As your parent gets older, you might wonder if your loved one may need to move to a smaller living arrangement. Even if your parent is still in good health, sometimes there are sound reasons for an older person to move to a smaller residence.
To consider the long-term plans for your parent, look for some indicators that your parent might benefit from living in a smaller home.
Less use of a current home
Once children have become adults and moved out of a house, multiple rooms may go unused. In the event your parent cannot make use of unoccupied space, it might not make sense to maintain a house with empty rooms that consume utilities and add to property taxes.
The current home becomes less safe
Houses can present an increasing number of hazards to aging homeowners. Stairs and steep rises may present fall risks. The bathroom lacks grab bars for your parent to use. The bathtub walls are too steep for your parent to climb over.
In general, your parent might want a single story home with multiple safety features. The current house might not be able to accommodate the wishes of your loved one.
The home is too expensive
Housing expenses could also burden your parent. Mortgage costs, utility bills, maintenance expenses, insurance and property taxes could all add up to a money drain that could endanger the finances of your loved one.
House expenses can be especially problematic if they do not let your parent pay for health care costs. Making sure your parent lives affordably and in a safe home could avoid the need for a nursing home and other care expenses someday.