Many senior homeowners have grown up with the idea that they should get their house paid off and settle there for life. In many cases, this is a great plan. However, it may be surprising to find that it is not always the cheapest option. In many cases, homeowners find that when they review their current monthly expenses, the costs are outpacing their income. Another option worth comparing is the cost of an independent retirement community. How do you start comparing the cost of your home vs. a retirement community?
The first step is to review your actual expenses for the last 12 months. As you age, so does your home. While you may not have a mortgage payment, you will always have