We are about to sell our home; we expect to realize gains of about $400,000. I am 84 and will go on dialysis within the year. My husband is 82 and has begun cognitive decline. We are still able to live independently, but need help. I don't think we need assisted living quite yet.
My question is whether we should rent or buy our next living space. I think renting would make transitioning to assisted living much easier when needed. We have no other major assets and no heirs.
Or find a community that has Independent, Assisted, Memory Care and Skilled Nursing all in the same community.
If you "expect to go on dialysis within a year" you may need more help than you realize. (or want to admit)
I moved 13 years ago and the thought of packing up and moving again is out of the question. As I have told anyone that asks my next move will be when they put a tag on my toe and wheel me out feet first. I can't imagine selling my house, packing everything up and moving to a place just to move again in a year or two.
Look for a Continuing Care Community and enjoy the amenities that are available.
And having to move your husband with dementia more then just once is never recommended as people with dementia do MUCH better with routine and do not like their routine disrupted.
So I think it best that you now think long term and what's going to be best for the both of you, and my opinion is an assisted living would not only suit you both now but will also in the future.