Hi, I wonder if anyone can give me some advice. My mother is a resident in a nursing home, suffering from Alzheimer's and the aftereffects of a stroke. My father has been living in their house and visiting every day. They have expressed a desire to be together and the opportunity has been presented whereby they can move into a double room in the nursing home, with a view to move to the residential (non-nursing) side of the home when mum is fit to do so.
Now the question of their property - my Dsis and I feel that it would be a good idea to rent out their property as it would give them an income whilst the value of the property increases. The alternative, ie selling the property gives them a finite pot of funds to cover their costs. (They are self funding their care). I need to understand the implications of property rental - tax implications etc. There is another possible alternative, where we buy part of the property from them and then rent it out. It does need some work doing on it to bring it up to either a rental or saleable condition. It's all happened very quickly and we will need to start sorting out the contents anyway before we can do anything. I'd just like to know who to talk to! I wondered if Citizens Advice would be a good start, plus a couple of local estate agents. Thanks for reading.
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Elderly parents
Advice please - father going into residential home to join mother. What to do with their house?
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drzeus · 26/10/2014 20:41
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