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3 Financial Considerations When an Elderly Parent Moves In

Last updated 4 years ago

When an elderly parent moves in, it brings many changes to both lives. If you are planning to have your parent come live with you, try to plan out the finances ahead of time. Preplanning for the new living arrangement can make it easier for everyone to transition:

Medical Costs
If your parent must leave her own home to live with you, she might have a certain amount of medical costs to cover. Whether you need to hire a caregiver while you work or request a part-time nurse to check on your parent, you need to consider these costs, which can add up quickly. Take a look at your parent’s finances and insurance policies to see how to handle these costs.

Living Costs
When someone else moves into your home, you can expect a difference in your living costs. From buying more food to using more electricity, this move will likely raise some of your bills. Be prepared for these extra charges by planning out a new budget ahead of time.

Moving Costs
To ease the transition from her house to yours, you should hire a moving company to transport her belongings. You might also want to consider a self-storage facility where you can place the majority of your parent’s belongings if you do not have room for them in your own house. Hiring movers gives you the opportunity to clean out your parent’s house and give away belongings that no one wants.

With the help of Men on the Move, you can plan a smooth transition for your parent from her house to yours. Our moving men are trained to provide the best relocation services in and around Long Island. We also have a secure storage facility. To learn more about our services, visit us online or call us at (516) 773-6683.

 

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