Angela DeBlois' Real Estate Blog

Independent living is often cited as being good for one’s well-being, so it’s no surprise that aging in place has become so popular. Thankfully, many options in today’s housing market make it possible.
Preparing for physical safety and financial security are the most immediate concerns that come to mind as we plan for aging in place. However, convenience and overall well-being should also be considered before deciding where to settle in.
Here are three housing options to weigh as you or your loved ones plan for continued independence.
1. Renovate Your Current Home
Adding front entry ramps, bath bars, sit-in tubs and other safety features may make it physically possible to stay where you are. However, renovation costs can add up quickly, especially if they’re needed all at once.
Home maintenance should also be factored in. Who will manage the upkeep if the property has multiple floors or a large yard?
2. Right-Size to a Manageable Floor Plan
Some may find it easier to purchase a home with barrier-free, universal design rather than deal with the stress of home renovations. Moving closer to family and friends can also help to prevent social isolation or depression.
3. Buy a New Home With Family Members
Floor plans for multigenerational homes are often designed with individual privacy in mind while allowing family to be nearby. Sharing home maintenance costs also minimizes living expenses. And this is an excellent way to help family members enter into homeownership.
Aging in place requires thoughtful preparation. Get in touch today for a referral to a trusted financial adviser to begin this journey. You can also reach out if you’re interested in learning about your home’s value or finding a new property.

Did you know you can buy your dream home while paying off student loan debt?
It’s true and even quite common. While student loans are factored into your debt-to-income ratio, they shouldn’t prevent you from becoming a homeowner.
And fortunately, there are many programs and options available to prospective buyers, some you may not be familiar with. Here are four ways people with student loans achieve their homeownership goals:
1. Co-buying With Friends or Family
Purchasing a home with a roommate, significant other or sibling allows you to combine multiple incomes to qualify for a better mortgage rate. This can help lower your monthly payment and make home maintenance more affordable.
2. Receiving Financial Gifts From Family
You can also accept gift money from your parents, grandparents or other family members to put toward your home purchase. Some loan programs have a cap on how much gift money can be used, so make sure you know the limits first.
3. Choosing Low (or No) Down Payment Loans
There are many low down payment options, including FHA, HomeReady and Home Possible loans. For loans with no down payment, VA loans may be available to veterans and military members as well as USDA loans for those purchasing in rural areas.
4. Using Assistance Programs
Down payment assistance programs can cover some or all of your down payment costs if you qualify. These programs vary by location, so talk with a lender to learn about potential options.
Working on your credit can also help you buy a home. Pay your credit card bills on time every month, aim to pay down your debts and never let an account go into collections. It also helps to get preapproved for a mortgage so you know how much you qualify for.
If you’re ready to make homeownership a reality or would like a referral to a trusted lender, get in touch today.