Dear Paul:
After several years of declining health and a series of falls, my mom has reluctantly agreed to make a move to an assisted living community. We aren’t sure what to do next. Should we get her house cleaned out and sold before she moves or is it better to get her moved and settled before we sell the house?
She has lived in her house over 40 years and it will require considerable work to get it on the market. But I’m not sure her finances will stretch to allow her to move first.
Do you have any advice?
Alison in Fort Worth, Texas
Dear Alison,
Great question and one family members often ask our senior care advisors!
Our senior loved ones often resist making a move to assisted living. However, once they agree, families often want to move quickly before they change their mind again. But getting the finances together is sometimes a struggle.
In most cases, if you can swing the financing, it is easier on older adults to move and then sell the house. That alleviates the worry of cleaning out the house and making repairs while the senior still lives there.
It also allows realtors to show the house without your having to worry about taking your mom somewhere else during the showings. The times that potential buyers might want to look aren’t always very convenient for older adults.
Moving before the house is sold will also give your mother freedom to move on her schedule and not be rushed if a buyer wants immediate possession.
One idea to consider is a short-term bridge loan. Some have been created exclusively for older adults moving to senior living. These specialty loan programs could help bridge the gap between the time your mother moves to an assisted living community and the time her home sells. Many senior living communities have partnerships with banks and financial organizations to connect you with these programs.
I hope this helps, Alison. Please call us at 214-929-5055 if you would like our help in finding a senior living community for your mom.
Our team of expert senior care advisors is well established in north Texas and can work with you to find a community that best meets your mom’s needs.
Paul
Senior Living Specialists is a free service for seniors and their families. We are compensated by a referral fee when a senior moves into a community or care home.
