There is a better option for the care of relatives.

There is a better option for the care of relatives.

It would seem that no matter how carefully relatives check a care home for their loved ones, there is a real risk of upheaval.

A recent BBC programme uncovered figures which show that a quarter of UK care homes are at risk of closure within three years.

Their report says that some 5,000 care homes are at risk due to the debts they carry and low profits which do not cover loan repayments.

When such closures occur, residents are separated from the new friends they have made, additionally the stress of re-location – if an alternative can be found – is itself extremely damaging to their health.

So what is the alternative?

Well it is not available for everyone, this has to be recognised, but where finances permit, care can be provided within the person’s own home.

This can be through a live-in carer, or full or part-time visiting carer.

The advantages are enormous. The person does not have to move from their own home, stays close to friends and in the neighbourhood they  have come to know and love.

How difficult is this is arrange?

It can be simplicity itself. Here at The Graham Agency, we have been providing a range of domestic and household staff for close to 30 years.

So how can such care be funded?

Parents maybe able to fund the cost out of their own resources, from either, savings, income, pensions or life insurance payment.

There are options available from specialised insurance companies which can offer either a care provision plan for a one-off payment providing a monthly income. Parents can also take out what is effectively a loan against the value of their home, while they continue to live in it. Either way, dreams of being able to stay in their own home while having the security of live-in support can become a reality.

Costs of proving a carer compare favourably with the cost of residential care. In London and the Home Counties for example, typical residential care could well cost £78,000 per year. Against this, The Graham Agency can provide a carer, whose annual salary costs would be in the region of £45,000 pa. That is a difference of £33,000 per annum compared with an approximate annual residential care cost of £78,000.

These cost differences are huge and residential care eats into estates at an alarming rate, even for those with a sizeable estate on which to rely. Of course, live-in care costs will also rise, but proportionately and will always be less than residential care.

For those involved, however, it is the emotional aspect of retained independence and the comfort and psychological security of remaining in one’s own home that is beyond price.

Before you act, come and talk to us at The Graham Agency.