George and Katie Billing - Finding the Perfect Housing Middle Ground

Notes:

Here is the real life story of George and Katie Billing. At retirement they moved into a nice apartment in a complex for 55+. But after awhile they felt too confined and looked for something larger - more homelike - and found a 55+ condo complex with more space, privacy and that feeling of "home". A place they could own and use in their own way.

The story doesn't talk about the financing; but there are many senior couples who are in the same situation, but may not have enough funds to make this same kind of move.

NOW, with the improvements and expansions of the Reverse Mortgage in the Housing and Foreclosure Rescue Bill, a couple like this could use a reverse mortgage to assist them in purchasing a home of their own. Before, the reverse mortgage could only help you if already owned a home.

But, now it may be used for the purchase of a new home. This is one of the great benefits to seniors that was included in the Bill that was signed into Law on July 31st.

Have a great day!

Gloria

George and Katie Billing - Finding the Perfect Middle Ground
By: Guide To Retirement Staff, Real-Life-Stories


After traveling to exotic locales, seeing the sites and exploring all that the world has to offer, George and Katie Billing tried to determine what was next for them.
Their home in Florida wasn’t quite what they needed anymore. With a large yard that George had to toil over and too many rooms to be practical, the couple had a decision to make.

Where should they finally settle down? A chateau in Paris? A paradise retreat in Barbados? The choices were endless, but in the end they realized there was really only one choice: Fredericksburg, Virginia.

RENTING

The town, filled with history and amenities, was just what they wanted. Most importantly, it was where three of their four children resided. No matter how many opportunities they had to travel or how many places they went, nothing was quite as sweet as being a moment’s drive from their family.


“It got tiring trying to schedule visits and missing out on certain family events,” George said, “So it made the decision easy for us – we wanted to be near our family.”


Their next step was to find a home that fit their lifestyle. No longer interested in the upkeep and trouble of a house, they settled on a 55-plus apartment complex. With two bedrooms and a living area, the couple soon felt too confined. The space restrictions were a major change from the big homes they had always lived in with area to spread out.


Then a notice went up that rent was going to be raised which made the choice to look for a new home easy.“We were so confined in that space and disliked the fact that they were raising rates on a complex we were not even happy with,” said George. “So we began looking around for something that felt more like home to us.”

OWNING

The Regency Park Villas, an active adult community managed by Epcon, was the perfect middle ground for the couple. With plenty of social opportunities and ways to get involved in the community, along with spacious condos, the couple knew right away that this was the place.

Its unique design with homes connected at the garages allowed the added privacy the Billings enjoyed with a single family home.

They had the benefit of owning a home, but without all the pains of taking care of a yard. “The community is ideal for us,” said George. “It’s small enough so you know people here, but we also can choose how involved we want to be, and that’s helped us maintain a feeling of home here.”

According to George, there is a clubhouse with activities and events, a pool, walking paths and a workout center. The couple does not worry about feeling too confined, and they enjoy the close proximity to their family.


What the community offered was much more than George or Katie even expected. A year after their move, the Billings still love their home and George is now the Treasurer of the Board of Directors while Katie serves on the Social/Activities Committee.


“All I said when we found the community was ‘Katie, I wish we had moved here three years ago.’” George said. “We found everything we wanted under one roof and in one neighborhood.”