Have a question? Ask us now!

Connect with us

Get in touch with our Managers to inquire about our homes, schedule a tour, or just say hello.

Janice Swanner

Janice Swanner, BSN, CHPN

Operational Director
North Scottsdale Assisted Living North Scottsdale
Central Scottsdale Assisted Living Scottsdale Ranch
Phoenix Assisted Living 19th Pl. #1
Phoenix Assisted Living 19th Pl. #2
(480) 605-4002

Brian Newton

Assistant Manager of Operations

Blog

Using the Family Home as an Investment

senior couple outside the community

As we reach a more advanced age in our life, our priorities start shifting, and financial considerations are not an exception. We start feeling ready to downsize our abode, while on the other hand, health care expenses often start increasing. One way to reconcile these two needs is to use your primary residence as an investment and revenue generator. Selling your house is not the only option, as financial advisors often suggest that renting it can provide several additional benefits. This option is also taxed favorably, while it lets you still keep the connection to the house you are emotionally attached to.

Key Takeaways:

  • Think about the financial benefits that come with renting your home, as you can make money while also keeping your investment.
  • Property owners can hire someone to manage the rental or handle everything themselves.
  • You can calculate if renting your home will cover your care costs simply by figuring out the median cost of assisted living vs. independent living, etc.

“Though selling a home is among the most common approaches to financing senior care, using the home as an investment property — or renting it out for short-term or long-term stays — stands out as a growing and beneficial alternative.”

Read more: https://www.aplaceformom.com/caregiver-resources/articles/avoid-selling-home-pay-for-care?fbclid=IwAR0zHtz8Pd152XsKJVK8gUQJDsyCYIIiQkAodU87wBCoQeWaUx6Kt5BhB9M

Pinterest
LinkedIn

Leave a Comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Previous Post

Simple Blood Test Can Accurately Reveal Underlying Neurodegeneration (Dementia, ALS)

Next Post

Is Assisted Living Something You Can Consider for Just a Few Months?

Schedule a tour