The “love test” for buying a house now is “Will I be able to live in this house in 20 years?”  The trick is to upgrade sooner rather than later to avoid the expense and stress of making modifications under duress.  If you are 50 and planning to be in the same house at 70, it’s obvious that some changes just make sense.  The best of these, ones that would make the house more livable for young grandchildren or very elderly parents, fall under the label of universal design.  Happily, many builders are now aware of these features and can incorporate them into your home.

Some of the more subtle aspects of universal design include 36-inch wide doors so that all rooms and closets may be wheelchair accessible; and raising electrical outlets to 18-24 inches above the floor so less bending is required to reach them.

In the kitchen, one of the easiest and most useful things to change is the light level.  By the time you are 60, you need three times as much light as you did at 20!  For starters, a light fixture over the sink; and under-cabinet lights for food prep are essential.  Further modifications might include varying counter heights to accommodate shorter and taller cooks, raising the dishwasher to make loading easier, and installing a wall oven to cut down on bending. 

In the bathroom, that all important grab bar can be important not only to the elderly, but for the grandkids to take a shower as well.

One easy way to measure how livable a house will be in 20 years is to walk through with a yardstick.  Center it on your waist and see how easy or difficult it is to move around.     

 Chris and Annie Psomas were worried.  They were suddenly confronted with a balloon payment on a loan they had taken out when a family business failed, and health problems hindered their ability to pay.  Their solution was a reverse mortgage. 

Dr. Elizabeth Duncan, 82, used a reverse mortgage to build up her psychotherapy practice.  As soon as it’s where she wants it to be, she plans to revert to a   conventional mortgage. 

Both cases highlight how far reverse mortgages have evolved.  Once perceived as a last-ditch instrument to use in order to keep the family home, they are now used to purchase cars, make repairs, finance education, pay for in-home care, or insurance; or finance a new business.

With fees near 4 percent of the loan amount, they are still expensive.