The family home
When you have lived in your home for many years it may become an accepted part of life and something you take for granted. Everyone’s circumstances are different but now could be a good time to think about its suitability for the future.
Depending on individual health considerations and the nature of your home, some questions which may come to mind are:
- If it is a large home with substantial land, will maintenance be a future problem?
- If there is a possibility you may be handicapped, will you need modifications?
- Is the location convenient to medical facilities, family and other amenities?
If you have a large home there be financial benefits in downsizing and releasing some of the money you have invested.
Financial considerations also may be a negative factor in moving. When you sell a property there are usually agents and legal fees. When buying a new property you have to take into account stamp duty, legal fees, moving costs and the cost of fitting out such items as window and floor coverings.
The total cost of selling one property and buying another may well run to tens of thousands of dollars.
If you need modifications to your home as a result of your illness, you should seek advice from your treatment centre or contact the Department of Social Services – 1300 653 227.