Funding was getting tighter and people were coming into rest homes later than when she first took over. The financial squeeze became too much this year.
"We had deaths but very few admissions over the last six months. We probably should've closed six months ago - but, knowing the system, we hung in knowing it could've changed next week."
There were 14 residents when Mrs Meade pulled the pin last month with residents moving out by December 18.
"There were a few sleepless nights but when I did, I felt good about making the call," she said. "It's sad for the families ... knowing that our dear residents had to go and start new. And sad for the staff too."
The closure leaves Bulls without a rest home and Edale in Marton the only one in Rangitikei district.
"That's the saddest part," Mrs Meade said. "All those Bulls people have to leave."
But she feels comfortable it was the right call. "We were kidding ourselves that it was going to change."
The residents have been rehomed mainly in Whanganui and Feilding. Mrs Meade said most of the 23 staff had found other work after she put a call out to nearby providers through Eldernet.
"They held positions open for Lancewood staff, and just about all of them have a job."
Mrs Meade was not sure what her next role would be but was retiring from elder care.
"We need money and we need respect for what we do in this industry," she said. "We had a really special place here ... it's very sad."