Turning 50 - Where To Live?

[VirginiaGirl]

I read through the "Best Places To Live" thread and was quite enlightened, but I have a little different circumstance and was wondering if anyone had some helpful tips.

Are there any new options available in housing once you turn 50? As a single parent, I have had to rent all my life. I have been living in a privately owned apartment building (where I raised my son) for the last 10+ years. I found out this month the rent is being raised (in the form of "water/sewage" charges, so there is an additional rent increase to follow when my lease renews in October) in August past what I am able to afford.

I turn 50 on August 2nd. Are there any other opportunities for affordable housing once you turn 50 or is it all based on 55? I've tried to qualify for HUD housing, but my income is $50 too much. As a matter of fact, I'm so right on the deciding line that when the cost of living guidelines are raised each year, I qualify for services. Unfortunately, when I get my cost of living increase I'm $50 over again. (They're really sticky about that here in Virginia.)

Does anyone have friends that got caught by the housing market and have found resources for living without a residence? I apparently don't do search items very well and would greatly appreciate any links to best places to live without a static residence.

Many thanks for any ideas or suggestions you can provide.

 

[CuppaJoe]

I don't know what HUD is, but a small cut in pay would qualify you?

Good luck with that and welcome to Early Retirement Forums!

 

[WhoDaresWins]

Welcome to the forum! I don't know about VA, but here in PA the only types of subsidized housing is Sec. 8( any age, by income) and Senior/Disabled housing(age 62 and over for Senior and any age for Disabled).

 

[VirginiaGirl]

Thanks for the responses. I think Section 8 is for severe poverty, HUD gives you a chance if you barely have enough to keep a roof over your head.

Thanks for the nice welcome.

 

[jimnjana]

You may want to check out

GovLoans.gov - Find the Right Loan for You

they have pretty much every fed govt loan program available. My wife purchased her first home using the RDA program. It was a great deal for her.

Jim

 

[VirginiaGirl]

You may want to check out

GovLoans.gov - Find the Right Loan for You

they have pretty much every fed govt loan program available. My wife purchased her first home using the RDA program. It was a great deal for her.

Jim

Thanks for the great link, but I don't think I'm in a position for home ownership. After watching my sister and mother take care of their homes when things break or stop working, I realized I did't have the income to support those types of major repair incidents.

At this point I'm just looking for someone who is good with getting deals on foreclosed properties and who's resultant low mortgage might be much more able to fit within my budget as a renter.

 

[haha]

Are your children gone from home? If so, look for a nice 1 bedroom apartment in a safe lacation and plan to investigate senior options as you get there. All costs considred, apartments are often cheaper and less old/beat up than rental houses.

Ha

 

[Bestwifeever]

You could share a residence--maybe check Craigslist?

 

[skayty3]

I read through the "Best Places To Live" thread and was quite enlightened, but I have a little different circumstance and was wondering if anyone had some helpful tips.

Are there any new options available in housing once you turn 50? As a single parent, I have had to rent all my life. I have been living in a privately owned apartment building (where I raised my son) for the last 10+ years. I found out this month the rent is being raised (in the form of "water/sewage" charges, so there is an additional rent increase to follow when my lease renews in October) in August past what I am able to afford.

I turn 50 on August 2nd. Are there any other opportunities for affordable housing once you turn 50 or is it all based on 55? I've tried to qualify for HUD housing, but my income is $50 too much. As a matter of fact, I'm so right on the deciding line that when the cost of living guidelines are raised each year, I qualify for services. Unfortunately, when I get my cost of living increase I'm $50 over again. (They're really sticky about that here in Virginia.)

Does anyone have friends that got caught by the housing market and have found resources for living without a residence? I apparently don't do search items very well and would greatly appreciate any links to best places to live without a static residence.

Many thanks for any ideas or suggestions you can provide.

I live in Portland, OR in a LIHTC building (low income housing tax credit). It is open to all ages but your income must be lower than a certain amount. My building max is 60% of the poverty level, but there are other buildings in town using different percentages. The highest, I think, is 80%. There are usually waiting lists for these buildings.
Try LIHTC Database Access for your state.
Good luck!

 

[Sunset]

When I was in FL, I saw something that might be in lots of States, communities for 50/55 yr olds.

You could check out what I will call 50+ trailer parks, although the ones I toured were nice.
I saw park models (like double wide, with parking driveway and shed) for $20K plus monthly rent of land for $600 , but property taxes were only about $75/yr.

There were even single width ones, that were listed for 10K, and the rent for the land was about $500/mo

The rent includes common activity building, swimming pool, excercise room, etc.

 

[Music Lover]

Thanks for the great link, but I don't think I'm in a position for home ownership. After watching my sister and mother take care of their homes when things break or stop working, I realized I did't have the income to support those types of major repair incidents.

At this point I'm just looking for someone who is good with getting deals on foreclosed properties and who's resultant low mortgage might be much more able to fit within my budget as a renter.

IMO, if you don't have DIY skills and are working with a limited income, home ownership may not be right for you. One major repair could put you in a hole that you may never get out of.