Financially, It’s Worth Tweaking

The average cost in the United States to live in an assisted living community is upwards of around thirty-six hundred dollars a month, that is roughly forty-two thousand dollars a year.  Age in place modifications for the average single-story home on the other hand are roughly between ten and fifteen thousand dollars.  That is one heck of a cost savings over the course of seven to ten years.  If simple age in place modifications can keep you at home even one year longer than you anticipated the amount you save is astronomical.

Don’t Over Complicate

Even the smallest updates can make a huge difference in how you co-exist with your home.  Start with something as little as replacing the hardware on doorknobs, cabinets, and more.  In bathrooms it is important to install sturdy grab bars, replace dual faucets with single-handled faucets, upgrade the toilet to a comfort height style, and increase the amount of lighting.  Kitchens are much like bathrooms with the addition of roll-out shelving and undercabinet lighting.

Renovate for Accessibility

Accessibility modifications are costlier than the previously mentioned simpler updates in hardware and lighting but can add more independent living years for you.   Consider installing a handicap ramp to entry ways with steps.  Depending on the length and incline needed a wheelchair ramp can be installed for under three thousand dollars.  Another common accessibility renovation that is recommended is the installation of a lip free shower.  If you choose custom-tiles, upgraded materials, fixtures, and fixings a custom, curb-free shower can run a family up to fifteen thousand dollars whereas simple, modular options run around three thousand dollars installed.

Think Bigger

Sometimes structural changes to the home are needed.  Some of these options can include widening doorways, creating a more open floor plan by eliminating walls, and event he addition of elevators in some cases.  If you are doing a major renovation to the home that is the time to think about the longevity of your life in the home.  It is less expense to do large structural changes while doing major renovations within your home.

Considering Using the Equity in Your Home

With the equity that has built up in your home over time there are multiple ways to pay for age in place modifications:

• Cash-Out Refinance of Your Mortgage
• A Home Equity Loan
• Line of Credit
• Reverse Mortgage

Glen Miller the Home Doctor is a licensed general contractor servicing Livingston County and the surrounding areas.  Glen offers a wide range of services including home maintenance plans, age in place remodeling, kitchen and bathroom remodeling, finished basements, and hardwood floor refinishing.  More information can be found online at https://www.glenmillerthehomedoctor.com/.

Although a new concept, aging in place has become a notion that not only seniors but middle-aged people have started to appreciate the importance of.  Not only does it make sense because it makes life easier for you but also from a financial stand point.

No one ever wants to discuss getting older and not being able to care for themselves as they are today.  Trust me, I get that; I know for me it is one thing that is brought up all to often among my kids when talking with me and it is the last thing I really want to talk with them about.  However, the facts exist, whether we want to talk about it or plan for it, we will get older.

It is important to understand that if your goal is to remain in your home for as long as possible then the sooner you start preparing for the aging process the better.  Yes, you may only be in your forties but if you are already considering renovations around the home then you should start to include features that will make it easier to grow old with.

Aging isn’t really the problem.  The issue arises from the affects of aging.  There are several changes that occur mentally, physically, and your abilities overall tend to slow down.  It becomes harder to navigate the terrain later in life as the freedoms you once had become more difficult.

What Are Dangers In Waiting to Renovate To Accommodate Aging Needs

There are two areas in which I want to focus today as we discuss aging and the desire to stay within our homes, caring for ourselves: What are the most realistic dangers physically, mentally, and financially? and What will occur if you wait to act now?

Risk Of Falling

The biggest issue found in emergency rooms involving seniors comes from accidental falls.  Not only does the fall impact you today but also your future lifestyle.  Protecting yourself from accidental spills around the home is just one of the precautions that need to be considered sooner than later.  If you are considering an update to your flooring be sure to use materials that offer some type of slip resistance, even when wet.  The flooring should also take into consideration navigation, if a wheelchair or walker should be needed, the ease of maintenance, as well as the about of cushion and comfort it provides.  A side effect of falling is an increase in serious, debilitating, long lasting issues from broken hips to an increase in dementia.  It is crucial that steps are taken very early on to prevent the risk of falling as a fall will significantly decrease your quality of life.

If you wait to start planning and remodeling until after an incident you are really putting yourself in danger not only physically but mentally and financially as well.  The less able you are to take care of your self the more mentally frustrated you will become.  Especially for those of us who have remained active and are living a physical lifestyle.  Financially we are also affected because are ability to earn income will decrease and our care expenses will increase.

It comes down to the reality that designing and preparing your home for aging in place when renovating not only is a solid financial investment but also makes your home safer to live in right now.  Added safety around your home whether you are in your thirties or fifties can’t hurt.   Age in place remodeling helps increase your longevity and preventing accidents such as unexpected falls.   Without remodeling with aging in mind you could lose tens of thousands of dollars each year as you pay for assisted living and nursing home care.

Glen Miller the Home Doctor is a licensed general contractor servicing Livingston County and the surrounding areas.  Glen offers a wide range of services including home maintenance plans, age in place remodeling, kitchen and bathroom remodeling, finished basements, and hardwood floor refinishing.  More information can be found online at https://www.glenmillerthehomedoctor.com/.