Post by: Amy Collett
Moving into assisted living is one of the biggest decisions you’ll ever make for yourself. If you’re trying to figure out what to do with your home in Monmouth County, NJ, you have several options.
While you don’t need to decide what to do with your empty home right away — it’s better to focus on choosing a high-quality assisted living program that meets your needs first — you should keep the following tips in mind if you own a home that you’ll soon no longer be living in.
Important Differences Between Nursing Homes and Assisted Living Facilities
Are you aware of the differences between nursing homes and assisted living facilities? Nursing homes, as their name implies, employ a skilled nursing staff that is able to care for patients with medical issues as varied as dementia and Parkinson’s disease. When researching nursing homes, take a look online at reviews, pricing information, and facility reports that can help you make an informed decision.
Assisted living facilities, meanwhile, are appropriate for older adults who are completely healthy as well as those with minor medical needs who can be managed by their physicians. Some facilities have multiple levels of care so that you can simply move to a different apartment or room if and when you need additional help.
3 Options for Your House
Moving into either type of facility takes care and planning, and determining what to do with your home may be the largest piece of the puzzle. Consider the following options for taking care of your home during this transition.
- Selling Your Home
You may be reluctant to sell your home to move into assisted living, which is understandable if you’ve lived there for years or decades. Make a list of pros and cons including whether you think you’ll ever return to the home or whether you’ll pass it on to a family member. If it’s time to say goodbye, get in touch with a licensed realtor to help you stage and sell the house even after you move out.
- Renting Your Home
According to recent surveys, the average monthly cost of an assisted living facility is $4,500. If you don’t want to leave your home vacant but don’t want to sell it yet, renting is a good option for covering the mortgage and other bills involved in your care. A realtor can help you list your home at an appropriate rate and find a good tenant for the property.
- Leaving Your Home in the Care of a Family Member or Close Friend
This may be a good option if you’re not sure you’ll stay in the assisted living home you’ve picked. If it’s your first time in an assisted living program, you should assess whether you think the program will meet your needs long-term. For example, is your goal to cut down on home maintenance tasks, manage a medical condition, or meet a new community of people?
Assisted living programs have different areas of focus. Your first choice may not be right for you, and you may need to move back into your home and reassess. If you can manage your bills along with your assisted living expenses, leaving your home in the care of someone you trust, even if they’re not living there, is a solid option for a few months to a year.
There are many considerations when moving into assisted living for the first time, and the right option for one person may be very wrong for another. Talk to loved ones, assisted living directors, and even residents of the places you’re considering to make an informed choice before selling your home for good.
