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  • 🛖55 & UpSides #0022: Down payment help? | Mother-in-law suites | Gutter guards?

🛖55 & UpSides #0022: Down payment help? | Mother-in-law suites | Gutter guards?

Author

Ronnie Mac James
December 23rd, 2024

First time reading? Get your free subscription here. This newsletter’s goal is the extinction of information overload for folks like me who are aged 55 & up. Easily unsubscribe below if you got here by some interwebs mishap.
 
Merry Christmas, 55&UpSiders. I think some of the best Christmas gifts came out in the 1980s. See if you remember when these 80s gadgets popped on the scene.
 
 
Here’s what I’m covering for you today…
  • Today’s Poll (renovations)
  • Curated topics affecting us & Good News stories
  • Quick visual breakdown on Down Payment Help
  • Feature Story: Building “Creative” In-Law Suites
  • Face The Facts (& do something about ’em)
  • 🍩Reply to this email with “donut” for a chance to win a Dunkin Donuts gift code!
  • Word of the day is “Silent Second Mortgage,” see what it means
 
 

Poll: Have you done any home renovations this past year? (let us know what kind if so - thanks!)

Login or Subscribe to participate in polls.

 
 

Curated Countdown

 
🕙  Lost Toys From Back In The Day (Includes Motorcycle Nut)

🕘  Cold Feet Could Be A Sign Of This Silent Killer

🕗  Dumb Crook News: Hard To Rob Folks Who Just Don’t Care

🕖  New Rule Makes Tapping Retirement Savings Easier

🕕  Remember Any Of These Vintage Santa Claus Ads?

🕔  Can You Guess The Average Net Worth Of Each “Class”?

🕓  Mortifying Gift Princess Diana Had To Open With Everyone Watching

🕒  Why Are People Putting This Weird Info On Job Resumes? (Audio)

🕑  Changes U.S. Needs In Healthcare Via Clark Howard (Audio)

🕐  Smartphone Sim Card Scams On The Rise (How It Works)

Now let’s see how Americans can get money for house down payments…
 
 

House Down Payment Assistance Programs?

 
Yep, home buyers can get help with the down payment. There are now 2,444 down payment assistance programs in the U.S. The five states with the most are below
 
Number of Down Payment Assistance Programs by State in 2024
 
The average amount in downpayment assistance is $17,000 (it’s not just for first-time buyers). Find out more here or share this with someone you know who’s shopping for a home.
 
 

Feature Story

 

Building “Creative” In-Law Suites

 

The problem is...

  • Aging parents need care & proximity, but maintaining independence is key
  • Housing costs are high as heck, making it hard for extended family to live nearby
  • Zoning regulations complicate adding living spaces to existing properties
 

5 resources that can help you

 

Roadblocks

  • Limited lot size restrict building options
  • Potential resistance from neighbors or HOAs
  • Navigating permit processes is usually frustrating
 

Upsides & ways to beat roadblocks

  • Increased property value & potential rental income
  • Flexibility for changing family needs
  • Creative solutions like converting garages or basements can bypass some zoning issues
  • Prefab or modular units can reduce construction costs
 

Takeaways

  • In-law suites offer a flexible solution for multigenerational living
  • Creative options include converted garages, multi-use pool houses, & backyard structures
  • Consider future needs & multipurpose designs for long-term value

Up next below, watch out for high-pressure sales (especially for gutter guards)…
 
 

Face The Facts (then punch ’em in the nose)

Know the facts so you can overcome or take advantage of them.

 
5) Cleaning your house gutters out is hazardous due to electrical danger, pelvic fractures from falls, mold spores, etc.

4) Gutter guard sales tactics are often high-pressure & no system makes gutters maintenance-free (i.e., pine needles get stuck & leaves trapped on top of guards)

3) 32.8% of ride-hailing drivers (i.e., Uber) were between 61 to 70 years old (2019 survey)

2) AARP survey shows only 29% of people over 50 had used ride-hailing apps as customers

1) In the U.S., about 75% of land zoned for housing is restricted to single-family homes only (CNN)

👊Let’s punch high-pressure sales in the nose.

Ways to avoid buying things due to salespeople pressuring you:
  • Tell the salesperson you need to think it over & will contact them later
  • “No” is a complete sentence
  • Verify claims, read reviews (beware fakes), & compare prices
  • Verbal promises don’t mean diddly. Get everything in writing
  • Trust your instincts & walk away if anything feels “off”

One time, we had a vacuum salesman stay too long pushing a fancy vacuum cleaner on my Dad. So, I walked up to my Dad’s house & asked the salesman if he wanted to see my fancy 12-gauge shotgun. He declined my offer… & left pretty fast. True story.
 
 
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🆓Contest: Reply to this email with “donut” for a chance to win a Dunkin Donuts gift code!🍩

The upside’s always worth looking for,
Ronnie Mac James
Ronnie Mac James

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