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It's actually a very practical thing do do. Not only will the house be exactly to your frend's taste, if he's smart he can design it for aging in place. Most standard hoses give little thought to the needs of older or disabled people, and small things that are easy to add in the planning stage (such as extra-wide hallways and doorways for easy wheelchair access, a large walk-in shower, at least one entrance to the house that does not have stairs or a stoop, etc.) can be difficult or even impossible to retrofit later.
If builders would just do those things on the first floor of EVERY house they built (especially the smooth thresholds and wide halls and doorways, which are hard to change after the fact), "aging in place" would be more feasible even in a two-story structure. And I would think those features, properly explained, would appeal to younger buyers as well, since you don't have to be old to end up in a wheelchair (either temporarily or permanently).
But then they might stay longer and not buy another house . . . :-)
I know someone who was about 62 when he built his second "dream house". His first dream house was perfect for a family with three children, but those children were all grown up. The house had the master bedroom suite upstairs, and other problems, and he now had rheumatoid arthritis. He had his new house built completely handicapped & wheelchair assessable. Every entrance was wheelchair assessable with not even one step. It does not have a basement (unusual in Wisconsin) but has a lot of built in storage that is easily used by someone with a cane, walker or wheelchair.
He was able to add many things that were important to him & his family at this point in his life. His dining room table normally seats 12 & with all of the leaves, I believe that it seats 18 to 20 people. He had always wanted to have a space where all of his children and grandchildren & other relatives could comfortably sit during holiday meals and he succeeded.
Since he had the money it was totally mortgage free.
Frankly, I'm pretty jealous.
Quote:
Originally Posted by Aredhel
You should be. Your friend's house sounds fantastic! (And very, very practical as well, which is even more important.)
And, since he has more money now than when he was younger & raising three elementary age children, everything is completely top of the line. Granite (or maybe marble) countertops, custom made drapes, whirlpool tub, huge walk-in (LOL, future roll-in) pantry, enormous laundry room, plus three bedrooms & a computer room, etc. etc. He even dredged a pond so that he can watch the wild ducks from his living room floor to ceiling windows & the deck off the dining room.
I'm amazed that anyone would even ask this sort of question. They're having a builder build it, although I don't see any problem with anyone who wants to build their own house at any age. Keeps them busy and they'd get a lot of exercise, whatever the age.
Houses aren't usually built by one person, they're generally a group effort so whether one more person is part of that group, it wouldn't make much of a difference. Also, he hasn't mentioned how he's planning on paying for the construction, but he may have enough to pay cash. And, it's his life as well as his financing so what reason is there for anyone else to be concerned?
Assuming your question is about taking on a 30 year mortgage really...yes, I know people over 50 who have built a new home, can afford it, and enjoy it very much.
I thought it was weird to be honest. If I am able financially,mentally and physically, I say why not. Age has nothing to do with it. Some folks have built several homes after age 50.
Your thoughts.......
My parents did. They moved to another state and built a new home when Pop was 69 and Mom was 60. Enjoyed it immensely for many years.
I know a 65 year old having one built now . Not a downsize. Bigger than anything she ever owned before. Cash.
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