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The most effective aging-in-place renovations, according to experts and retirees

Housing Wire

But sometimes the cost of renovations can exceed the amount of cash that a retiree has access to, particularly for the majority of older Americans living on fixed incomes and relying on benefit programs like Social Security. More drastic renovations can double or even triple that figure.

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Top renovations to protect homes from natural disasters

Housing Wire

Try one of these renovations: More for Real Estate Enthusiasts. Home makeover: Design trends for your house in 2021. Four renovations to consider before selling your house. These windows are designed to withstand heavy winds and impact from flying debris, and they’re usually shatterproof, too. Storm shutters. Safe rooms.

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Older Americans are ‘splurging’ on home modifications to support aging in place

Housing Wire

One profiled couple in California hired an interior designer for $20,000, and spent another $95,000 on home modifications designed to more easily accommodate natural limitations to mobility that come from aging. This means that renovations of existing homes are likely to become more necessary as time goes on.

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Gen X homebuyers should prioritize aging in place: Boston Globe

Housing Wire

In most of our remodeling, we use a design technique called Universal Design,” said Brian Harvey, owner of Boston-area business Harvey Home Modifications. That essentially is a design that will serve anyone of any physical capability in the house.”

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New construction vs. resale homes: How agents can guide buyers in today’s market

Housing Wire

It can be tough for a buyer to choose when faced with the allure of a brand-new build or the charm and affordability of an older home. This can range from features such as more enormous closets, kitchens, and bathrooms to designated home offices or family spaces. Renovating to modernize can add to the long-term cost of a resale home.

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FHA institutes new payment supplement partial claim

Housing Wire

Regarding other initiatives, Gordon said the FHA is “also hoping soon to put out our servicing defect taxonomy ” and, in the near future, will be releasing a mortgagee letter for the 203(k) renovation loan program. Since March 2020, lenders and servicers have provided borrowers with nearly 1.9 million COVID-19 loss-mitigation actions.

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How fix’n’flip loans could help expand housing inventory

Housing Wire

The average home age in the United States is about 40 years old, so there’s a huge stock of homes that need to be renovated.”. Given the rising price of lumber and other construction costs, renovations may sound impractical. A fix’n’flip loan is designed to cover the costs of purchasing a home and renovating it.

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