Tag: Aging in place
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Pennsylvania Supports Deed Holders Who Offer Domiciliary Care for Seniors
In participating Pennsylvania counties, the Domiciliary Care Program provides safe, comfortable home living for seniors, or adults of any age from 18 up, who need help with daily living. Are you a Pennsylvania homeowner aged 21+? Would you share your home and provide daily support to someone who needs you? If so, you might qualify…
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HECM: Can It Ease a Senior’s Financial Stress?
A home equity conversion mortgage (HECM) is a lesser-known financial tool designed for seasoned deed holders. At essence, it’s a reverse mortgage. Backed by the FHA, it allows qualified seniors to reach some of their home equity while holding onto the home.
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The ADU: A Housing Fix for Seniors and Their Families
Accessory dwelling units (also known as ADUs, backyard cottages, guest homes, or granny flats) can enable seniors to enjoy privacy, yet remain close to family and neighborhood friends. They don’t depend on clearing natural spaces to develop properties. Yet they offer affordable housing options — which are ever scarcer these days. No wonder ADUs have…
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Thousands of Seniors Lose Access to Hospital-at-Home Program Due to Federal Shutdown
It’s official: the current federal shutdown is now the second longest in modern U.S. history. Every day, it seems, we hear of some new fright because of lapses in federal funding. One of these scary things is affecting seniors who’ve chosen to age in place. The National Association of REALTORS® (NAR) reports that a lapse…
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“The Senior Living Market Can’t Keep Up With Demand”: A Deed May Be the Best Senior Living Plan
In a recent issue of the CNBC Property Play newsletter, Diana Olick wrote that older adult living is “on the edge of a boom — a baby boom, to be exact.” Between today and 2030, more than 4 million baby boomers will reach the age of 80. Can active adult and assisted living properties climb…
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Seniors Say: Why We Buy, and What We Look for in Real Estate
The average age of a first-time home buyer keeps getting higher. The trend has turned into a tectonic shift. Today, it’s not the slightest bit unusual for a buyer to reach 55+ before getting that first deed. You or someone you know may be in this position, and it might help you to know you’re…
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Social Capital: What’s the Deal With Senior Co-ops?
Many people talk about living in a retirement community at some point in their post-retirement journey. But what’s out there for middle-income seniors who (a) aren’t positioned to pay a fortune for housing, and (b) don’t need constant nursing care? Some seniors, looking for a frugal and socially appealing alternative to life plan communities, opt…
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Reverse Mortgage Problems: When to Stay, and When to Walk Away
Reverse mortgages are designed for senior homeowners. They’re advertised as a super power available to longtime deed holders. The idea? When you’re low on cash, tap into your many years of equity-building. Draw financial strength from your property’s value. Sounds good, and yet pitfalls await the unwary. Reverse mortgages allow borrowing to increase, and home equity…
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The Compass Real Estate Company Is About to Open a New Division Just for Boomers
Compass is launching a new division to guide and serve senior clients. The agents who sign up will be certified by the Society of Certified Senior Advisors. Here’s the latest.
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Understanding Life Estate Deeds: Benefits and Drawbacks
It’s possible to deed your property into a co-ownership with the person who will receive your home after your life. Perhaps you plan to leave your house to an adult child, or even a friend. A life estate deed is one option. It keeps you in your home for life. After your life, your home bypasses probate,…
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Is Moving to a 55+ Community a Good Decision?
You or someone you know may be one of the generation of people aged 55+. And you might be thinking about downsizing or moving to a 55+ community. Here, we orient curious readers with the pros and cons, and go over the deed restrictions to understand before and after buying in.
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How Self-Driving Cars Could Transform the Suburbs
Self-driving cars are becoming a real thing. As they rise in popularity, they’re likely to shake up the way we move, the way we cope with age and disability, and the way things look and feel in our cities and suburbs. How? First, let’s distinguish between the actual developments and the hype in the self-driving…
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Living at Home as an Older Adult? Caring for Someone Older? Home Tech Can Help
On October 1st, Tesla revealed a model of its Tesla humanoid robot, Optimus. Some viewers think it might have retail potential, as a robotic home assistant. Tesla seems serious about the project. The company even sidelined the creation of an affordable ($25K) electric car to focus its expertise on robot technology. But Optimus is still…
