By June Duncan (riseupforcaregivers.org//)
Photo courtesy of Pexels
Senior caregivers have had a lot on their plates in the past year as the pandemic put a strain on health resources and challenged them in new ways. While things are slowly getting better in many states, there are still several roadblocks for caregivers who need to make long-term care decisions for their loved ones, including an evolving housing market. If you’re thinking of selling your loved one’s home to help cover the cost of a move to assisted living, start by gathering resources and tips from Jason Gelios at It’s All About Real Estate. Read on to start planning for your loved one’s future.
Do a little research.
When it comes to selling a home during the pandemic, there are several factors to consider. Do some research to find out more about the trends in your area and to get a sense of what buyers are looking for. The average sale price in Detroit is about $65,000, and homes typically stay on the market for about 39 days. Knowing what to expect will help you create a solid plan with your loved one that fits their needs, especially if they need to make a move to assisted living sooner rather than later. Keep in mind that the pandemic has changed the way real estate business is done, so you may need to be available and find tools for virtual home tours, video calls with an agent, and phone calls with prospective buyers. Open houses are still an option with safety precautions — follow local guidelines for your state.
Decide on changes.
When preparing a home to sell, there are several considerations to make that include making updates and other changes that can help bump up the price. If your loved one is in decline and needs assistance now, you might be dealing with a time crunch or there may not be enough funds to cover the cost of several big changes to the house. Make a list of repairs and tackle those first, then take a look at the bigger picture. In some cases, you may be able to utilize a fresh coat of paint and some decluttering to prep the house for the market. If your loved one belongs to a church or senior community that offers assistance with cleaning or home maintenance, reach out to see if they can be of help.
Keep in mind that downsizing can be difficult for many seniors as they begin the challenging process of going through their belongings. Offering emotional support can go a long way toward helping your loved one through this time.
Gather any necessary paperwork.
It’s a good idea to gather up all-important paperwork belonging to your senior loved one, including home documents, proof of insurance or vaccinations, prescriptions and other healthcare paperwork, and their will or other estate planning documents. These will help you make informed decisions when it’s time to put the house on the market or look for an assisted living facility. If your loved one has long-term care insurance, you’ll need to know exactly what’s covered and for how long.
Find the right facility.
If your loved one requires specialized care, keep in mind that the pandemic has created many changes in the world of assisted living facilities. Some may not be accepting new patients at this time, while others have strict rules about the services they provide and how family members or caregivers can be involved. Learn all you can about a prospective facility and get to know more about your loved one’s rights when they’re in long-term care. Not only will this help you make an informed decision, it will give you peace of mind.
Helping your senior loved one make long-term decisions about their future can be stressful, but a solid plan will allow you to focus on the priorities so you can both get through the process as smoothly as possible.
Have a question for Jason Gelios at It’s All About Real Estate? Call 586.419.2231 or get in touch online.
Jason Gelios is a Husband and Father. After that, a Top Producing REALTOR®, Author of the book Think like a REALTOR®, Creator of The AskJasonGelios Real Estate Show and an Expert Media Contributor.