Why do I say, aging “at home” instead of “in place”? I say this specifically because aging in place, that is, exactly where you are, may not be feasible for economic, security, availability of services, etc. reasons.

If you are very elderly (and or disabled) and need a high degree of assist in your daily life you may not have a choice but to stay where you are and deal with undesirable circumstances or go to an assisted living or nursing facility.

If you, however are still independent, you can make heartfelt yet practical housing choices. This home should have many of the aspects of universal design with emphasis of visitability and adaptability.

No matter where you choose to spend your twilight years you can make sure that you can be comfortable and content even if your health deteriorates.

The four bedroom 3 level home with lots of stairs and yard that takes a lot of maintenance may still be ok now but can you convert it into one level living with wide doorways, accessible hallways and rooms if this becomes necessary for you or a family member? My guess is probably not without great expense and construction inconvenience. Imagine the workman and the dust and the disruption a renovation can cause.

If you decide it’s your current home and your not moving ” ’til they cart you away”, then for goodness sake, renovate now a little at a time and be prepared. You can google “universal design” and get loads of ideas.

If you find that you can get a new home that you like and need for about the same as a renovation then perhaps you should do that sooner than later, also.

Hey, if you like living among your age peers, there are active adult communities locally and around the country.

If you choose to be among the general populace, perhaps close to where you currently live, close to family, in an urban setting, near a college, on a golf course, at the beach, in the mountains, WHEREVER, do it while you are still fully active.

Daily Real Estate News | November 7, 2007
Important Factors When Planning a Retirement Move
Boomers considering a retirement move shouldn’t be in a big hurry, says David Savageau, the author of Retirement Places Rated: What You Need to Know to Plan the Retirement You Deserve.

Savageau, who rates 200 potential retirement locales, says there are some important factors that people often overlook when looking for a place to retire.

Health Care.
Early retires are usually in good health, so this factor may not seem too important, but it may later on. Some popular retirement places, like the Outer Banks of North Carolina, don’t have hospitals nearby.

Jobs.
Some very attractive places have lousy job markets because there are so many people willing to take positions at low wages. This is particularly true near military bases where military spouses generally aren’t demanding about pay.

Taxes.
Retirees shouldn’t get so hung up on taxes that they reject some very attractive places out of hand. A review of the impact that state taxes will actually have on a retiree’s personal situation could be enlightening.

Culture Clash.
Moving from a blue state to a red state could make a retiree feel like a fish out of water.

Crime.
Overall crime rates are way down. Prudent selection of a neighborhood can make almost any area a safe one.

Source: BusinessWeek Online (11/6/2007)

Daily Real Estate News | October 8, 2007
New Products Make It Easier to Age in Place
More people are opting to “age in place,” or stay in their current home even as they get older. A variety of industries are helping older residents accomplish their goal to live comfortable and independent lives.

Here are some of the innovative approaches:

Whirlpool’s Magtag division is putting large Neoprene-gripped knobs on its washers and dryers so users can see and turn them easily, and it’s building more refrigerators with bottom freezers so often-used food is at eye level.
Several plumbing manufacturers are promoting hands-free faucets for people with arthritis, walk-in tubs, and they trying to make grab bars ever-present but less obtrusive.
Armstrong World Industries, manufacturers of cabinetry, is redesigning its product lines to give greater access to storage to people who have trouble bending and reaching.
The National Association of Homebuilders Remodelers (formerly the Remodelors Council) has added a “certified aging in place” specialist program to try to ensure professionalism in that business segment.

Source: The Philadelphia Inquirer, Alan J. Heavens (10/07/2007)

Daily Real Estate News | August 13, 2007

With prices in many areas at a low ebb, it might make good financial sense for Baby Boomers to buy their retirement homes now, even if they’re still years away from actually moving. They can find renters who will pay the bills until they’re ready to live there.

Here’s some advice for people who are considering this strategy:

Shop carefully. It’s best to buy a home that can be rented for a rate that, after tax considerations, will cover the mortgage, real estate taxes, and insurance.
Study up on housing trends. Ask the local or state planning department for demographic and economic data. The information can reveal facts that will influence whether or not to buy. For example, big companies going out of business or military base closings can be bad news.
Don’t forget maintenance. Consider who’ll take care of the house in the owner’s absence. Property managers charge 6 percent to 15 percent of the monthly rent. Family members may be willing to do the job for free, but they could be ill equipped to do the job if the don’t have any experience.
Consider financing. Boomers with sufficient equity in their current homes can tap it to either buy their retirement home outright or secure a much lower mortgage rate compared with a loan at the rate often offered to buyers of investment property.

Source: The Washington Post, Belly L. Kass, Esq. (08/11/2007)

Personal memorabilia (including college memories)
- Sports/Golf
- Vintage items (cars, tools, photos)
- Animal or nature motif.

No wonder Mom is the decorator. Happy Father’s Day, you big lug!

- Give a trip itinerary and emergency numbers to a trusted friend or neighbor.
- Remove all “hidden” exterior house keys.
- Let your security company know you will be out of town.
- Stop your newspaper, mail and package deliveries through the U.S. Postal Service.
- Turn off the water and gas supply to prevent leaks or water damage while you’re away.
- Make arrangements for a friend, family member or neighbor to take care of your home, including maintenance of your lawn and care of the family pet.
- Put lights, radios and televisions on timers to give the impression that your home is being lived in while you’re gone.
- Make sure that valuables are not in plain sight from exterior windows.
- Consider engraving identification information on larger items such as stereos and televisions.
- Check all doors and windows to ensure locks are working properly.

This way you return to “Home Sweet Home” not “Anxiety Abode”

New Plan Lets Home Owners Cash Out
An investment company backed by insurer American International Group (AIG) is offering to let home owners cash out their equity in exchange for a right to part of the proceeds when the home is eventually sold.

For instance, the owner of a home valued at $750,000 might obtain $100,000 in cash by giving the firm, REX & Co., a 50 percent share of the change in the home’s value. If the home sold for $850,000, REX would receive $150,000 — the original $100,000 plus half of the increase in value. If the home sold for $650,000, REX’s share would be $50,000, half of what it invested.

REX says its product is currently available in nine states – California, New Jersey, Virginia, Florida, Illinois, Washington, Colorado, New York and North Carolina – but the company plans to offer it nationwide within a couple of years.

Source: The Wall Street Journal, James R. Hagerty (05/08/07)

Realize with Rex that you only get half the money up front. I told you there were rules.

Builders have targeted singles developments primarily to “echo boomers” — people born after 1978 because they are twice as likely as people ages 46 to 64 to house-hunt in the next two years, according to a study by the National Association of Home Builders.

But even provocative marketing campaigns don’t keep baby boomers away from well-outfitted singles developments, builders complain. They say too many oldsters can kill sales in a development.

“I guess I have this mindset that I’m a youthful-looking 50-year-old,” says Gayle Strong, a 53-year-old attorney who recently moved into a two-bedroom condo in Denver’s Glass House, a community that promotes its youth-oriented amenities like a videogame lounge, “cool bars,” and “a fresh vibe.” As for the demographics in her building, “some of them are a lot closer in age to my kids,” she says.

But no matter who’s buying, condos targeting singles are selling. Atlanta’s Novare Group says it has sold more than 4,000 units throughout the Sunbelt since 2002, most of them for less than $275,000, and all of the buildings have sold out within a year of opening. A 417-unit complex developed by Bristol Development Group in Nashville, sold out in two weeks. And Lifestyle Communities in Columbus, Ohio, says it sold nearly 500 condos last year, even as area sales slowed overall.

Source: The Wall Street Journal, Ben Casselman (05/11/07)

“However our study shows that they’re surprisingly a formidable presence on the Internet.” Compared with the national average across all age groups, significantly more of those in the 40-plus age group, over 72 percent, access the Internet from broadband in their homes.”

Watching videos, writing blogs, and downloading music don’t rank as priority pursuits, but 92 percent spend time on the Web seeking information, 86 percent research products before purchasing offline, and 91 percent read articles online. A large number, 79 percent, say they respond to promotional e-mail about products.

Not Likely to Keep It to Themselves

Additionally, significant numbers are likely to follow up print or television advertising with Web research.

• 92 percent visited a Web site after reading about it in a magazine or newspaper article
• 89 percent visited a site after seeing a print ad
• 83 percent visited a site following a television ad
• 65 percent will visit a site after hearing about it in a radio commercial

Noting that “many marketers do an ineffective job of building a trusted relationship with people who are over 40,” Whiteley says, “the conventional wisdom that boomers and mid-lifers are set in their purchasing habits and resistant to marketing messages is a very costly myth. These generations have grown up in the information age; they will seek facts, data, and peer input — and then, they will make up their own minds.”

Once this demographic discovers something new, they aren’t likely to keep it to themselves.

• 96 percent share such information and details with their family.
• 84 percent with their children.
• 83 percent with their spouses.
• 71 percent among coworkers.

— By Camilla McLaughlin for REALTOR Magazine Online