3 Tips for Saving Money on a Residence for Your Senior-Aged Parent

By Dona January 17, 2017
As your senior-aged parent is slowly getting older, you might be realizing that continuing to live at home might not be the best long-term option. For example, your loved one might be falling more than he or she did in the past, or he or she might be thinking about downsizing or could just be looking for a change. If this is the case, you might have started shopping around for Ottawa retirement homes and other similar options. While doing so, you might have noticed that the cost can be significant, and you could be wondering how your family is going to pay for it. Luckily, following these tips can help you save money on a residence for your loved one in his or her retirement.

1. Choose a Retirement Home

First of all, if you have been looking into assisted living facilities or nursing homes, you should consider whether or not one of these is the best option for your loved one. They can be much more expensive than retirement homes; this is because they typically require a whole lot more care. If your loved one needs all of this extra care, then it will obviously be worth it. If your parent is still independent for the most part, however, paying for this extra care could be a big waste of money. Plus, your loved one might be a whole lot happier in a retirement home that allows him or her to have more privacy and to enjoy more independence. If you aren’t sure about which option might be the best option for your mom or dad, consider talking to him or her and talking to his or her primary care physician for advice.

2. Look into Government Programs

Did you know that there are various federal and more local government programs that are designed to help older people and their families to afford the care that they need? Some of these programs even help with things like paying for your loved one’s living arrangements when he or she gets ready to move into a retirement community. Consider seeing what is out there so that you can find out if your loved one qualifies.

3. Shop Around

Comparing pricing is always a good idea when choosing a retirement home. After all, some are much more affordable than others. Comparing will also give you a chance to see the various places that are out there so that you can choose the one that your loved one will be happiest in.

As you can see, there are a few different ways that you can save money on residences for your senior parent. If you are looking for long term care options for your loved one but are worried about the cost, consider these options for saving money on retirement homes, assisted living homes and nursing homes. For more information visit Sienna Living.

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