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Senior Citizens | From Urb to Burb and Beyond Blog

Tuesday, March 9, 2021   /   by Vanessa Saunders

An affordable way to provide a home for your elderly parents.

By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
As more and more Baby Boomers age, many are turning to assisted living to see them through their "golden years." But the costs of eldercare programs and nursing homes are skyrocketing. In many cases, it may actually be more cost effective for children of elderly parents to buy them a house instead of putting them in a nursing home. Even in conjunction with in-home nursing visits, it can be more affordable (not to mention more comfortable) for them to live in a conventional house than a nursing home. For that reason, some children of elderly parents are considering buying them a house instead.
Until recently, the problem with this solution is that because the children financing the home aren't owner-occupiers, they would need to buy the property as a second home or an investment property in order to secure a mortgage. Inconveniently, to qualify, second homes need to be 50 to 100 miles away from the b; ...

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  hudson valley real estate, hudson valley home, 'urb to 'burb, buying a home, home investment, hudson valley home owners, senior citizens

Friday, December 11, 2020   /   by Vanessa Saunders

Seniors may have to choose between real estate tax exemptions and Covid-19 exposure.

By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
http://www.globalpropertysystems.com
Thousands of New York’s elderly population may be forced to decide between renewing their real estate tax exemptions or risking contracting Covid-19 with a trip to their town hall during the height of the pandemic.
In a few weeks, senior citizens who earn more than $38,000 per year must re-apply for their real estate tax exemptions, which often save them thousands of dollars a year. To do this, they’ll need to fill out and file renewal documents with their town. Some New York lawmakers are concerned that seniors will put themselves at risk for contracting Covid-19 during the trip to their town hall.
State Senator David Carlucci is presenting a bill to the New York State Assembly which will allow seniors to be automatically renewed for 2021. “We don't want a situation
where seniors feel forced that they have to travel to the Town Hall in this ...

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  hudson valley real estate, 'urb to 'burb, hudson valley home owners, property taxes, lower property taxes, covid 19, senior citizens

Global Property Systems
Vanessa Saunders MBA MIMC CIPS - NYS RE Principal Broker
56 Lafayette Avenue Suite 320
White Plains, NY 10603
914-290-5258


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