Finding Senior citizen-owned homes to purchase

[Jimmy Suszynski]

Hello all,

I am currently using an FHA loan to house hack a duplex. I have access to the VA loan, which I plan to use for the next house I call home.

Has anyone had success in finding homes owned by folks on the verge of downsizing or moving into senior living facilities? It is very difficult to find properties that the VA will approve that also have room for improvements to get equity.

Ideally, I would like to find a house that hasn't been updated for 15-20 years (ugly), that could maybe use an additional bedroom and bathroom so that I can gain equity quickly. I'm aware this is hard to come by, however, I feel like senior-owned homes may be a good avenue.