Reply to Elderly in-laws refuse to sell house that needs $200k of work, are out of money, can’t get loan

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Reply to "Elderly in-laws refuse to sell house that needs $200k of work, are out of money, can’t get loan"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Has anyone actually identified this new “safer place to live”?  If the expectation is that your in laws will sell their home without any idea what the future options might be, I don’t think that’s realistic, or healthy, or kind.  Perhaps some in — or outside of — the family could take the step of identifying for them what their wish lists and non-negotiables might be — should they leave their home, and identify a few options that might meet these criteria. This might be a long and laborious process, but it probably will be anyway.  If they can see some positive aspects related to moving , that might help a bit. [/quote]

Thank you. This is a very thoughtful comment. Yes, we have spent time looking at other properties in the same small town they live in and have found several really great options. Their area has not been too severely impacted by the real estate crisis; you can get a 2500 square-foot one level new construction house for under $300,000. They could even continue to have water access with a home in the range of $400,000.[/quote]

It sounds like at their ages and stages, assisted living with a memory care option might be best. If they buy a new home they might have to sell it again really soon.[/quote]

This was my thought. I'd abandon plans for an intermediate house and start checking out assisted living and memory care so that if/when there's a crisis, you have options in mind.[/quote]

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