In many cases, a home you own often won't count against you for a variety of supplemental support. That said, there are some cases when exceptions apply where it will, such as some cases, i.e. if both under 65 & income you produce from the home could disqualify you (i.e. renting out rooms).
Homeownership typically helps, not the other way around.
In most cases, the longer that you've owned a home (or the stronger your equity position, i.e. cash purchasers), the more that having a home will help you if you become disabled or retire. When it comes to assistance for the disabled &/or low income, cost reducing options are critical, as it's your income primarily, in some cases your disability, & in some cases non-excluded assets that count against you.
Section 8: There are Ownership Options with It
Social Security Including SSI & SSDI:
SSI Supplemental Security Income: Home Ownership Not Typically Counted Against Someone
SSI: Public Shelter 2/3 Rule Could Negatively Impact SSI
SSI: Other Living Situation Potential Negative Impact to SSI
More on Social Security Exclusion of the Home
SSDI Social Security Disability Income: Home Ownership Not Typically Counted Against Someone
SS Social Security Retirement Income
Disclaimer
Medicaid: Home Typically Excluded
Per dss.virginia.gov "REAL PROPERTY EXCLUSIONS FOR THE AGED, BLIND AND DISABLED" document:
Medicaid: Disclaimer
Medicaid: Home Definition & Impact Basics: Home Typically Excluded
Medicaid: Nursing Homes
Medicaid: When Real Property Other than the Home Doesn't Count Against You
Medicaid: Selling Real Property
Medicare: No Negative Impact by Homeownership
Mortgages & Programs to Reduce Home Cost
About the Author: Adam Garrett - 3rd Generation REALTOR®
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