Aging at home is an appealing concept for many retirees. Their home offers comfort and support from a social circle of friends and acquaintances and also access to familiar resources, including long-term health care professionals.
As the child of these retirees, however, you may wonder how best to help your aging parents. Many adult children make the decision to place their parents in an assisted living facility or to invite their parents into their home.
While these options work well for some families, you also have the option to move back into your parents’ home to offer your love and care. In this blog, we discuss the factors you should consider as you decide whether or not to move in with your parents.
Current Living Situation
If you rent your current home, you may be able to move out on short notice and join your parents’ household. However, if you own your home, you should expect the change in living arrangements to take some time.
You may decide to sell or rent out your home if you cannot or do not want to split your finances between two households. If you intend to move back into your own home in the future and want to keep the house empty, remember that you will have to provide upkeep and continue to pay for utilities there.
Before you move in with your parents, it’s important to evaluate their home. If your parents have not maintained their home well or have not made certain renovations to accommodate age-related problems, the house may not be a safe environment for you or them.
Consider making updates to improve the space, such as adding handrails in the bathrooms and a wheelchair lift to the second floor.
When factoring in your parents’ home, think about the long-term plan for the property. If you plan to keep the home in the family, renovations can be a smart investment. If you plan to sell the home eventually, making significant upgrades may not be your best choice.
Immediate Family Members
If you are a single adult with no children, it may be easy to become a live-in caregiver for your parents. However, if you have a larger immediate family, it’s important to consider their needs as well.
Will you, your spouse, and your children all move into your parents’ home? Would the arrangement offer enough personal space? Would the arrangement allow your spouse to continue working for their current employer and your children to stay at their schools?
In some cases, it make work better for you to spend a portion of your time at your parents’ without moving out of your family home.
If your parents have become less mobile, caregiving can require round the clock work. Many child caregivers find it difficult to maintain a full-time job while helping their parents. Talk with your spouse to determine the best way to financially accommodate your desire to help out at home.
Necessary Medical Care
Many children decide to move back in after learning that their parents’ health has deteriorated. However, if you are not trained to provide medical care, you may also need a part-time or live-in nurse to help, especially if one or both of your parents is bedridden or suffers from a degenerative condition that could require immediate medical attention unexpectedly.
No one solution is right for every aging parent or for every concerned child. As you discuss your options with your parents, spouse or partner, or siblings, consider these factors to decide if moving in with your parents is the right move for you.