One of the most common reasons that seniors may delay a move to assisted living is concerns about cost, as well as a reluctance to consider parting with their home. Many seniors, on the other hand, believe that they’re just not ready for senior living yet. They’re still in excellent shape and can care for themselves, so they don’t need supportive independent or assisted living. Candidly, their family members may feel otherwise- especially because they see the need for safety and enhanced services that can be provided in a senior living environment.
If this sounds all too familiar, this article is for you. The fact is that there has never been a better moment to consider moving into senior living. Not only is it wiser to make the transition when you are still healthy and mobile, but current real estate inflation has made it an excellent time to sell your home and pay for your relocation.
The real estate market is extremely robust, and to characterize it as a seller’s market would be an understatement. According to the National Association of Realtors and numerous other sources, house sale prices have increased by around 20% over the last year. So, what is driving up purchase pricing?
First and foremost, housing demand is high, while supply is low. With timber costs rising more than 185% over last year, fewer new homes are being constructed. Meanwhile, pandemic weariness has prompted many city-dwellers and office workers to look for bigger houses in the suburbs. Not to mention that today, the Millennial generation is the largest demographic in the United States, with individuals ranging in age from mid-twenties to mid-thirties – the prime homebuying years. Furthermore, interest rates have been historically low for an extended amount of time, making it more appealing for interested buyers to enter the market, increasing demands even further.
What does this signify for older home owners? The most cost-effective approach to pay for elder care is to sell your house, and now is the best moment to do it. You’ll receive top dollar, and your home might even sell before your agent has a chance to advertise it.
If you’re holding out because you don’t want to part with the property in order to keep it in the family, have a talk about it with your family. In our experience, most people recognize that their parents assets are there for THEIR PARENT’S care and want their parents to experience the day to day happiness, safety and the socialization that go hand in hand with senior living.
If you’re an adult child who has been wrestling with the option of helping a loved one find assisted living or memory care, there’s never been a better time to make the shift.
While you’re still healthy, there are several reasons to relocate to an assisted living facility, but perhaps the most compelling is that you can continue to make your own arrangements.
It’s a big choice to live in an assisted living facility. It’s probably not a decision you want someone else making for you. However, if you get hurt or sick before you’ve made arrangements, it is virtually certain that you will not be in the driver’s seat when the decision needs to be made. Do your research ahead of need and consider making the move while you are able to enjoy all of what the community offers.
There are several advantages to choosing assisted or supportive independent living, even if you can take care of yourself right now. Many of our residents appreciate the fact that nutritious, delectable meals are available every day, so they don’t have to worry about grocery shopping, cooking, or cleaning up afterward. Many residents of the Briarcliffe Preserve appreciate the added security and relaxation that we provide. Unlike a personal home, assisted living residences are designed to assist you in not only avoiding a fall or injury but in having a stress free living environment and even have healthcare experts on call if needed.
Between the increasing property market and numerous benefits of senior living, there’s never been a better moment for seniors to sell their houses and relocate. If you’re thinking about selling your house, get in touch with a professional real estate agent in your region to learn more about the local market. Choose 3-5 senior living communities to visit and to get a feel for so you are more comfortable when it’s time to make the big decision.
You can learn more about the Briarcliffe Preserve supportive independent and assisted living communities on our website. Schedule a tour online or call to speak with an assisted living specialist.