Mom has recently decided to sell her home and move into senior retirement apartment building. Her reasons have finally dominoed onto her because for the last 5 years she's been against this idea even though I and my siblings have been telling her she needed to do it before she encountered the domino repair issue. Well, her pride and stubborness has now been crushed by multiple repairs in less than 6 months and more are mounting. She simply cannot afford them. Also the bigger emotional/mental reason is the fact that she is lonely. Needs same generation companionship because she's lost a lot of her neighbor friends and classmate friends over the last 25 years. Dad passed 16 years ago. This last year has been brutal for her emotionally at the rate of speed she's lost many friends. 4 within days of each other. She has a few senior center volunteers who call her, one comes over when she can-at least once a month. Another that use to come nearly daily has moved out of state because her hubby's job transferred him. She sends pretty cards with great messages, though. All that is taking an emotional toll on her, too.
What have been your experiences with selling your parents home "AS IS"? She doesn't have a morgage, owns the house outright, and has for many decades. Someone mentioned to me about a 'reverse mortgage' but I don't think mom would go for that? I don't fully understand that concept, either and would like to know of anyones experience with that.
As for the relocation process: There's a beautiful place locally but it's monthly rent is at least $3000. This complex serves not only as a retirement apartment community but also a nursing home and assisted living centers all on the same grounds/complex/compound, whatever you want to refer to it as. Hence, the hefty expense, I am guessing. Mom said that even after the sale of the house that would be gone in less than a year. She doesn't want to go there because she wouldn't be able to continue paying such a monthly fee. What senior/elderly programs, aid is available to apply to for senior retirement apartment rental assistance? I don't know if this specific location is under the HUD senior program but from what I understand from mom talking about it that it is likely not a HUD property. Still, being that she's on her last decade of life, I would think that such seniors would have quite a listing of rent assistance programs to choose even for such an expensive place. Am I wrong?
Other locations are based on income(HUD), which she felt may better suit her, however she's very picky about the outward and inward appearance of the place she will select. Which will limit her choices greatly.
Her yearly Social Security income doesn't go above the poverished level for a single person. What senior programs are best to apply for to help her with this transition and the ability to be able to have her rent fee subsidized including at that expensive complex that may not be HUD applicable? How long the waiting period may be? Can you move into these retirement complexes and still temporarily have ownership/be going through a house sale that hasn't been sold yet? Or, should the sale of home(and estate belongings) be finalized before her move into the senior home to avoid the home and property being considered asset income? I don't quite know exactly what all her assets would total on top of her social security income. Though she has told me they are not much. What should she liquidate first?What should she not 'liquidate' at all? She doesn't drive so there is no car to worry about.
What have been your experiences when your parents made the transition from a large home in a neighborhood to a 1 bedroom apartment at a senior retirement complex?
My siblings and I have been grateful that our mom still has her wits and mind about her at her age and doesn't need round the clock care. She's slowed down a great deal but can still find strength to cook small meals, clean a little bit, make herself look super presentable, and do her own laundry. However, that said, she has recently stated that she wished someone would cook for her more often now cause her slaving in the kitchen is getting more daunting a task for her. I also think she may benefit more from having laundry on the same floor. She has a heart condition and finds it difficult to navicate stairs going up. as well as holding a full laundry basket worth of clean clothes. The ideal apartment unit would have laundry hookup in the apartment. Or perhaps apartments on the first floor so she can take that short walk to and fro.
Thank you in advance for your input, comments, advice, and stories of your experiences.