You're wondering if your parents' home is too big for them. You worry that the maintenance and cost of owning that home is too much. You know they don't want to move, but if the bought something smaller and more manageable, you think they'd have a better quality of life. Here are things you should weigh when you and your parents talk about downsizing.
What Are Their Goals in Retirement?
Do your parents plan to travel every now and then? Do they plan to relax around the house and catch up on reading, watching movies, or favorite hobbies? How much time do they want to invest each week to things like yard work and home maintenance?
Do They Need a House That Big?
If you and any siblings live nearby, it's very unlikely your parents would need extra bedrooms when you visit. If it's just your parents using one bedroom and another two or three bedrooms sit empty year round, it's worthwhile to look into finding something smaller. A smaller home would take less time keeping clean and heating and cooling costs would be lower.
How big is your mom and dad's yard? If they're in a home that's surrounded by acres of land, mowing and landscaping can take hours every week. Your parents may not want to invest that much time in yard work.
Weigh the Retirement Income Against Household Expenses
Are your parents spending more on a larger home? Take a look at the costs of heating/AC, property taxes, electricity, sewer, and water. Are those bills using up all of your parents' monthly retirement income? With a smaller home, costs for heating and cooling, property taxes, and electricity might be substantially lower. Your parents might end up having money left over for entertainment, vacations, and dining out.
The Expense of Aging in Place
There's another good reason to cut monthly expenses. Your mom and dad may need some help around the home. While you may want to be there helping them with laundry and housework, you have your own responsibilities at home and at work. By freeing up some money, home care is possible.
It's important to weigh the pros and cons to moving out of the family home and into something smaller. Your parents may not want to and that's fine. If they are struggling to keep up with bills and maintenance that come with a larger home, however, downsizing makes sense. Once they're settled in their new home, call a home care agency to arrange services.
If you or an aging loved one are considering hiring home care services in Stone Mountain, GA, please contact the caring staff at Home Helpers, call (678) 430-8511.