Things to Look For When Exploring Options for Senior Living

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How to Finance Options for Senior Assisted Living Facilities

Everyone imagines their golden years as a time of freedom and relaxation. The reality is sometimes different. With an aging body, it can be hard to keep up with the day to day chores and tasks. Struggling through things like doing your dishes or mowing your lawn can leave you with no energy for any of the things you really enjoy. This can get in the way of enjoying your life as you imagined.

Senior assisted living facilities can help you get that sense of freedom back. Assisted living facilities organize social events, prepare meals, do your housekeeping, and more. You might be surprised at the long list of perks that being in an assisted living facility can offer. It might be hard to believe at first, but many residents wish they had transitioned to a facility sooner!

But one of the major hurdles you might be facing when deciding to move to senior assisted living facilities is financial. How do you get to enjoy your golden years if you can't afford it?

If you have been researching senior assisted living communities already, then you might know the usual suggestions. Two of the most common ideas are selling your home and applying for benefits like Veteran's Aid & Attendance.

These are great ideas, but there are some drawbacks. The real estate market is not entirely predictable, and the value of your house can change depending on market forces beyond your control. Your benefits application can be complicated, depending on your circumstances. It also takes months to get the application approved, and your funding started. So what other options are there?

Financial Resources from Elderlife

A great option is to work with a company that specializes in helping seniors move to senior assisted living facilities. Elderlife provides information, guidance, and solutions to seniors and their families. They can help you figure out how to finance your stay in an assisted living community or other types of retirement communities.

At Elderlife, you can discuss your specific needs about senior assisted living facilities with a personal guide. They can answer your questions and create a solution based on what's best for your budget and lifestyle. They can make a custom plan to finance your golden years at a senior assisted living community. Your personal guide will work with you until you are comfortable in your new home.

Temporary Line of Credit

If you need help with everyday living or need memory care services, it can be hard to wait until your finances are perfectly sorted out. It was also impractical to wait if your need is immediate and urgent. You could be waiting for months to process applications and benefits or to find the right buyer. In these cases, it might be worthwhile to look into a line of credit.

A line of credit can be a temporary tool that enables you to move while your home sale is being finalized or waiting for benefits to kick in. The Elderlife Bridge Loan is a line of credit to cover these short-term costs of relocation. A simple application allows you to manage your expenses. Your monthly payments would be manageable interest-only payments.

After your benefits come in or your home sells, you can pay off the loan in full and continue to enjoy your life at your new senior assisted living facilities home.

Elderlife works with senior assisted living communities for the financial help the residents need. You can receive some money as quickly as 24 hours to get your moving process started. This cuts down on the months of waiting and the possibility of losing space at your preferred facility.

Real Estate Experts that Work with Seniors

Selling a home can be stressful under the best of circumstances. But when selling your home is vital to funding your move, you should work with real estate experts that understand what you're going through.

Elderlife has real estate services designed to help seniors through the process of selling their homes. They can help you avoid unnecessary costs and get the most out of your home sale. From preparing the house to sell, staging it or packing and moving, Elderlife has resources to help you with it all.

Elderlife real estate agents are experts in their field and knowledgeable about senior living. As expert realtors, they are in touch with the local market. They are even happy to work with distant family members assisting in the home sale process.

Move into Senior Assisted Living Facilities By Connecting With Benefits

Elderlife can even help you figure out what benefits to apply for and walk you through the process so you can confidently make your decisions.

Elder life can connect veterans to accredited VA agents. The agents guide veterans through the benefits application process. They can even get short-term solutions until the benefits come through. If you have long-term care or life insurance, Eldercare can help you leverage these financial instruments to pay for senior assisted living facilities.

Elderlife is an excellent resource for seniors trying to figure out financial solutions for assisted living communities. They can help you achieve the senior living that you desire. A senior assisted living community is not out of your reach. Using services like Elderlife, you can create a custom plan on how to afford the golden years of your dreams.

What resources are you planning on using to finance your golden years? Contact us to see how we can fit into your plans.