What is Peter Pan Housing?
Have you ever heard of the term, “Peter Pan Housing?” It stands for houses that were built for those who never grow up. Two-story homes with no bathroom on the ground floor. Bedrooms that are upstairs only. Dim lighting, hard to reach cabinetry, high step-over bathtubs. Features that were designed with the young in mind. Unfortunately, we all grow up. The 65 and older population is increasing at warp speed. As such, developers are looking at creating stylish and appealing designs for seniors. Senior smart homes feature zero-step entries, comfort-height toilets, lever handles, low step-over bathtubs, French oven doors, under-the-counter microwaves, and new technologies that allow seniors to stay in their own homes longer.
Modify Your Home
If you choose to age in place, there are ways to modify your existing home to create a more functional and senior-friendly environment. You can re-finance for remodeling. Reverse-mortgages are often a great way for those on fixed incomes to access funds. As a result, you will be able to modify your home to fit your existing needs and live in it longer.
Senior Living Communities
If moving to a senior living community is the goal, reverse mortgages can also provide funds for the initial move. Your existing home can be placed on the market and your reverse mortgage paid off after the sale. Monies from the refinance can pay for retirement home entrance fees, which are often exorbitant. With more and more seniors desiring to live independently, it’s crucial for you to know strategies because you need to be equipped to live comfortably, safely, and securely. Keep in mind that it is never too soon to start exploring options. Wait lists at popular retirement centers can be as long as five years or more!
For more information about senior living communities, independent living, and assisted living, a Senior Real Estate Solutions (SRES) agent can help you navigate the various choices and processes available. Don’t let barriers and hazards posed by “Peter Pan” housing keep you from enjoying the lifestyle you deserve!