Job opportunities or geographic preferences can lead many people to move hundreds or even thousands of miles away from their hometown and their parents. However, as the needs of aging parents multiply, many adult children wonder if it is time to move closer to their parents’ homes. This can be a difficult decision, but there are steps you can take to identify if this is the right choice for you and your loved ones.
Is Frequent Travel Becoming a Factor?
One of the primary deciding factors for many families is how often you are traveling to your parents’ home to provide assistance. Monitoring your loved ones’ health and managing their affairs from a distance can be difficult and stressful, and some tasks cannot be realistically accomplished over the phone or on the internet. According to research, almost half of long-distance caregivers report high levels of emotional stress. If you are making frequent trips to assist your parents due to hospitalizations or other emergencies, it may be time to consider moving.
What Kind of New Home Can You Afford?
The first step is to figure out how much home you can afford. Calculating your debt-to-income ratio helps you
determine how much you can afford to pay for your monthly mortgage. It is also a tool that lenders use when
deciding whether to offer you financing. Calculate your DTI by dividing your debt for a month by a month’s gross
income. Most lenders prefer a DTI of 50% or less.
How Can You Make Moving Easier?
Being a caregiver comes with its own stress, so you probably don’t want to add a high-stress move on top of it. You can make the process easier by preparing yourself for the move.
Call your utility companies as soon as you know where you are moving to and make arrangements. Schedule a mover. Establish a budget so that you don’t end up with any financial surprises. Use an online packing calculator to figure out how many boxes and other packing supplies you will need and then start packing early. Try to use up your food stores and then donate whatever is left over to avoid having to move it. Sell or donate anything you don’t need.
Should You Move Your Loved One in With You?
If your parents need help with day-to-day activities, you may assume that they should move in with you, but that
isn’t always the best option. Your parents may prefer to remain in their own home. Other options include
independent living communities, assisted living communities, life plan communities, and subsidized housing.
If your parents prefer to live in their own place, they may require in-home healthcare or assistance with tasks such as housekeeping. Their home may also need modifications. Communities designed for people who are 55+, such as Garden Patio Villas in Margate, FL, can be ideal locations for seniors who prefer to live independently while surrounded by other seniors who share their interests and can pool resources for services.
Deciding to move nearer to your aging parents may not be an easy choice to make. However, it can be the appropriate next step both to help your loved ones live safely and comfortably and to reduce the stress on you and your family.
~Written by a guest blogger