Are you wondering how Disability Can Impact you? Finding and affording to the house can be a challenge for anyone, but this is especially true for people with disabilities. Unfortunately, many people with disabilities struggle financially, making it difficult to purchase a home. Additionally, these people must consider their physical needs as far as the layout of the home. Let’s delve a bit further into how disability can impact you as a homeowner.
Finances
As mentioned, Some Home owners with disabilities tend to make less money than those without disabilities. Luckily, there are several resources to aid these people in achieving homeownership. Organizations such as the Department of Housing and Urban Development and the Federal Housing Administration can help.
Some people with disabilities may qualify for Supplemental Security Income (SSI) or Social Security Disability Insurance (SSDI). In either case, this extra income can aid you in affording your own home.
Those with disabilities may also qualify for special property tax exemptions. These exemptions can lower the annual taxes that an individual would pay on their home. These tax exemptions can vary by state and local area. For instance, in California, only disabled veterans are eligible for property tax exemptions.
There are also quite a few nonprofit organizations you can work with. For instance, Habitat for Humanity can help provide housing for those with low income. Once you’ve purchased your home, Rebuilding Together can help upgrade your residence. Looking into more local resources is also a good way to find assistance.
Accommodations
People with disabilities are able to request accommodations under the Fair Housing Act. For instance, wheelchair users can request a lowered mailbox for their convenience. In some cases, more substantial improvements are needed to the home. Homeowners can look into grants for home modification in these cases.
There are a few common modifications that a person with disabilities may need to make for their home. (Of course, these modifications can vary from case to case.) It may be necessary to build a ramp or add a staircase chairlift for wheelchair users. Relocating light switches or adding grab bars to showers and toilets may also be necessary.
In addition to the aforementioned grants, you may take advantage of tax breaks. The IRS allows people with disabilities to deduct some of the costs of living with a disability. It’s most useful to work with an accountant to see what expenses you may be able to remove.
While homeownership can be difficult for people with disabilities, it’s not impossible. It just takes a bit of extra research and planning. If you already own a residence and need to relocate, you’ll need to sell your current place. To do that, consider Inhouse Offer. We buy houses in Inland Empire, California, and make it easy to get your home sold fast. We pay in cash and get your money in just a couple of weeks. You can then use that extra income to purchase your next place! Contact us today to learn more!
