While it is true that moving an aging parent in with you can cost more than you might expect, it is likely to be nowhere near the cost of a nursing home or assisted living facility. A recent survey calculated that the cost of a private room in a nursing home is approximately $100,000 per year. In light of this, many families are opting to have their elderly loved one move in with them. . And, at the end of the day, you may be surprised how fulfilling an experience it is.
For some aging parents, moving into their child’s home is the right move. If your parent requires a great deal of care, respite or companion services mean that you won’t have to do everything yourself.
The decision to move a parent in with you is not to be taken lightly. It is important to be honest with yourself on the impact such a move may have on you and your family.
Many people wait until their parent is sick or unable to live alone before moving them in to their home. However, multigenerational living has many benefits and most who do it are glad that they did.
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