Father’s Day: How Will Elder Care Affect Your Home and Finances?

Written by Zachery Adam

June 10, 2019

Father’s Day: How Will Elder Care Affect Your Home and Finances?   

Father’s Day is this Sunday, June 16th. I know that I’ll be celebrating with my children, which brings me a lot of joy. I also know that a lot of people in Asheville are part of the sandwich generation. Not only do they care for their children but also their aging parents, both mothers and fathers. We thought it would be a good time to bring up some of the thoughts people have about helping their parents as they age. Here are some ways that elder care can affect your home and finances in the future.  

Care in Your Home 

For many adults in Asheville, and around the country, the new reality is caring for aging parents in your own home. This means you may have to adjust your current housing either through a renovation or by buying a new home to suit your changing needs.  

Care at home takes a lot of forms. This article provides a lot of ideas and resources that can help you. Some tips include: 

  • Ask yourself the questions about how this will affect you, your marriage, your children, and your parent. 
  • Consider the positive impact.  
  • Involve the whole family in the decision, including your siblings.  
  • Review expenses and finances.  
  • Review physical needs.  

Home Renovations for Aging Adults 

Depending on the health of your parent, you may also need to do some home renovations to prepare to move them in with youThis checklist is for aging in place, which you’ll also see described below, but can be helpful for adult children to refer to when planning a move 

Some considerations include: 

  • First floor access 
  • Accessibly for walkers or wheel chairs
  • Bathroom safety
  • Ramps 
  • Security 

Financial Support for In Home Care 

Your loved one may need more than just accessibility at home. You may need to work with a healthcare provider while your mom or dad are living with you. As a caretaker, especially if you’re also caring for children, you don’t need to do it all. That’s an important lesson for many of us to learn. There are resources to provide the quality medical care necessary for your parent at home.  

Your parent may quality for in home care through Medicare or Medicaid. Or they may have taken out private insurance to help offset the costs of an in-home nurse or occupational therapist.  

If your parent is a veteran, there are additional programs that might help pay for in home care.  

Finding Assisted Living 

Even if your parent lives with you, there may come a time when you are no longer the right person to care for them on a daily basis. Choosing an assisted living facility for your loved one is stressful and feels like you’re giving up, but that’s not the case. Getting your parent the care they need is the top priority, and sometimes assisted living is the best option.  

For more information on places in the Asheville area, check out this 2019 list of the best care facilities in WNC 

Aging in Place for Those Without a Support System 

We won’t go into too much detail here, because we’ve written about it before, but we also want to recognize that not everyone in Asheville has the support system of nearby family to help them as they age. Aging in place is a national movement that helps seniors find the resources they need to stay safe and comfortable in their own home. Read more about it here 

Don’t forget to call you Dad this Sunday. And if you have questions about buying or renovating a home with elder care in mind, call Zachery Adam at GoPrime Mortgage, Inc. today.  

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Although labeled an independent mortgage lender, GoPrime Mortgage, Inc. . is not a one-man operation. Zachery Adam and his Team has the support of a streamlined operation, with professionals who assist in every phase of the loan process. His team includes an appraisal vendor, loan processors, underwriters, closers and even the CEO or president if needed. When you choose to work with Zachery, you get the support of his team as well.

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