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Just an idea where to look if you are looking to hire privately. Be willing to work around class schedules if you truly like the ones you hire this way.
Live-in help is fine if the person needs some help, but for someone with memory and mobility issues [as per your profile], that's a lot to put onto just one person. You will find that caregiver will burn out quickly, and you are back to square one looking for someone new.
My Dad found it was more affordable for him to sell his home and move into senior living, as it was costing him $20k per month [cost in my area] to have the caregivers at home, and with senior living the cost was closer to $6k per month.
Dad really enjoyed senior living, loved being around people of his own age group, and he was quite pleased with the restaurant style menu meals :)
Just another option to think about.
You should also check with your insurance company and ask about Workers comp. If a caregiver is injured doing their job it could be a disaster.
Also taxes should be taken out, income reported so the caregiver gets credit for Social Security.
Background checks are important, references are important as well.
If you are going to need someone 24/7 there are limits as to how long a person can work and the breaks they must be given.
Also hiring more than 1 person is a good idea so you have a back up in case one can not be there for any reason. And you should instruct caregivers that they are not to come to work if they are ill.
In many respects it is easier to hire through an agency so they have taken care of all the paperwork, insurance and they have back ups if a caregiver does not show or is ill.
In some respects it is less expensive to hire privately but there is the paperwork that is involved.
And there are other options that are sort of in between the two, a company like Care.com is like a "go between" but again you need to do all the "legal" stuff...