Do I Have to Sell My House?

Not necessarily.

It depends on whether your spouse or someone receiving a carers allowance lives in the house. In that instance, your family home is not considered in your assets assessment.

It also depends on the type of fee structure you choose to have. This can be a:

Refundable Accommodation Deposit (or RAD), as it is now known today. This is the lump sum you need to pay to the nursing home when you enter care.

The other option is to make regular monthly payments (known as a Daily Accommodation Payment (DAP). To use this method of payment, you need to have sufficient cash flow each month to make the payments.