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My question is “Would it be better to rent or buy a condo in New Jersey with most of our assets (for future Medicare or Medicaid purposes)?”

Do you want the cold? The snow? The ice? How do you feel about driving in the snow and ice?

What do you want?
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Reply to brandee
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I like Julia's suggestion of visiting for a week or two before making any decisions. Don't stay with your sons, book an airbnb condo in the place you're considering moving to. Go in the winter. Experience the traffic and the weather and see how much time your sons have to spend with you between their jobs, families needs, and any other commitments.

Not saying that to necessarily be negative. You might find the weather to be a refreshing change and the traffic manageable and love the time with your family, and decide to make the move. Just give it a realistic evaluation by experiencing it first, rather than just imagining what it will be like.
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Reply to MG8522
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I would be looking at CCRC communities that have assisted living floors for when one or both of you need more help.
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Reply to PeggySue2020
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How about you just visit for a week or so and see if it agrees with you? Visit the area that will suit you financially. You don't buy a car without giving it a test drive, right? I'd be scared of the crime rates in overpopulated areas. What good is being closer if its not safe for you? Times have changed so much! Another thing is, are you set to be buried in Florida? I don't mean to get personal, just a thought as it should be considered if you should move.
Funeral and moving expenses are awfully high and you wouldn't want your children to have any financial problems. If you decide to move, please sell your home don't rent it out. You could get squatters that could ruin all the equity you worked so hard for. Make this your decision and what's best for you! Don't let yourself be manipulated into moving if that's not what you want. Say no, I'm comfortable here.
I dread the thought of having to go through everything I own to move and I live in a small apartment. Maybe because it was so difficult to clean out mom's house by myself and I'm in my mid 60's.
You know the old saying, "it's a nice place to visit, but I wouldn't want to live there." Try visiting first.
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Reply to JuliaH
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I can understand your children wanting you to be closer. My dad was in his 80's and very active so I would of been devastated if, especially later in life he wasn't around. He would mention moving to Florida but he bought into a 55+ community in the NJ shore area which they are not that expensive, the have low taxes, and many of them offer additional in house care in the event someone needs it. I'm in real estate, I looked at this options in Florida, and outside of the year-round sunny days, I don't think there was a financial benefit if he would of moved.
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Reply to jacqjacq
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It’s hard to start over at an older age. But If you stay where you are the problem is if either of you get sick and need help you will need to make decisions in crisis mode.

i picked up and left to be near my daughter 12 years ago but I was only 58 when I did. It was hard then to make a life in the Bay Area then. It would be much harder at 70.

If you want to stay in your home make sure you know how you will set up
in home caregiving. If you want to go to assisted living, then find one near your family.
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Reply to Hothouseflower
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I agree with Grandma1954, "Why do they want you to pick up your lives and move closer to them?
Do you need help?
If so are they going to help? (don't count on it!!)"
This is the best statement! Family will always say they want their elder to move closer to them, but when they need assistance, they will soon forget about them.
My brother moved out of state and wanted my dad to move close to him. He told me he would love dad near him. My dad moved out of state to be closer to my brother. A year or so later, my brother and his wife picked up and moved further away from my dad. My dad was lonely out there. I would visit when I could and he made a few friends, but he hardly saw my brother who asked him to move near him.
My aunt also moved out of state to be closer to my cousins who begged her to come down. She did. One got married and started a family and soon could not be bothered with my aunt. Aunt has dementia and is immobile with incontinence. Do you think cousins want to deal with this? No, way. What was the solution? Call me from out of state and hope to have me deal with it, as they just cannot be bothered.
If you ask me, I would stay right where I am. People will tell you anything and once you're there, they're gone. My mother, may she rest in peace would always tell me that it doesn't pay to follow people because they will soon forget about you, get tired of you and move on with their lives. She always told me to make your own path. It sounds like you two have done that.
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Reply to Tiredniece23
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I live in NJ and it has the highest property taxes in the nation and car insurance. Rents, I live in the SW, are high. North Jersey is more expensive than south.

My Aunt and Uncle, no children and he invested well, live in a beautiful Senior community in Fla. They have a cottage but there is Assisted Living there and LTC. You may want to look for something like that.

I have seen seniors I know move away to live near children and pass not long after. One man had lost his wife and moved south to be with his son. He came back to get his house ready for sale and told me he was so lonely down there. He had lived where the neighbors had helped each other. Their kids grew up together and they all went to the same Church. He was in his late 80s and passed 2 yrs later.

You really have to weigh the pros and cons. Make a list.
When I am 85 my girls will be 50 and 58. Both have good jobs that I would not expect them to leave. No way are they going to be able to care for me. I already plan on a nice AL.
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Reply to JoAnn29
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Do you need to be closer to them ? Can you hire help in your own Home ? New Jersey winters are cold . Will they really help you when you get there ? They Might be felling guilty and Just saying that . Think twice before you uproot your self from your own Home . Hiring caregivers to come in Maybe More helpful or find an assisted Living area in your Location . Flights from NJ to Florida are cheap .
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Reply to KNance72
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You have received a lot of good input. I would second renting in independent or assisted living or continuum of care near them IF you agree that you want to move or possibly in your current community, if needed and you think best. But other than your sons wanting you to, we don’t know your reasons and what YOU want and need.

Some months after my dad (then 76) was diagnosed with dementia, my mom was not coping well at all and support options near them were quite limited, plus their house was not at all elderly friendly. She was calling me daily or more often with crises. He had always handled finances and she could not. He was doing dangerous things. Etc. I offered to help them move up near me and they did about nine months later with me doing a large amount of the logistics and work. She had extremely exacting requirements in terms of the place she felt she needed and at the time, was totally unwilling to discuss AL or Continuum of Care options. So they bought a house down the road from mine — with only pictures and videos from me to go on — and moved approximately 90% of their considerable amounts of stuff with me driving their car 800+ miles with them and their dog. It was stressful.

Two harrowing years later, my dad passed away. My mom has been living in the house alone for more than a year now. Her mobility is declining and she no longer drives. I have been visiting her 3X per week to help her for 3+ years but realistically, I know her needs are going to increase to the point where she needs more than I can give. I do love her a lot. But I have a job, a husband, a grown kid, my own life. There are trips that I want to take before I get too old myself.

My point is, try to envision what life is likely to hand you two years, five years, ten years down the line. Your sons also. Make your plans with this in mind. Not just with what you need and want today.

good luck and best wishes.
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Reply to Suzy23
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I moved my parents from FL to Colo to be close to me in 2011 after dad couldn't drive anymore. I found them an Independent Senior Living apartment to rent for a few yrs until they required Assisted Living. Then mom eventually needed Memory Care Assisted Living for 3 yrs until she died in 2022. I recommend you rent a senior apartment in Independent Senior Living, preferably with the option to move into Assisted Living if or when the need arises. Trying to sell a home you own is difficult, stressful and ties up your cash during a time you should be flexible and ready for change due to potential health issues arising.
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Reply to lealonnie1
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KNance72 Sep 10, 2025
excellent advice
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My name is David I am 88 yrs old. Right now I am confined in a nursing home and I dont know when I'm to be discharged. I was evicted from my apt last August. I h fallen twice bef0re on their property . This time I had no recollection of it for about a week,and then I was evicted
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Reply to Baron1
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KNance72 Sep 10, 2025
Ask a question David .
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See 1 more reply
the big question is...
Why do they want you to pick up your lives and move closer to them?
Do you need help?
If so are they going to help? (don't count on it!!)
Are they afraid that if something happens they are the ones that are going to have to lose time from work and get on a plane and fly down to do whatever they have to do?
I can tell you that if they are needed in an emergency most communications can be done over the phone until they get there and if they do get there what are they going to do, what can they do? Not much really. Although it is comforting to have family near in a crisis...if they are ones that are level headed.

What they might feel better about is if you were in an Assisted Living community where you are now.
That way you have help if you need it or want it.
You have people around you for socialization, there are activities, meals each day, the ability to take trips if they have them, they provide transportation to stores, medical appointments. Many communities have other levels of care if you ever need that.
Also have all your paperwork done so that someone is appointed POA for Health, Finances. Have your Health Care wishes out lined and make sure that your POA for Health is fully aware of your wishes and they agree with them.
Do not appoint someone that will have a problem with any of your wishes. (If your son "Joe" has a soft heart and wants to do everything to keep you alive he would be the wrong person to chose if your wishes are no extra measures are to be done)
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Reply to Grandma1954
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I knew a couple who moved hundreds of miles to be closer to their sons because the sons said, "You should move closer to us." Sons did not help the parents more after the move. Parents might have been happier staying in their long-time community.
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Reply to Rosered6
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Aside from this being a financial planning/investment question, please consider if one or both of your children are your PoAs, do not expect them to also be the ones to provide hands-on caregiving to you. It would be more practical for you to move closer to them if they are your PoA.

Wherever you wind up wanting to live, look into continuum of care communities so that as you lose abilities you are right where you'd need to be to receive more and more help, rather than burning out your children who will need to orbit around you more and more. "Aging in place" (in your home) is over-romanticized and often difficult and expense to live out.

Have mercy on your kids and do what works best for them if they are going to be involved in any way.
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Reply to Geaton777
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Do you and your husband actually want to move? Would you be happy to uproot yourselves and deal with the more challenging winters and other changes, including possibly a higher cost of living?
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Reply to MG8522
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There are a lot of variables here . How much money you have , the cost of rent vs buying. You should talk to an eldercare attorney familiar with Medicaid in New Jersey for advice .
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Reply to waytomisery
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