Maintenance & Long-Term Care
Maintaining financial independence requires proactive tracking of living costs whether you relocate to a facility or age in place. Establish a routine schedule to monitor facility fee shifts or manage home preservation tasks effectively.
Annual Financial Audits: If you reside in a facility, conduct an annual review of itemized charges every January. Compare charges against your initial lease agreement to verify care tier point calculations and valid percentage increases. If you choose to age in place, audit property insurance, tax assessments, and utility expenditures annually to maintain budget accuracy.
Preventative Home Maintenance: Maintaining a modified home ensures long-term safety and protects property value. Inspect silicone sealant and grout joints in curbless showers annually to prevent water intrusion. Schedule semi-annual maintenance checks for HVAC equipment and smart entry systems. Clear outdoor access ramps and walkways of ice and debris to eliminate slip hazards.
Preserving Equity and Asset Control: Retaining ownership of your home preserves valuable real estate equity that appreciates over time. Unlike non-refundable facility fees, home capital remains under your control, giving you financial flexibility to fund in-home care if extensive assistance becomes necessary later.
