Tag: senior housing
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What If a Power of Attorney Fails to Maintain the Real Estate?
Linda lives in a memory care unit. Her former home, just a mile away, has been vacant for more than three years. Just before she moved to the assisted living site, she signed legal power over her affairs to her sister Gerry. Gerry lives out of state, and rarely has time to visit Linda. A…
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When Assisted Living Is the Way Forward: Protecting a Home for the Community Spouse
What happens when one spouse moves into assisted living, and the other spouse stays in the couple’s home? The official word used to describe the spouse living at home is community spouse. That’s the spouse who lives “in the community” while the other enters assisted living. The spouse in assisted living may need to tap…
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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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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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Seniors Make Moves to Beat the Rush for Retirement Housing
And here they come… The most senior boomers will celebrate their 80th birthdays within a year. Seniors typically move to retirement living in their mid-80s. Droves of seniors will soon approach that milestone. Can the current system of retirement living in the United States meet Boomer Capacity? The short answer: No. So here’s what seniors…
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Turning a Hotel Into Homes for Seniors, Vets in Palm Beach County
Palm Beach County, Florida is about to lose 1,000 affordable units over the coming five years. Why? Agreements with developers established restrictions that reserved affordable units for 15 to 30 years. Those restrictions are about to expire. This comes at a time when Palm Beach County will need nearly 81,000 new affordable housing units to…
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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.
