Is it worth selling my house if I’m going into aged care?
ABCFor senior Australians who cannot live independently at home, residential aged care can provide accommodation, personal care and general health care. This can help pay for the rental-style daily cost and ongoing fees of aged care you might have a special sentimental attachment to your family house. So keeping it might be a less confronting option keeping an expensive family house will not heavily impact your residential aged care cost. So you might get less aged pension you might need to pay income tax on the rental income compared to the lump sum payment, choosing the rental-style daily cost means you will end up paying more you are subject to a changing rental market. Pros like option 1, you can keep your house and have a steady income the amount of lump sum deposit will not be counted as an asset in the pension means test.
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