You’ve served your country with honor and perhaps experienced combat. When you arrived back home, you found a job that would turn into a long and fruitful career. You found a spouse, made a family, bought a nice house in the suburbs, and made certain to make your mortgage payments on time, on a monthly basis. In the process you built up a great deal of equity in your home.
Now the kids have grown up, moved out, and created families of their own. Perhaps your spouse has passed on as well. You’re in your golden years and you’re not quite as healthy and spry as you once were, so now you require some aid. You have to make a choice. You can sell your beloved home and enter into either a private care facility or a veteran’s facility. Or you can do something else. You can remain in the comfort of your own home. rev
These days, services exist that provide medical and non-medical help for aging vets who don’t wish to leave their own home. There are many benefits to “aging in place,” one of the most major being personal independence. The problem with aging however, is that you can lose a good portion of your physical and cognitive abilities as time passes, which means for some older vets, a care facility is a better choice. But for older adults who only require a little help here and there, you can age in place and enjoy the independence you fought so hard for many years ago. This is something that can have a significant impact on your emotional, physical, and mental well-being as the years go by.
But what if you can no longer afford to stay at home even while collecting disability benefits and living off your savings and/or pension? Those who have religiously made their monthly mortgage payments on their primary residence for decades can solve this dilemma by applying for a reverse mortgage. Reverse mortgage loans tap into your home’s equity and allow you not only to stay in place, but if you so choose, you never need to make another mortgage payment again. You also don’t need to leave your home until you die or decide to sell. You can easily find out how much of a reverse mortgage loan you qualify for with an easy to use reverse mortgage calculator. Simply input your address and date of birth and ARLO will compute your estimated value, principal limit and even real-time rates and APR.
That said, what are some of the main benefits for aging veterans to age in place?
Studies show that aging veterans who cling to their daily routines are healthier than those who don’t. Staying at home while you age allows you to continue with your daily routines be it woodworking, walking, fishing, visiting the neighbors, or even working a part-time, on-line job which can give you the added satisfaction of being productive.
Adhering to daily routines are also said to put off dementia which can cause rapid cognitive decline.
While veteran care facilities are said to do their best to keep residents happy, healthy, and as safe as humanly possible, the risk of contracting infection can be higher than it would be if you lived at home. Your home is always a healthier environment especially when you can enjoy the benefits of non-medical help who can assist you with the cleaning, the laundry, and even with meal preparation.
While many veteran care facilities provide government subsidized and/or discounted services for their residents, some aging vets would rather live in a private community in their own private room or apartment. However, the costs for these facilities can range from $10,000 to even $100,000 per year. Choosing to age in place will greatly alleviate huge care facility expenditures, even with in-home support for an older vet.
Licensed health and wellness, “house call” operations usually provide their aging in place clients 24/7 service. Medical services for vets can include foot care, post-operative care, Alzheimer’s care, and much more.
Non-medical services include simple companionship, personal care, housekeeping, shopping at the supermarket, and even planning for the inevitable end-of-life.
Getting older for veterans who served so bravely in foreign wars or on the home front can be both a blessing and a curse. On one hand, you have stayed healthy and are living a long and productive life. On another hand, perhaps you’ve outlived good friends or maybe your spouse has passed on and life can get a little lonely at times. That’s why
But if you can’t afford to stay in your house, you should seriously consider a reverse mortgage home loan which will make staying in place entirely possible. At the same time, hiring a house call service to provide medical and non-medical services is an excellent way to take care of basic necessities while enjoying some much needed company. Just make sure to research which operation serves your needs the best.