Should You Sell a Parent’s Home before They Move to Assisted Living?

We all know moving has its challenges but it can be especially difficult when it is prudent for an elderly person to change their living situation. Many times a move to assisted living is triggered by an emergency medical event such as an injury due to a fall or a substantial decline in the person’s health. The senior may not only feel threatened by the change in their health and lifestyle but leaving a home they may have lived in for decades. 

Often families are faced with a decision of whether to sell the home before the parent moves or to wait until after they have left and are settled into their new community. Since a person’s home is typically their biggest asset, one thing to consider is if they will need the proceeds from the sale to help finance their home? 

However experts caution selling an occupied house can be tricky as you want potential buyers to view the home in the best light. It should be free of clutter and personal belongings, which makes keeping it ready for unexpected showings difficult. 

Selling a home without an occupant allows you to have it showcase ready at all times. If need be, hire a company to come in and stage it. Most importantly, it is a lot easier on mom or dad to not have the added stress of strangers coming in and looking at their beloved home with a critical eye. If proceeds from the home are needed to fund their move, many experts recommend taking out a bridge loan on the money expected from the sale.    

South Denver’s newest senior living community is a few blocks from the iconic Observatory Park. MorningStar at Observatory Park is a contemporary 5-story building offering 60 assisted living suites in a variety of configurations and floorplans. For seniors with Alzheimer’s or another form of dementia, our distinct Reflections Neighborhood provides the safety, security, people and programs to help preserve the individual’s dignity and self-worth. We open to residents in the last quarter of 2022 and look forward to helping you reserve a select suite today. Please ask about our Move-in Specials.