The thought of investing in a property as a “forever” home is becoming less of a long-term plan for many older Americans—as the cost of living, maintenance, higher mortgage payments, and insurance fees are starting to eat into their cash reserves. So, they’re coming up with a backup plan.
Alyson Austin , 56, was living and working in Southern California, but as she started to think about what life would look like as a retiree, it became apparent that her mortgage was draining the savings she’s built up for her golden years.
The expenses, coupled with her aging mother who lived across the country, convinced her to give up her California dreams for reality…