Moving Elderly Parents Into Your Home
10 Factors to Consider Before Moving Elderly Parents In
The benefits and drawbacks of moving someone in with you
If you decide to move a parent or other relative in with you, you won't be alone: One out of every four caregivers lives with the elderly or disabled relative he or she cares for. This arrangement can have many positives. If your parent or other loved one is still relatively healthy, he may be able to babysit or otherwise help around the house, contribute financially, and get to know your children in a way that would never be possible with only occasional visits.
But it's not right for everyone. It may be cheaper than putting the person in a nursing home (which costs about $60,000 per year on average) or an assisted living facility (about $30,000 per year on average), but you could pay a heavy price in terms of time, stress, fatigue, and strained relations.
Take the time to consider the following 10 questions when deciding whether to have someone live with you.