Many seniors who were planning on selling their homes or condos to move to an Assisted Living Community are now finding they must stay at home a little longer. As home sales have slowed dramatically, these seniors are unalbe to sell their homes. Yesterday's New York Times story interviews a few different seniors who have received a refund of their down payment back from a retirement community as their homes simply are not selling.
The slowing economy is impacting all of us but for seniors who may need more care, selling their home to move is much more a need than a want.
Alternatives to moving include hiring a Senior Home Care Agency to assist with care part-time. And, if a senior is a veteran, they may qualify for the Veteran's Aid and Attendance benefit which will pay for a caregiver to assist the senior in the home part-time. We provide information on qualifying for this benefit along with the Veteran's Aid and Attendance application on Caregiverlist.
The good news is, with occupancy down at many Assisted Living Communities, they are more willing to negotiate pricing - just remember to ask. You may also want to track the stock of some of the Assisted Living Communities to learn more about the corporations and their financial health.
Some of the Assisted Living Corporations and their stock symbols are:
Sunrise Assisted Living SRZ
Assisted Living Concepts ALC
Brookdale Senior Living BKD
Emeritus Corporation ESC