Financial Considerations For Senior Housing

Making the move to Van Mall Retirement Community, or one of the other communities in Vancouver, requires some planning ahead, especially when it comes to the financial considerations. Whatever your current financial situation is, here is some basic information about funding your move to a senior community. First, there is the more traditional path, where your move is funded with income from interest, capital gains or dividends from savings and investments. It is also an option for some people to get a line of credit on one of these accounts to pay for senior housing. Many seniors use the funds from the sale of their home to pay for senior housing. For those who are not ready to sell their home, there are home equity options that may be used for this purpose. Some people are in the position to use their life insurance policy to fund a move to a senior community. It is possible to get a life […]