A recent survey done by Today's Homeowner https://todayshomeowner.com/moving/guides/aging-in-place-survey/ suggests that independence is the #1 reason why seniors prefer to remain living at home versus moving into a senior living facility. Another big reason when we have asked people about the preference for living at home is the monthly costs to move into a independent or assisted living facility. Many residential options cost a few thousand dollars a month. This can quickly eat away at retirement savings. The survey and article also provides other reasons seniors prefer to age in place.
What is one of the biggest stumbling blocks that make it difficult for seniors to remain living at their current home? The home no longer meets their accessibility needs like having too many stairs to climb both inside and outside the home or bathrooms where getting into a tub has become challenging and maybe even impossible.
While many people believe the cost to renovate is more than they can afford, it might be surprising to learn that there are some quick fixes that can greatly enhance the ability to get around the home. Here are a few suggestions:
A temporary ramp placed to bypass stairs outside the home. Ramps can be purchased or leased.
Stair lift for inside the home (there are some outside lifts as well) or vertical platform lift for outside the home.
Thresholds to prevent trips when there is a floor level change inside or outside the home
Installing a walk-in or small step-in shower with a seat, if desired. Some showers can be installed in a day and can be built where an existing tub is installed which doesn’t create moving walls and may have minimal plumbing changes, if any.
The above are just a few suggestions of the many options and opportunities available to assist homeowners in making their home more livable as they age.
Upfront costs may seem expensive when first evaluating, but when comparing monthly fees over a long period of time for assisted living, a cost benefit analysis may be in order to compare what will allow retirement funding to last longer.
Of course, a person's safety should be top of mind. There could be other reasons assisted living may be the best solution. If you have questions or want to discuss ways to improve the accessibility in your home, reach out to nic@knoxvilleaginginplace.com or call 865-637-1735. He will be happy to speak with you.