You need care but you can still choose where you would like to live
Consider all of the options before making a decision. You may be able to continue to live at home with some care visits and adaptations; you may like the one to one care that a live in carer can provide or you may prefer the communal living offered by a care home. Whatever your needs, there are usually a range of choices.
A Care home
A care home may be a great choice for your care, whether your needs are 'residential' or you require nursing care. You are safe, well cared for and have access to carers 24 hours a day. If you need them, there is always someone on hand to help.
This is communal living and there will be people to talk to over mealtimes and a regular program of activities too. Many people really enjoy the life that a care home opens up .
In most cases paying for care will require the sale of any property that you own to provide the funding required, although in some cases you may wish to borrow against the value in your home. Full details of the options can be seen here.
Care at Home
Paying for a live-in carer can be a good alternative to moving into a care home whilst enabling you to benefit from the many advantages of staying in your own home.
In general, the cost of 24 hour live in care is broadly equivalent to a good quality care home. Although you will still have your housing and food costs in addition, you will be receiving one to one care tailored entirely to your needs.
If you have significant savings or investments it is likely that a care funding portfolio can be arranged with the aim of meeting your care costs for life.
If your savings are limited there may be other options open to you to fund live-in care such as borrowing money against the value of your property.
There are schemes available where you can draw down funding from your property as and when you need it. Alternatively, you may prefer to withdraw a lump sum and use it to purchase a care fees payment plan or use a mixture of options.
Everyone's situation is different and we work alongside you to ensure that you understand both the benefits and the risks of each option so that you can make an informed decision on your financial future.
Details of the financial options can be found here.