Older people need to make sure they have all the resources they need to stay happy and healthy well into their 70s, 80s, and beyond. Depending on their health, seniors may find it difficult to live solo.
Sometimes a helping hand is necessary for very elderly people to get food, take walks, and go to doctor’s appointments.
If a senior has a disease like Alzheimer’s or dementia, living in an assisted living facility might be the best course of action. On the other hand, some seniors are happy and healthy and still capable of taking care of themselves. People like this might need to know how to move into a new home in their golden years, or they can choose to live in the same home.
Finding strategies for saving money is helpful. Senior discounts for homeowners insurance are available depending on the type of house that is bought. What can adult children do to aid their senior parents during this time of possible upheaval? What can seniors do to help themselves during home shopping?
Keep the Home Simple
Getting older can make getting around the house more of a chore. Modern technology advancements have made the future of home appliances complex and difficult for older people to use if they are inexperienced with such items.
Perhaps look into buying a one-story home if climbing stairs is becoming more of a struggle due to physical limitations. Don’t buy a home with a large property in need of maintenance, as this adds to your inconvenience.
Mowing the lawn, clipping trees, and watering the plants can be healthy activities for retired people who are in good health, but some people are not capable of doing these things in their 70s and 80s. Buying a large property is going to require some sort of guarantee from loved ones that they will help take care of all the chores that go into living in a big house.
Don’t install fancy new appliances you can’t understand. Moving into an older home with familiar items inside is a good way for seniors to feel comfortable with their living space.
Move to a Retirement City
Some retired people may want to move somewhere sunny and upbeat. Living in the rain of Seattle is not for everyone. The shiny brightness of San Diego might be better suited for those who get seasonal depression during gloomy seasons.
It’s important for these people to think about how to move into one of these bright cities to combat these blues and whether they have the money to afford the cost of living. Seniors who have a large savings may have the money to pay for luxurious homes they didn’t have when they were younger.
The real estate market reacts by pricing the homes higher if they are in an area of affluence. Homeowners’ insurance may also be higher on homes in an area attracting a lot of retirees. The more expensive the house, the higher the insurance is priced for it. Luckily, many seniors can get great discounts just for being over 55 years old.
Get Senior Insurance Discounts
Companies like Allstate and AARP’s Hartford products are priced specifically for seniors. Allstate has the aforementioned 55 and older discount of over 10%. AARP has always been intended to help seniors manage their money and credit.
The discounts bring the price of insurance down immediately upon purchase due to the intended customers being senior citizens. Safety is the utmost concern for older people and their loved ones. Children sometimes worry their parents and grandparents are going to be in danger of being victimized by home break-ins and other crimes in lower-income areas.
Seniors could move to an expensive area, but the price of housing makes it more difficult to pay for daily expenses. This creates a tough situation. Cheap homes are more likely to be in areas with higher crime rates. It could mean the final decision may just be to move senior-aged loved ones in with children or grandchildren.
Think About Live-In Caregiving Situations
If a senior is in poor health, it could be better for a caregiver to be living with them at all times. Running a house by themselves can lead to complications and consequences. What if they fall and have nobody to help them recover from the fall?
How about Alzheimer’s causing memory loss? Seniors with mental health diseases may leave their homes and not return. This calls for younger people to move their parents or older loved ones in with them so they can keep an eye on them. This also saves both parties a tremendous amount of money.
A senior’s older house can be sold, and no money has to be put into buying another home. Younger homeowners may even be able to get a tax write-off from their older parents if they are living with them by claiming them as a dependent. This gives money back to adult children to alleviate any expenses incurred because of a live-in caregiving situation.
Moving Into Assisted Living Facilities
If a senior’s health problems are too much for an adult child, then moving them into a nursing facility or senior living home may be the best option for their safety. Professional nurses and caregivers are able to assist elderly patients. It should be made clear these situations can get very expensive, though.
Living in a nursing home can be very stressful for seniors if friends or family don’t visit them frequently. Seniors and their relatives should keep in touch often to avoid homesickness.
All in all, seniors may just want to live in the home they raised their family in if at all possible. If they do choose to live in this situation, they can still get discounts on homeowners insurance by switching policies. Seniors can also be happy knowing they may have paid their home off in full and can enjoy financial freedom in their familiar place of dwelling.
Shawn Laib writes and researches for the insurance comparison site, ExpertInsuranceReviews.com. He wants to help seniors understand the choices that can make retirement living more pleasurable.
