How to Move Your Parents Out

The Homeowners Show

In this episode Craig and Kevin interview Christi Finnell who does real estate specifically for aging adults. She is able to help with any real estate transaction, but she has spent time getting certified and leaning into the area of real estate that deal directly with an older population of adults that may be selling their home and moving into a retirement community, nursing home, or assisted living. Unfortunately, many people in this situation get taken advantage of and do not have the best resources available to them to make the best decision for their estate and their future. Christi walks us through some common scenarios and gives us practical advice on how you can ensure this difficult season is approached with the best care.

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Here is a draft set of shownotes for the podcast transcript:

Overview:

- Kevin discusses recent home renovations including finishing kitchen cabinets, interior painting, installing a stove hood

- Craig talks about a recent Disney trip and enjoying Raglan Road restaurant

- They bring on Christy and Sean to discuss helping elderly parents transition to senior/assisted living facilities

Key Discussion Points:

- Red flags when seniors look for a real estate agent (pushy, not wanting family involvement)

- Importance of having power of attorneys and maintaining independence for seniors

- How to fire an unsatisfactory real estate agent

- Reverse mortgages - high interest rates, tax implications

- Organizing help and services a good real estate agent should provide

- High monthly costs of assisted living facilities (~$10K/month)

- Getting maximum value when selling parents’ home to fund future care

- Realistic pricing

- Presenting all options

- Issues around squatters:

- Taking advantage of Airbnbs and not leaving

- Squatters having rights after living in a property over 30 days

- Intended to protect tenants from predatory landlords

- Acknowledging laws can now be exploited

- Features to look for when touring senior/assisted living facilities:

- Maintenance-free living

- Ranch-style homes

- Trustworthy realtors

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