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Home Care Suites Blog

Home Care Suites Blog

Welcome to the Home Care Suites Blog, where we keep you informed of the latest trends and ideas to increase quality and lower cost for elderly care. 

Follow us on twitter @HomeCareSuites for more news and opinions.

 

Thursday, 13 September 2018 12:43

The August Issue of Furniture, Lighting and Decor Magazine features Home Care Suites cottages, which it calls, "The Suite Solution”.


The article talks about how there is a new housing alternative that many retiring boomers find appealing: granny flats or accessory dwelling units (ADUs). These backyard cottages, also sometimes referred to as tiny homes, or granny pods, offer an answer to two pressing challenges.


Alison Martin of Lighting and Decor Magazine wrote that ADUs “stand poised to solve two major housing crises in cities across the country: the struggle for more affordable housing and the eventual wave of retired and aged Baby Boomers who cannot physically live or afford to live by themselves.”


Henry Moseley Jr., founder and president of Home Care Suites started making these ADUs when his friend asked him to transform a cabana into a livable space for an aging family member. From this experience, Moseley created the custom cottage building company “designed for elderly living with a focus on accessibility.”

By 2035, one in five Americans will be over the age of 65, as well as one in three heads of house, says the Harvard Joint Center for Housing Studies. As housing and healthcare costs continue to rise, ADUs may provide a win-win-win: affordable housing in major cities, comfortable living for aging Boomers and caregiving assistance for adult children.”

While ADUs are a great option for some boomers, they are not a perfect fit for everyone. The cottages are a significant investment.   According to Carrie Shores of San Francisco Bay Area-based Larson Shores Architecture and Interiors explains, “Little houses have all the same expensive parts as a big house but don’t have the extra square feet to bring down the cost.”

“In Florida, the ADU’s cost about $200 per square foot to build. Moseley’s most popular design — a 400-square-foot ADU with a 65- to 85-square-foot porch — costs about $85,000.00"

However, compared to the cost of assisted living facilities (ALF), ADUs are more cost-effective in the long run. According to research the average cost of a one-bedroom in an ALF in the United States is between $3,500 and $4,000 per month.

Building a Home Care Suite pays for itself in just over two years of paying for a one-bedroom in an Alternative Living Facility.

There are a few ways to recoup the investment. In Florida taxpayers are able to get a waiver on their taxes if there is an elderly person living in a space on their property.

“If people think they’re building these cottages just for a parent,” Moseley says, “they’re mistaken.”   Home Care Suites residents enjoy multiple benefits from multi-generation living. Grandparents are able to spend more time with the grandkids, parents spend less time driving across town to visit mom or dad, and the cottage can be used for multiple purposes after their loved one has passed away.  

In a 2016 AARP report, it estimates that that family caregivers focused on the elderly spend about 20 percent of their annual income on costs related to caregiving. And that doesn’t even take into consideration the emotional toll.

Alison Martin said it best in her piece in Lighting and Decor Magazine:  “Greater access to affordable housing and ADUs could potentially benefit people of all ages no matter where they’re living. The tools are out there. Now it will be up to cities and communities to help future generations realize their American Dreams and let others finish theirs in dignity.”

To read the piece by Martin, click here:  https://www.furniturelightingdecor.com/suite-solution

To take a virtual tour of our most popular Home Care Suite model, The Floridian, click here.

Thursday, 06 September 2018 14:32

If you knew grandkids would be this fun, you would have had them first, right!?


It should come as no surprise that when kids spend more time with their grandparents, everyone wins. With age, comes wisdom. Our elders have a wealth of information - just waiting to share knowledge, love and skill sets with anyone, but particularly younger relatives.


Good Housekeeping Magazine wrote an article, titled, “A New Study Says Kids Need to Spend More Time With Their Grandparents -- Another thing your mom was right about!”  You can find it here.  


Studies have shown that intergenerational interaction has many benefits - it makes kids more compassionate, patient, interested in a variety of fields, and cultivates a more positive view of the elderly in general. Kids reported learning life lessons and expanding their skill set on an interpersonal level and in a more tangible way, as well.


It might also come as no surprise that Florida has the highest percentage of senior citizens than any other state. Children who recorded spending time with their grandparent/s at least once a week reported being happier and healthier.


As seniors retire and find their homes become a bit too much for them to manage anymore, a great option is a Home Care Suite. It allows grandparents to maintain their independence by still living on their own and allows them access to interact with their grandchildren. Grandparents and grandchildren are able to grow their relationship with weekly dates, as well as pass down wisdom learned from a life well lived.


Click here to learn more about Home Care Suites - backyard cottages built to keep your family close, comfortable, and independent.   

Thursday, 16 August 2018 13:55

The tiny house craze continues, with more and more people considering the idea of a tiny home on wheels.  The concept of being able to winter in the south and summer in the north is appealing.

However, there are a few important things to consider before you invest in a tiny home on wheels -- or even a tiny house on a stand-alone lot --  like, how are you going to pay for it?


How Will You Pay for Your Tiny Home?  

Recently Huffington Post did a story about financing tiny homes, we highlight several of their key points in this blog.   

Because tiny homes on wheels are mobile, they do not qualify for a traditional home mortgage.

Actually, THOWs don’t qualify for a home mortgage for a few reasons.


So, if you go to a bank and try to take a loan out for a tiny house, you may get a raised eyebrow.

Financing Options for Your Tiny House 

You might be able to get financing for your THOW with an RV loan. However, the catch here is that the THOWneeds to be certified as an RV by an organization such as the Recreational Vehicle Industry Association. This is the most cost effective type of loan, however, meeting the standards to receive an RV loan on your THOW can be a lengthy and expensive process; and may end up being not so cost effective after all.

If getting an RV loan is too much trouble, you can try taking out a personal loan. Yet, a personal loan has a higher interest rate, even with good credit.

Other things to consider for your THOW are where will you park it? As of yet, there are not many tiny home parks established like there are RV parks, and some RV parks are not welcoming to the tiny mobile homes. In most neighborhoods, it is illegal to live in a mobile home on a residential property. Think about it: what will you use for your sewer hookup?

You can read our blog about tiny homes on wheels, called “Home is where you hook up” here.    Note, since the publication of that blog post, developers in Tampa Bay have proposed to build a tiny home community in St. Petersburg, and another Tiny Home Community proposed in Ruskin, although neither development is complete.

If you are thinking of building a tiny house on a stand-alone lot -- again - we ask you to carefully consider all of the costs associated with developing a lot - putting in a driveway, paying local assessments and development fees, putting in the sewer, and connecting to electric. We itemize those costs in detail on our blog, “Before you build a tiny house on an empty lot, consider this.”

Popular Financing Methods for Home Care Suites  

We firmly believe that the most efficient and economical way to “go tiny” is to build an “accessory dwelling unit” -- essentially a detached mother-in-law suite - on a lot with an existing primary home structure.    When you tie a tiny house into the larger house, you avoid significant expenses associated with water, sewer, and electric, because you are able to connect to the existing home’s utility infrastructure.

Many of our Home Care Suites customers are looking to downsize - or “right-size” - and so they sell their existing larger home (which costs more to maintain and takes longer to clean) and invest in a Home Care Suite --  a cottage they build in the backyard of a family member - in most cases - their adult child.

Home Care Suites - which are tiny homes that are built as an accessory dwelling unit -  have several financial benefits. First - it allows the aging parent to divest their assets, and to transfer their wealth to their adult children. Second, for the adult children whose property the cottage is being built on -- because it is being built for an aging parent - it actually does not increase their property taxes.  

According to FL Statute, 193.703, there may be a reduction in the assessed value of a homestead property with construction or reconstruction of the property for the purpose of providing living quarters for parents or grandparents, so long as:
• The living quarters are provided for a person who is at least 62 years of age.
• The living quarters are provided for one or more natural or adoptive parents or grandparents.  

To Depreciate or Appreciate? 

A tiny home on wheels is going to depreciate or lose value over time. Our Home Care Suites cottages are home built on a permanent foundation, so they do not lose value and only increase the fair market value of the primary house commensurate with the cost to build or value of the cottage.

The adult child benefits because their property value goes up (In-Law Suites are a hot commodity) and they do not have any tax penalties, because according to Florida statute,  a home renovation made for an aging parent is exempt from property taxes.

We hope that you appreciate these financial considerations as you continue on your journey to “go tiny.” 

Areas Served

Home Care Suites are an affordable alternative to an assisted living facility in the greater Tampa Bay area.
Home Care Suites serves the Central Florida Market including Tampa,  St. Petersburg, Clearwater, Palm Harbor, Largo, Dunedin, Seffner, Lakeland, Land O Lakes, New Port Richey, Riverview, Plant City, Town N Country, Spring Hill, Zephyrhills, Dade City, Clermont, Brooksville, Apopka, St. Cloud, Haines City, Winter Haven, Lake Wales & more.

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