Many people inherit homes from their family members who have passed and left them in the will. If you are one of those home inheritors, you will have to decide how you want to proceed with your new property. You may want to move in and familiarize yourself with it. Alternatively, you may wish to offer the home for sale. Your reason for considering selling the property may be one of the following five reasons:
Selling Your Parent’s Home for Cash to Pay for Care
Alzheimer’s disease cannot be prevented, cured or even slowed down. Unfortunately, this disease can present you with many problems if your parent is diagnosed with it. You are given the task of finding suitable accommodations and care for your loved one, while also facing the reality of what such treatment and housing will cost. If one or both of your parents are incapacitated due to Alzheimer’s disease or dementia, you may find that you have to sell their home. This prevents you from having to carry the cost of a home they are no longer able to live in on their own, while also freeing up cash that allows you to pay for the care they need while in a nursing home, assisted living facility or an at-home care provider in your home.