Do I have to sell the home?
NO, you never have to sell your home if you don’t want to. Nobody can force you to sell your home.
Although once you see the financial outcome of various alternatives you may choose to sell your home. However, at Balance Aged Care Specialists we believe if you want to keep your home, you should be able to & we will find a way that will make it work for you. There may be consequences of that decision, but that is what life is all about- understanding the consequences of various choices then making a decision that meets your needs.
We have seen people where the family are happy to get less from their inheritance, just so that Mum or Dad can keep their home whilst they are alive, therefore getting less inheritance may be a consequence, & if you are prepared to accept that, then you could keep the home.
Or keeping the home may require borrowing money or selling that block of land or holiday home. Alternatively, to keep the home, you may consider finding a cheaper facility
I.e. getting a good understanding of what other choices are available, just might work for you, & allow you to keep the home.
Mind you there are some people who do a full “360” & after seeing the consequences decide to sell their home after all.
At the end of the day, we don’t care what you choose to do, but what we DO care about is, is that you understand the consequences of different decide that you are happy with, which delivers the best possible outcome to meet your needs