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Personal Finance Options for Those Who Need to Adapt Their Home for Health Reasons

Where it’s old age, illness, or disability, sometimes we need support at home to get us through the day.

However, adapting a home for health care reasons won’t come cheap if you’re paying for it out of your pocket. Luckily, there are numerous different ways you can seek funding for such changes.

Throughout this article, we will present to you four different funding strategies that can help you alter your home for any healthcare needs.

1. Self-Funded Adaptions

For those of you who have high-paid jobs or a wealth of savings to draw from, you are unlikely to be accepted for grants and funding.

However, that doesn’t mean you still can’t find help when it comes to making home adaptions and sourcing medical equipment from affordable professionals like medical-supermarket.com. You can consider taking out a personal loan.

Lenders can typically offer up to £5000 over three years. Taking out an unsecured personal loan will be cheaper than spending on a credit card.

Further, you ask for the support of your family either as a loan or a gift.

However they do it, they should seek legal advice on how to gift assets.

2. Home Improvement Agencies

Home Improvement Agencies are non-profit organizations often funded by the government or local authority. They aim to support low-income families to make adaptions and improve their lifestyles. If you require support and advice on how to go about adapting your home, they’re the people to be asking. There will be costs associated with using a Home Improvement Agency; however, the rate that you are offered can save you an enormous sum on large projects. The investment would be worthwhile because they can help you liaise with builders and avoid being ripped off.

3. Disabled Facilities Grant

The Disabled Facilities Grant (DFG) is a sum of money that is gifted to disabled people to fund alterations. However, there is an application process and you have to meet specific parameters to be eligible. In England, the total potential amount of money is £30,000 – with different amounts in other areas of the UK. Anyone over the age of 18 can apply for a means-tested DFG. Each authority has its measures to determine acceptance, but in all instances, the first £6000 in savings is exempt from the testing process.

4. Financial Assistance

As well as the DGF, each local authority has its fund for adaptions. For example, those in England who need minor adaptions of less than £1000 could be offered fittings free of charge. For anything above £1000, you will need to refer to the DFG guidelines.

Making home adaptions can become a necessity in anyone’s life at any time. Paying for the changes can be extremely expensive and knowing what your options are is extremely comforting. No matter what changes you need to do, you will be supported by your government and local authority, so try to relax and contact the relevant bodies to get the ball rolling.

Ajeet Sharma, the founder of Financegab and a well-known name in the field of financial blogging. Blogging since 2017, he has the expertise and excellent knowledge about personal finance. Financegab is all about personal finance which aims to create awareness among people about personal finance and help them to make smart, well-informed financial decisions.


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