Use construction loan to build new home
Retirement has finally arrived, and you’ve checked all the right boxes. Mortgage paid off, check. Loans to help kids through college paid off, check. Nest egg ready for the future, check. You’ve found a great spot to build your retirement dream home and you’re ready to bring your blueprints to life. But there’s one step you haven’t yet navigated: getting a construction loan to... READ MORE
The financial perks of going solar
Ivica Bilich and Jennifer Twiggs, of Charlotte, North Carolina, love their house’s solar panels. “When I pull up to my house on a sunny day and see the panels, they look like a slot machine dropping money on my front porch,” Bilich said. The couple had been thinking about going solar for years, but in the fall of 2018, the numbers — a combination of falling costs and... READ MORE
Moving? Consider renting vs. selling
So, you’re ready to downsize and move into a retirement community or closer to your grandkids. Should you sell, or consider renting out your home? Like many of life’s big decisions, the answer depends on your situation, goals and personal preferences. Both options offer advantages — and potential drawbacks — that you must weigh carefully. First things first: Determine if your... READ MORE
Horse therapy helps dementia patients
Horses can change lives for the better. A number of residents from a Baltimore retirement community have had first-hand experience with the healing powers of a soft nose and gentle eyes. Each spring and fall, Broadmead, a Quaker Life Plan Community in Hunt Valley, sends four to six of its residents with dementia to the Rose of Sharon Equestrian School (ROSES) in Glen Arm — a... READ MORE
Moving to escape taxes? Make a clean break
Breaking up can be hard to do if the other party doesn’t want to let you go. People who move out of high-tax states may learn this the hard way — through a residency audit. States such as New York, California and Illinois use the audits to claim that your recent interstate move was just a tax dodge and that you still owe their state income taxes. Proving you’ve actually moved... READ MORE
A downsizing journey: Learning to let go
I spent an entire year of my life downsizing my big house. That yearlong journey was one of the most challenging, most revealing and most rewarding years of my life. During the process of decluttering and downsizing my home, I discovered the real me that was hiding underneath all of that beautiful stuff. To say it was easy would be a lie. I was confronted daily with one more drawer or ... READ MORE
D.C. Housing Notes – October 2019
Community opens in Silver Spring The Landing of Silver Spring is one of the newest communities providing assisted living and memory care services in Montgomery County. Located in the Colesville area, the Landing includes 138 apartments: 79 for assisted living and 59 for memory care. The community began accepting residents in July and will hold a grand opening on October 24. The... READ MORE
Remodel for aging in place with style
Your kids are successfully launched and, suddenly, you seem to have more disposable income. This could be a good time to tackle the remodeling projects you’ve been putting off. And while you’re updating your house for style, consider adapting it so you can age in place comfortably. Studies show that most homeowners age 50 and older say they want to remain in their house as they... READ MORE
Home equity can become your safety net
[Introductory note: A reverse mortgage allows homeowners 62 and over to borrow against the equity in their home while retaining the right to remain in the home as long as they live. The money can be made available in the form of a lump sum, an annuity or a line of credit with a guaranteed rate of growth, and never needs to be paid back by the homeowner. The lender will recoup the... READ MORE
Protect your home from deed, title theft
Q: I keep seeing ads for services claiming to protect people from home title fraud or deed theft. Is this even a prevalent problem? Is there an easy way for me to confirm that my title is clean rather than paying for a service? A: In 2008, the FBI identified “house stealing” as the “latest scam on the block.” Since then, it has popped up periodically in cities such as Chicago,... READ MORE
