Welcome to our January 2025 Newsletter. Feel free to email us with anyone who might want to receive these newsletters.  We hope you enjoyed the recycle ideas last month.  Still waiting for your suggestions for future articles.

This month we are talking about Aging in Place, Renting vs. Buying, etc.  Fortunately for those who want to stay home, there are things to do to help you do that (see pg 2). For some who find the upkeep of a home too expensive or just too much, there are many options these days: Senior housing developments,  small homes, condos, and mobile home parks are purchased and separately owned in many cases and/or rented; Independent Living and Assisted living and more are buy in or rented.  We have a partial list if you are curious.

Renting vs. Buying in Retirement: 

Which is Right for You? 

In retirement, deciding between renting & buying depends on what best supports your lifestyle & budget. Buying can offer stability—your monthly payments remain predictable, which is especially valuable on a fixed income. You’ll also build equity & have full control over your space. However, owning does come with maintenance responsibilities & upfront costs.

Renting, meanwhile, provides flexibility and freedom from repairs, but rents can rise considerably with little notice, impacting your budget.

As a Seniors Real Estate Specialist (SRES®), I have the experience & specialized training to help older adults make housing decisions that fit their unique needs. I understand the challenges & priorities involved, & I’m here to help you navigate every aspect, from weighing financial considerations to evaluating the benefits of each option. My goal is to help you find a home that supports your lifestyle & provides peace of mind in your retirement years.

If you’re ready to explore your options, I’d be honored to help! 

Meeting the Challenges of Aging in Place

For seniors, aging in place is not as simple as just deciding that they’ll stay in their own home. For many, that home was well-suited for their more active, more mobile years. As they age, that home may present increasing challenges for them, caregivers and family. In fact, one-third of the participants in a 2021 AARP survey said modifications would be necessary in their current residence so they or a loved one could continue to live there should physical limitations occur. 

Needed changes can come from decreased mobility—an upstairs bedroom that once offered privacy and quiet may be increasingly difficult to get to. If the senior is using a walker, getting to a second-floor bathroom may be a near impossibility. For others, diminished cognitive skills and memory challenges may suggest the need for protection from a stove left on, scalding water, tripping hazards and more.

There may come a time when a senior must move to a facility that provides greater assistance. Until then, there is a lot that can be done to make aging in place a more viable option.  If you need some modifications for aging in place, we know of a few handypersons and contractors, just ask!

Common Aging in Place Renovations

Some aging in place efforts are simple and inexpensive. Others can become significant projects. According to the National Association of Home Builders, these are the most common aging in place home updates.