By: John Krajsa
AFC Reverse Mortgage
Many older Americans are finding it very challenging to be able to stay in their home as they grow older. Some of the reasons are health issues that tend to increase with age, but others find that instead of their home being their safety net, it has become a financial burden.
What older Americans need to consider is the question, “is staying in my home the right option for me”? There are many things to consider besides the financial side of things. And what’s important to remember is that every situation is unique and there isn’t one answer that fits all scenarios. For example, most existing homes today were not built with a view to being used by an aging population. Doorways may be too narrow for a wheelchair to pass through. Although stair glides may be a lifesaver, not all stairways can accommodate them. The concept of “Universal Design;” where a home is planned for eventual use by seniors is unfortunately a new idea. Other non-financial factors are addressed starting on Page 3 of the NCOA “Use Your Home to Stay at Home” guide.
As many American face these tough questions, we will take a look next week at what resources you have to help. Stay tuned.
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