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Author: Rayvt Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 127777  
Subject: Re: Second home for Relative? Date: 8/29/2014 10:30 AM
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We have 55+ housing in the local area here and that is one option we are looking into. The big issue that I have is that if I am paying for it in either case building an equity position makes sense over perpetual rent. But I need to run all the numbers and look at risks, time frames, etc. to make a final decision.

One thing about old people is that they have a tendency to die. If you are planning to buy a house for them to build up equity, better make sure the numbers still work okay if they die in 5 or 10 years and the house becomes vacant. Or if they get seriously ill and have to move into a nursing home.

My mom was in a DelWebb 55+ community for several years. It was okay, but we really learned the meaning of "condo commando".
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