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Providing Long-Term Care May Mean Buying a New Home

Providing Long-Term Care May Mean Buying a New Home

Many of today’s caregivers are considering buying a new home that provides living space for their aging loved ones in addition to themselves, according to recent real estate trends. These caregivers are investing in houses designed to offer both privacy and access to ensure that caregivers are available for their parents when they need them most.

In fact, about 14 percent of all families who bought a home between June 2012 and June 2013 were looking for a multigenerational one, according to a 2014 report by the National Association of Realtors. Among those families, 20 percent said that they needed the extra space to take care of a parent or other aging loved one, and 11 percent bought a multigenerational home so that they could more easily spend time with their parents.

Why Should You Consider Buying a New Home?

Sometimes, moving in a loved one is the best solution for his care. Sharing a home has most of the benefits of an assisted living facility, especially if transportation is available to allow your loved one to stay active with his peers in the community.

Of course, this is not a decision that can be taken lightly. It may change the dynamics of your family and your relationship with your aging loved one. But if your family agrees that having your loved one move in with you is the best decision for his long-term care, it may be time to start talking about logistics. Merging two separate households into one requires a careful balance of privacy and access that is often difficult in a traditional home. This is why many families are looking for homes designed for multigenerational living.

What Types of Multigenerational Homes Are Available?

Increasing interest in multigenerational housing has led to an increase in the variety of properties available. Many families have found that they can alter an existing home for this purpose and later sell it to another family looking for the extra space for grandma or grandpa.

These homes offer different levels of autonomy depending on their features, and there are various levels of privacy depending on the layout. Many houses have additions that include separate living quarters, and some even offer small kitchens and dining areas for the senior generation.

Some new homes are also being built with multigenerational families in mind. Separate apartments in the basement or over the garage are common, as are in-law suites that provide privacy for sleeping, bathing, and lounging away from the rest of the family. While these houses may cost more than traditional single-family homes, they can provide significant long-term savings over paying for senior housing, assisted living, or other care facilities.

If you’re considering moving your aging loved one into your home, you may want to talk to a real estate agent about the current market in your area. Buying a new home may have advantages over trying to retrofit an existing home or adjusting to two households combined into a home designed for a single family.

For caregivers considering buying a new home, a medical alert system can bring additional peace of mind while aiding senior independence.

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