moving in with mom

Discussion in 'General Health & Wellness' started by smmilleraz, Jul 31, 2009.

  1. smmilleraz

    smmilleraz New Member

    my mother was recently diagnosed with Alzheimer's and my husband and I have decided to rent out our house in AZ and move in with her in MO to support her care. The financial burden will be great on both of us, as we may not have the ability to earn in a small town nearly what we can earn in AZ.
    Is there any type of financial support or resources available to a full time caregiver living with the patient?
  2. TwoCatDoctors

    TwoCatDoctors New Member

    I live in Arizona and my buddy and her husband have a few fix-up homes in Arizona that she had as investments. When the market fell, she couldn't sell and decided to rent. When renting, she was shooting for the highest level of renter as possible so she "staged" the homes with furniture brought in. I don't know whether a company helped her with that, but I understand there are companies that will help you "stage" a home with furniture, lamps, etc. to give it a fantastic and professional interior decorator look.

    Anyway, she succeeded in getting in mostly good clientele to rent and only had one problem. He was a young man that created problems that had neighbors complaining and then he stopped paying the rent. She had to pay to have him evicted.

    Also, I believe she does arrange for "in-home inspections" to have pipes under the sinks looked at, to have the toilet looked at (as leaks can damage a home).

    Some other things are that your homeowners insurance may double because you have a renter in there--so consider that in advance. And don't even think about stopping homeowner's insurance because you have to protect your belongings (your home and appliances, and everything you put into the home) in case of fire or flood (yes if they go away and there is a water leak from upstairs it can cause major damage to ceilings, rugs, the downstairs, etc.

    AND YOU MUST HAVE GOOD AGREEMENTS AND CHECK OUT YOUR RENTER AHEAD OF TIME. Here is a good article from AARP on when you decide to rent out your home. Please read it.

    http://bulletin.aarp.org/yourmoney/personalfinance/articles/stuck_with_a_house_rent_it.html?cmp=NLC-WBLTR-CTRL-73109-F5b