How to Get Set Up to Age in Place Safely and Confidently

Guest Article by Jim Vogel
Elderaction.org

Buying a home during your senior years isn’t always ideal, but it does present unique opportunities. You can add a handful of useful features to your home buying wish list that will prove beneficial well into your golden years. Here’s how to get set up to age in place in safety—and with confidence.

Downsize Smartly

Downsizing is a smart first step when faced with an impending move, says Business Insider, if you approach it correctly. That means going through your belongings and hanging onto only the things that you have room for and truly enjoy. But if you’re not ready to let go of some items yet, putting them in storage for the short term is a handy solution.

The average cost of a storage unit in Lanham is $113 per month, but smaller units can be had for less, and deals are available. Later, once you settle into your new place, you can decide what you want to keep from storage, if anything.

It may also help to be gentle on yourself. Change can be stressful and even traumatic, even under ideal circumstances. If you’re moving out of a home you’ve lived in (and loved) for years, it may be even tougher to part with possessions.

Psychology Today recommends taking proactive steps toward your future instead of remaining passive while things happen around you. Embracing the future as it arrives—and changing your mindset—can do wonders for your mental and emotional state.

Be a Forward Thinker

You might love the garden on a potential property, but in a few more years, will the acreage seem daunting instead? When you’re shopping for a home leading up to (or during) retirement, a perspective shift is helpful.

Think about five, ten, and 15 years in the future. What features will be handy, and which will be a headache? You may opt for a lower-maintenance property such as an apartment or condo or another type of senior living, or a house with a small and manageable yard.

You may also look to find a home that already has accessibility features and is only one story. While an ornate staircase may look lovely today, in a few more years, it might cause you difficulty.

Invest in Modifications

The unfortunate truth is that many older people experience mobility and other challenges related to aging. Even something as simple as knee pain can cause your daily activities to be a struggle. Therefore, when shopping for a home during your golden years, you will want to consider accessibility and modifications for aging in place safely.

The good news is that many newer properties are incorporating universal design into their builds. Universal design is an approach that involves features that are accessible to people of all ages and abilities. Common elements include knob-free door handles for easy opening, wider doorways with zero drop for walkers and wheelchairs to maneuver, and grab bars in potentially slick areas (it typically costs $140 to have grab bars installed).

Of course, if you decide to build a custom home, you can also collaborate with your contractor to incorporate accessible features. If you buy a home without such features, it may be possible to make modifications for walker or wheelchair access. Plus, there are financial programs to assist people with disabilities and veterans afford such measures, says The Balance.

Choose a Neighborhood with Amenities

Many older adults tend to stay in more as they age, partly due to physical challenges. For example, consider the fact that you may not be able to drive safely as you get older. Hearing and vision difficulties—plus slower reaction times—can make driving dangerous for older adults, says the National Institute on Aging.

You may not be there yet, but thinking ahead can help you choose a location that’s safe for the long term. Though grocery delivery and ridesharing services are common, they’re easier to access in urban areas rather than rural ones, so consider neighborhoods carefully.

Preparing to move—and downsizing—isn’t easy at any stage of life. But with the right mindset and a plan, you can successfully shed excess belongings, settle into a new place, and enjoy your golden years with less stress.

Photo via Pixabay

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2020 1st Time Buyer Programs and More

2020 1st Time Buyer Programs and More

1st Advantage with 3% assistance: Funds still available.  1st time buyers can get 3% of the base loan to go toward down payment or closing costs.   We can structure this with a FHA, Conventional, VA or Rural Housing 1st mortgage.  Use additional seller help and the buyer can get in with close to zero out of pocket. Remember for high score borrowers going with the 3% down conventional option, mortgage insurance is reduced.

Grant Assist:  $1500- $2500 grant that can go toward closing or down payment. You don't pay back at all.

House Keys For Employees: Many local employers participate in giving a grant to employees and MMP will match up to a total of $2,500. This goes on top of other incentives that are available.  i.e. State of Maryland employees can take advantage of this program and can get up to $2500 toward closing and down payment.

Low Rate Option: No assistance but rates as low as 3%..buyer has funds available but could use a really low payment,  this is the way to go.

Montgomery County:  Receive 3% of loan balance toward down payment and it is forgiven. Don't need funds?, there is the no assistance option with a rate of  2.875%!  If you work in the county also, you have access to another $10,000.

Smartbuy 2.0: Up to $40,000 in student loans paid off and forgiven.  Nice way to get started... buy a home and get rid of student debt.

Pathway to Purchase: Funds still available:  PG county has up to $10,000 to assist with closing and down payment and it is forgivable.

4% Grant:  For a higher rate, your buyer can get 4% of the base loan as a grant to go toward down payment and or closing.  Does not have to be paid back.

Rural Housing:  100% financing with 6% seller help allowed.  Yes you can combine with 1st advantage program above to get additional assistance.  Don't forget about this option in areas that are just outside of city limits. Call me and we can check the address.

FHA 203K:  Rehabbing good bones can make that house a home. We are the best in walking your client thru the process of turning a distressed property that was not able to get financing into their new chapter.

So many options available - Find out which one you can qualify Click here

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4 Ways to save Money in 2020 starting Today

4 Ways to save Money in 2020 starting Today

4 Ways to save Money in 2020 starting Today

4 Ways to save Money in 2020 starting Today

2020 is around the corner what is your resolution? Lose weight, eat healthy, save money? All good but without a plan it will all go up in flames within a few months into the year.
If one of your resolution is to save money, here are four easy ways to do that. Plan, write it down, make it plain and execute.

1. Create a budget. Creating a budget is one quickest way to visually see where your money is going monthly. A budget does not have be a complicated process, or use a special software. Start by getting  all your fixed expenses down (housing, phone, cable & Wi-Fi, utilities, student loans, car payments ,car insurance), get your variable expenses down by  getting your average expense for the past 3 month(food, entertainment, clothing, gas, charity giving, credit card payment).Comparing  all your expenses to your income should show clearly if you need to make adjustment . There is always room for adjustment by reducing expenses and getting rid of some expenses. Creating and following a budget should not be restrictive or onetime event. To save money this New Year find out where your money is going to, create a budget and plug any leaking holes. Continue to tweak your budget by reviewing periodically and adjusting.

2. Automate your savings. In your budget create an expense item for your savings. Saving should be part of the budget and the easier way to make sure to save is to direct your payroll or bank to automatically send your set amount to your savings account. Ideally every one need to have an emergency saving fund to take care of unplanned expenses and the suggestion is to have at least 6 months worth of expenses saved. Only 40 percent of Americans can pay for unexpected $1000 expense according to a recent survey from Bankrate.com, anything above can push lots of American over the edge, the best way to avoid this is to automate your savings monthly.

3. Turn your raise to savings. Are you getting a salary raise in 2020? Use that raise well by increasing your savings by the net amount of the raise. Instead of planning to spend the raise, add to your schedule savings if building up the emergency fund, alternatively if you already have your emergency fund, invest the raise by increasing your contribution towards your retirement plan.  Don't have retirement plan? No better time to start than now.

4. Pay off your credit card. Stop giving your hard earned money to credit cards companies, the longer you carry balance the more interest you pay is just like throwing money away. Be truthful to yourself and understand your spending habits. First get out all your credit cards statement and look at the interest rates,you will be shocked to see that if you are just making minimum payments monthly most of your payments is going towards interest.  New year resolution save money by paying off your credit cards, stop carrying monthly balance, stop charging if you will not pay off balance monthly. It all goes back to your budget, if you cannot afford to pay off monthly then you don't need to use the card.

Start your 2020 right by planning your strategy to save money now, plan it, write it down and execute. It does not have to be painful, but with determination and continual action you will finish 2020 richer than 2019.

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WHAT TO REPAIR BEFORE YOU PUT YOUR HOUSE IN THE MARKET FOR SALE

WHAT TO REPAIR BEFORE YOU PUT YOUR HOUSE IN THE MARKET FOR SALE

When you’re getting ready to put  your home in the market for sale, it’s of the upmost importance to ensure you are showing it in the best light. Taking time to highlight its strengths and fix up some of its possible weaknesses can make a big difference in how fast it sells. Here are our top five recommended repairs to make before selling your home.

Repaint walls.

Giving your home a fresh coat of paint is one of the most cost-effective ways to spruce it up, and generally, it can be a do-it-yourself project. Make sure cover any walls with scratches and chips and consider updating any accent walls with a more neutral coat.

Repair floors.

Hardwood floors are a very desirable feature in a home, so you want to ensure they look their best by fixing scratches or dull areas. If your carpet is worn or stained, consider replacing them. And don’t forget the tile in your kitchen or bathrooms. Re-grouting can go a long way in making dingy tile work look brand new!

Refresh the landscaping.

Show buyers your home is the full package by dressing up the outside as well as the in. Clean walkways and driveways, plant seasonal flowers and plants, trim hedges and trees, install outdoor décor pieces and fill in mulch and gravel.

Fix your fixtures.

Leaky faucet? Rusted drains? Loose drawer handle? Making these small fixes can make a big difference to potential buyers with detailed-orientated minds. Improve your kitchen. An outdated kitchen can be a real eyesore in a home. Updating cabinetry, repairing or replacing countertops, and installing new faucets and sinks may be worth the investment.

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Mortgage & Refinance Search All Homes For Sale Increase Your Home Value Homevalue Estimator		Keji Ogunleye Associate Broker Fairfax Realty Elite, Inc 301-613-2043 Licensed In: MD License #: 585497 Contact Me
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