Make It Safe to Age in Place

Almost 90 percent of people 65 and over want to age in their current homes or communities, and 77 percent of those 50 and older want to remain in their current homes as they age, according to AARP surveys.

 

“Most people want to stay where they are comfortable and familiar,” says Ric Johnson. “They want to remain in the neighborhood where they have friends and know the stores and services. Many times, there are a lot of memories in their house.”

 

Johnson has given this subject a lot of thought. He’s CEO and president of CAPS Builder, which specializes in making renovations and building custom homes that allow for long-term living. He’s also a trustee for the National Association of Home Builders’ 55+ Housing Industry Council.

 

“If your home is comfortable and doesn’t have a lot of major underlying problems, then it’s probably worth remodeling,” says Johnson, who is a Certified Aging-in- Place Specialist (CAPS), a designation awarded to those who have completed the CAPS training program developed by the building association and AARP.

 

“It boils down to whether it’s a home where you can live mostly on one level,” he says. “Then the other levels can be used for storage or as a place where the kids and grandkids can stay when they come to visit.”

 

Weigh the Options

At some point, you’ll need to consider your options:

• Remodel your current home
• Build a new home
• Relocate to a retirement facility or community

 

Unfortunately, we’ll all have to weigh our options eventually. Make this decision part of your retirement plan and start evaluating your options in your 50s to be proactive as your circumstances may change.

 

Evaluate and Prepare

If you or your parents want to age in place, have the home evaluated and modified for safety and accessibility, says occupational therapist Lynda Shrager, a CAPS in Slingerlands, New York, and author of Age in Place: A Guide to Modifying, Organizing, and Decluttering Mom and Dad’s Home.

Shrager often gets calls from adult children who want her to assess their parents’ living situation. Most of the time, she goes to the residence, but she can also do an evaluation virtually.

 

She starts by watching the homeowner go in and out of the front and back doors. Then, she observes them in every room as they get on and off the furniture and toilet and in and out of the shower. “I watch them reach for their favorite cup and saucer in the cabinet,” she says. “By observing them navigate their homes, I can see where they are having trouble and what’s causing the trouble.”

 

After the assessment, she recommends modifications. “I have never done an evaluation that didn’t require adding grab bars,” Shrager says. They’re often added outside and inside the shower, as well as near the toilet and other areas of the house. Some products double as towel racks or toilet paper dispensers, she says.

 

Johnson says most of his clients remodel a section of the first floor to accommodate their needs or those of an aging parent. Some choose to add an in-law or caregiver suite to the main levels of their homes. Renovations are usually done in the kitchen, bath, and hallways. Plumbing and lighting may also need updates.

 

The goal is to make changes to the home without making it look like an institution or hospital, Johnson says. For instance, if a client needs handrails in the hallways, he adds a wainscotting rail that matches the decor of the house. “It looks elegant, not utilitarian.”

 

Johnson encourages people to try to live on one level, but, if necessary, he installs chairlifts. “We seldom add an elevator to an existing home,” he says, because an elevator needs an engineering study and drawing and requires quite a bit more research and planning.

 

Every project is different, but typically, Johnson’s clients spend $80,000 to $200,000 to remodel their homes. Most people recoup their investment when they sell the home because it now has a universal design, which makes the house accessible to anyone at any age, he says.

 

Build a New Home

Rather than remodeling, some people decide that starting fresh is the best solution. Customizing a new home allows for single-story living, adding wider hallways and doorways, eliminating all steps, and making bathrooms handicap accessible. Ideally, you can choose your community and stay close to your original home.

 

Analyze the Costs

Whether you’re inclined to remodel or build something new, when weighing the pros and cons of aging at home, you should factor in the costs of in-home care. Many older adults can stay in their homes with intermittent help from a caregiver, Shrager says. For instance, they may have someone come in for two hours in the morning and two hours in the evening to help with bathing, dressing, taking medications, and preparing meals.

 

Costs will vary depending on where you live and the level of care you need, but the median cost of home care in the U.S. is about $26 an hour. In West Virginia or Louisiana, the average price is $19 an hour. In Minnesota and Washington— the most expensive states for home care—prices hover closer to $35 an hour.

 

The same variation exists in prices for residential facilities, but near Albany, New York, a high-end nursing home is about $130,000 a year, and assisted living facilities cost around $75,000 or more, Shrager says.

 

We’re here to help you with your options and calculations to see what works best for your budget and retirement plan.

 

 

Source: CAPTrust/Broadridge Investor Communication Solutions, Inc.