Learning to Age Comfortably in Place

reverse mortgage loanAccording to a recent study conducted by AARP, there has been a steady increase in senior citizens who wish to stay in their own homes as they age. This rising trend accounts for 90% of the seniors surveyed and is now referred to as “aging in place.” While residing in assisted living facilities or with relatives provides definite benefits, many find that being able to continue living by their own rules, in the comfort of their own home, outweighs all other options.

However, it is important to remember that as your health and dexterity begin to change, changes to your home may become a necessity to keep the prospect of staying in your own home not only a reality, but a safe alternative to assisted living. According to the same study by AARP, there are certain features that are found to be especially important in your later years in life, and they are:

  • Safety features such as non-slip floors
  • Bathroom aides such as grab bars
  • A personal alert system for emergencies
  • An entrance without steps
  • Lever handled doorknobs
  • Wider doorways
  • Either higher or lower electrical switches

Not surprisingly, there has been a significant increase in homeowners opting to renovate their homes, according to an article by Reverse Mortgage Daily. With the rising costs in living and a rather turbulent housing market, remodeling your home to match your current needs is a very attractive option.

And if you are a homeowner at least 62 years of age, a Home Equity Conversion Mortgage loan may provide the extra funds you need to pay for any renovations needed to your home. A Home Equity Conversion Mortgage may assist not only in paying for renovations to your home, but it may help pay off any existing mortgage, increasing your monthly cash flow allowing you to live a more financially comfortable life. Call 866.751.6105 to learn more.