Negatequity
Registered User
- Messages
- 7
The facts:
Widowed Mum early 80s considering entering nursing home in Dublin with next 6-12 months. |
Assets: Principal Private Residence (PPR) 600k, half share in Investment property 180k, savings 120k, annual income 12k pension + 7k rental =19k |
Any suggestions how to best handle the PPR? |
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From the fair deal website: " If you have already been in a nursing home for 3 years when you apply for the scheme, then you do not pay the 7.5% on your principal residence." |
It seems the cost of a home paying directly (60k but tbc) might be lower than the eur 80k cost of fairdeal for years 1,2 and 3. Would it make sense to enter a home pay directly and once the savings have run low switch to the fair deal? In this scenario we would pay say 60k year 1, 2, year 80k in year 3 and dropping to 40k in latter years. In theory a saving of 40k over the first 2 years. |