Affording Home Care and When To Consider Downsizing

"Live long and prosper", a quote from the ever popular show Star Trek: The Original Series, with credit to Theodore Sturgeon. Known as a greeting, these words frame the intentions to do just that, synergistically.

Let's look at this in further detail: "Live long". Well, with the right mental, physical and emotional supports in place, any burdens may be eased. As we age over time, needs or wants change, and the daily, weekly or monthly support required may evolve too. Lifestyles may change as well. What was once important as a younger family may shift as you become an empty nester, and sometimes aligning current needs with the right living environment can make such a positive difference.

The second part: "Prosper". This can be interpreted in many ways, such as happiness, success, wealth and health, yet there can be a correlation between these. As much as family and friends may help with personal care, meal preparation or home care, there may be more support needed to match evolving needs. Financially it can add up, yet it may be necessary for longevity and for prioritizing what's needed most.

How can we "prosper" while affording the care needed? Maybe that involves a reverse mortgage, maybe it's downsizing from your property to a condo, or maybe it's considering a retirement community. The more difficult, yet potentially most beneficial, option may be to downsize in some capacity to gain access to the resources needed. There may be a fair amount of equity in the property you own, and perhaps realizing the equity can help you "Live long and prosper". Having the means to get the care and support needed is a paramount priority.

Nobody wants to move. It's a hassle, it's overwhelming, and it's difficult to know where to start, let alone where to go. As you or your loved one begins to struggle with the tasks of daily living, it's natural to start asking whether it's time to consider other options, beyond the financial considerations. Here are some reasons to consider:

1. Home safety concerns. Are you worried about susceptibility to falls or challenges with mobility? Maybe there have been multiple visits to the emergency room, or even hospital stays, due to mishaps such as burns, slips, cooking accidents or other incidents. Additionally, there is concern about the potential dangers of the home, such as steep stairs, high tubs, uneven patios, or furniture with sharp edges and corners. Perhaps the current environment is becoming increasingly unsafe, and it may be time to consider a more suitable living environment.

2. Progressing memory issues. Forgetting things can be a hazardous issue for seniors. A person suffering from cognitive impairment could potentially leave a heating appliance unattended or let water overflow from a bath or sink. Be aware of signs of memory loss, such as forgetfulness, repeated information, confusion, disorientation or wandering. If you observe any of these warning signs, it's important to have a discussion with your loved one and those in the immediate circle. Don't wait until it's too late to address the situation. These signs may indicate changes are necessary for their safety.

3. Challenges with personal care. Personal care can be challenging for seniors with physical limitations or memory loss. They may fear slipping on bathroom tiles or have difficulty getting in and out of the bathtub, leading them to avoid bathing altogether. If you notice signs of neglected hygiene, such as an unkempt appearance, it may be time to investigate whether your loved one would be better off receiving assistance with daily living activities.

4. Neglect of home and finances. Observing signs of neglect in your loved one's home can indicate that they are struggling to keep up. This may include overflowing trash, increasing amounts of dust, piles of dishes, or general clutter such as unfolded laundry or unattended paperwork. Additionally, your loved one may start neglecting their finances, as evidenced by bills or mail piling up. It's important to have a conversation about their well-being and finances and determine if these tasks are becoming too much for them to handle.

5. Increased dependence on family and friends. While family and friends are often willing to help a loved one in need, if the need is persistent and growing, it may be time to consider a change. Adults living with a partner may start to rely more heavily on their healthier spouse, putting a lot of stress on that individual.

6. Isolation at home. Maintaining social connections is crucial as we age. A supportive community of friends and an active lifestyle can help avoid depression and lack of motivation that can come from social isolation. Companions provide opportunities to socialize, participate in hobbies and meet new people, which can be a great benefit for seniors who are becoming isolated at home.

7. Malnourishment. It's no secret that fuelling our cells with nutritious and delicious meals helps us feel energized. If there's a heavy reliance on microwaved dinners or packaged goods due to an inability to chop vegetables or open a can of beans, help may be needed.

If there is a benefit to receiving home care support for any of these reasons, or you have already been receiving some support but need more of it, downsizing may offer the solution to "Live long and prosper".

Helping with care and compassion. Brian Cowan of Transition With Ease™ is a REALTOR® and Seniors Real Estate Specialist®. He understands your unique needs and assists in finding solutions for them. With a holistic approach, Transition With Ease™ provides resources and support for downsizers to minimize stress and maximize value. This can include selecting the most appropriate living options to consider, touring retirement communities, planning and guidance on next steps, working through a cost analysis, helping find a new place for your home contents, and more.

Brian Cowan, REALTOR®, SRES®, Keller Williams Empowered Realty, Brokerage. If you have a brokerage relationship with another agency, this material is not intended as a solicitation. Information is reliable but not guaranteed and should not be considered legal or financial advice. Each Keller Williams office is independently owned and operated.