Aging Parents in a Real Estate Crisis - From One Realtor's Perspective

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Local Realtors® in every US area can help provide a solution to the family care situation for aging parents and grandparents. A solution which is less costly than hospice, payed aids and nurses, assisted living facilities and taking care of them from a distance.

Hampton NH Home with In-Law listed by Rebecca Skane

The cost of caring for our aging parents and grandparents is soaring. Even performing the simplest of tasks to care for our own is proving to be costly

New Hampshire real estate agent Rebecca Skane believes the nation's elderly are in trouble. Although the market seems to be on the verge of a potential recovery and even the National Association of Realtors® (NAR®) is reporting an increase in home sales which has always proven to be a huge economic indicator, many of our elderly seem to be in a bit of a debacle. The foreclosure rate is still fairly high. Many elderly are being foreclosed on, simply because of economic strain placed on retirees. Aside from foreclosures, many elderly are not ready to be in a nursing home, but can't live by themselves anymore. What then?

"The cost of caring for our aging parents and grandparents is soaring. Even performing the simplest of tasks to care for our own is proving to be costly," declared Rebecca Skane, a Portsmouth, NH real estate agent. The cost of gas for running the groceries, the time out of our busy and hectic schedules (having to try and make room for cleaning their homes or taking them to doctor's appointments while still being able to take the children to soccer practice and girl scouts and have meetings with clients) - the constant strain on the conscience wondering if they are "okay". Sometimes, this is the best people can do aside from paying for full time nursing care or an assisted living facility which can cost more than a mortgage. Some elderly will fight tooth and nail before going to a facility, assuming it is a nursing home. And all we can do is continue to make sure they are eating right, have enough groceries, are healthy and keep their homes clean. The bottom line is that it takes a whole lot of time and money to care for elder family members.

A local Realtor® can offer a serious and viable solution to consider while caring for aging parents and grandparents before they need continuous hospice care. Consider buying a home with an in-law apartment. Someone may not relish the idea of living with his or her parents again, but getting used to the idea is much easier and much more practical than driving hours each week, spending the extra money on gas and groceries, losing the time out of a busy schedule and worrying on a daily basis wondering if they are okay. On top of this, most elderly will be much more receptive to the idea of moving in with family members, rather than being sent away to a home. The conversation would probably go much smoother.

Depending on the situation, it is possible to create a separate in-law apartment in an existing home if there is room. Or, one can buy a new home with an existing in-law apartment in place. A licensed Realtor® can help locate the perfect property to house an extended family. A home with an in-law apartment is one of the best options available and the least expensive, but seldom used. Take advantage of this option during this unusual buyer's market, it would be a wise decision.

Rebecca Skane is a trusted local Realtor® under Keller Williams Coastal Realty in Portsmouth, NH. She can be reached at SkaneRealEstate.Com. Ms. Skane aids buyers and sellers of residential and commercial real estate in seacoast New Hampshire and Maine, and also deals with extended family homes.


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