SA Footy

Can anyone tell me why when an elderly person sells their house with the intent of moving into a nursing home, they take 75% of the sale of the house AND charge you weekly rent ?

Answer's simple.
Money.

Wedgie wrote:Answer's simple.
Money.

I'm understand the weekly rent and the fact they also take about 75% of the weekly pension, but 75% of the sale of your house???????
I can't work that one out.

How can they justify taking say $300,000 off an 85 year old ?
He aint going to cost them that much on top of his weekly payments for the rest of his life.

I believe its put into an account for interest purposes.

How much do you think 24 hour fully medical care costs?

All meals provided.

A chef, dietition, and many ancillery staff are required.

Laundry staff, cleaning staff, catering staff, medical staff, the list goes on and on my friend.

Security and maintenance.

Nothing to worry about.

High care or Low care Smithy...?

High care may need 2 qualified staff to bathe you and toilet you..?

Maybe feed you..?



Not even to mention that these staff are all grossly underpaid.

In the Future your multi million dollar super will pay for it....



An Industry that the Government FORGOT..! We don't sell cars..!

What they are allowed to charge is regulated by the federal government.

In the recent case in my family in SA we had to put up a $150,000 bond, which was just under 80% of what was recovered on the retirement village unit - only problem - we had to put up the bond before the unit was sold. The nursing home could use the interest and a percentage of the capital on a monthly basis - after the death 4 years later the estate got $128,000 back. On top of that it cost about $2000/month because the total assetts exceeded the meagre means test set by the federal government.

On the other hand she only got into a decent location so quickly, because we had a private Social Worker ring around mentioning she would be paying the maximum rate, which got her jumped up the queue. We resorted to that because the retirement village wanted to exercise the clause that would let them throw her out before she burned down the unit, and we were trying to manage the situation from interstate.

Getting a placement at all seems to be a lot harder in Victoria, as we found when we checked that option out.

Always remember be nice to your kids they get to choose your Nursing Home.

Is that where Timmy is going ?