Caring for Aging Parents: Alternatives to Pricey Retirement Homes

Kids: Make room for your parents at home. Remodel the basement. Convert the garage into another bedroom. Or simply plan ahead now and buy a bigger house than you need. Ever notice how big houses were in the 19^th century? In the old days, it was not unusual to have multiple generations under one roof. In fact, in many households, grandparents had an important and useful role in the family. Today, Many people are embarrassed by the elderly. Be proud and embrace your senile relatives!

Living with your parents doesn't have to be a nightmare. Just make sure you have enough space for privacy. My next house will have either an in-law suite or a separate cottage. (Make sure the space is easily accessible.) In my opinion, it's never too early to consider a house that can accommodate Mom and Dad. You can always make use of the room by renting it out.

Buy the house next door and hire private care services.

Why pay over four thousand ($4,000) dollars a month on a small apartment in a retirement home, when you can purchase the house next door? Most mortgage payments are considerably cheaper than rent at a retirement community. Put money toward an investment and give your parents a true sense of independence. If your parents need extra care, hire nurses and housekeepers as needed. Of course there may be a time when they require full-time assisted living. But until then, nothing beats living in your own house.

Move your parents to college, Mexico, or book them on a cruise ship!

Seniors miss their cars. They miss being able to come and go as they please. Subsequently, there is an increasing trend of seniors moving to large cities so they can take advantage of public transportation. It makes sense for driving impaired seniors to choose an urban setting. living in the heart of a metropolitan area means you don't need a car, plus there are many things to do and see.

If your parents have an active mind, think about getting them a dorm on a college campus. That's right, some colleges are now catering to seniors and even offering free classes and discounts on amenities such as golf and tennis. Research shows that mental activity may prevent dementia. So, for those considering an institution, they may as well choose a college or university.

Retiring abroad may be an appealing choice for seniors who are looking to stretch their dollars. Look at places like Mexico. In fact, many retirement homes in Mexico now cater to Americans. Of course you don't get to see them as often. But look at it this way, you'd have a cool place to visit. Some seniors have made news for choosing to live their golden years on a cruise ship. Including all the amenities provided, it actually worked out the same amount of money as assisted living!