Many people have to think about how they will care for a loved one as they age. If your older relative needs your help to fulfill their needs, it may be wise to consider moving closer to them. Here are some helpful tips to help you during this potentially stressful time.
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When to Consider a New Home for Your Loved One, Too
While you may move closer to your loved one, you can make both your lives easier by being sure your relative's home is suitable. As he or she ages, it can be more challenging to keep up with the demands of owning a house. Doing yard work, maintaining a home and cleaning are all tasks that can take a considerable toll on a homeowner, especially when living alone. If these tasks become excessively difficult, it could be time to move into a new property better suited for senior living.
How to Purchase a New Home
One of the first things you’ll want to consider is how much you can afford to spend on a new home. Financial advisors will generally advise you to spend no more than 28% of your monthly income on housing costs.
Your monthly mortgage will be decided by many factors, not the least of which is your credit score. The higher your credit score, the less your interest rates will be. You’ll thus want to have the maximum possible credit score when negotiating a home mortgage, as even a few points difference can be significant. Even one-half of 1% on your interest rate can mean tens of thousands of dollars of difference over 30 years.
When negotiating a monthly mortgage, lenders will calculate your debt-to-income ratio to determine how much you can pay each month. This ratio can be calculated by adding your existing monthly debt obligations and dividing the total by your gross monthly income. There are guides online with more detailed information on how to make this calculation.
How to Make Moving as Easy as Possible
Regardless of your reasons for doing it, moving is an inherently stressful process. Luckily, there are a few ways to make the process easier by breaking it down into simpler steps.
First, create a moving checklist, which should include items like a packing plan, an inventory list of your belongings, and a budget plan. You’ll need to decide what to pack and what not to pack. You may wish to sell unused belongings in a yard sale or donate clothing and other bulky items that are impractical with which to move. Deciding on a system for labeling your boxes to minimize confusion and clutter might be a good idea. Understanding the best way to move furniture will help keep it undamaged and easier to reassemble.
Also, search Angi for furniture moving services to make a difficult task a little easier on yourself. Before hiring a service, carefully review customer feedback and ratings to choose the right professionals. Then, after you’ve moved, you’ll want to immediately change your address with the post office and set up a forwarding service for mail sent to your old address. This will ensure that any mail intended for you at your old address is sent to your new address instead.
If you look at moving as a whole process, it can easily seem overwhelming. Moving closer to your loved one is a decision you’ll want to consider carefully, but it can be done with a little know-how and organization. Be prepared for your move, and you may find that it isn’t as difficult as it first seems.
By: Sharon Wagner of seniorfriendly.info