How Are Dad’s Living Arrangements Measuring Up?

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420x316-grad-lee Dee Lee
Dee Lee is a Certified Financial Planner who received a diploma in...
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BOSTON (CBS) – Do you think Dad would benefit moving? Is he having trouble maintaining his home?  Is the garden over run with weeds? Are stairs becoming a problem?

Does Dad think he may need a different living arrangement? If he does you are golden for it is then easy to get his buy-in for you to help.

Multigenerational living* is becoming mainstream again. There has been a 70% increase in the past decade of parents moving in with the kids.

Do you add an apartment to your home for him? Do you move in with Dad because his house is bigger than yours?

Can his present housing be adapted so that Dad can stay there? Are there services provided through the local Area Agency on Aging that can help Dad stay in his home.

Can you hire someone to mow the lawn and shovel the snow? Does the house need some remodeling such as adding a bathroom and bedroom downstairs that would make it one floor living for Dad?

Does Dad add an apartment to his house so someone can live there and periodically look in on him in exchange for cheaper rent? Does someone move in with him?

If that fails there are other housing options out there; Assisted Living, Independent Living Facilities or Continuing Care Retirement Communities. These are not nursing home facilities but places where Dad can live independently with his stuff and get help and meals as needed. Where do his friends or siblings live? Would he want to be near them?

According to Genworth Financial’s 2013 Elder Care Survey, the average cost of an Assisted Living facility nationwide is close to $41,000. In Massachusetts it’s close $60,000.

Start your search with the Eldercare Locator to find assistance here in Massachusetts as well as anywhere in the country. Their website lists information on services and programs in Massachusetts for elders. There phone number is 800-677-1116.

Check Eldercare Link for other options around the country.

*Census Bureau: as of 2010, 4.4 million U.S. homes held 3 generations or more under one roof.

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You can hear Dee Lee’s expert financial advice on WBZ NewsRadio 1030 each weekday at 1:55 p.m., 3:55 p.m., and 7:55 p.m.

Subscribe to Dee’s Money Matters newsletter here.

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