Aging in Place - How to Prepare Your Home

For most of us who are approaching the age of retirement, staying in our own home is preferable to moving to an age restricted or retirement community. Many who advocate aging in place argue that neighborhoods need the diversity of several generations all living side by side and helping one another. However, before making the commitment to age in place for your retirement years, you should begin asking yourself some important questions:

1. Do I Have the Money to Age in Place?

One of the more important questions one needs to ask is if you can afford to stay in your own home in retirement. While many retirees have paid off their mortgage, some have not and that can be a huge debt burden. As you approach retirement look at what you need to do to pay your mortgage off like adding more payments to the principal. You will also need to look at home expenses even after you have paid the mortgage off. There will be utility bills, taxes, and maintenance costs that will continue while you retire in your home. If those expenses are too much, look into possibly downsizing to a smaller, less expensive home in your neighborhood.

2. Do I Need to Remodel My Home to Age in Place?

It is important to review your home and decide how suitable it will be for you during your retirement years. You may have a future where you will need wheelchairs or walkers and you will need a home that can accommodate them. Remodeling professionals who specialize in "all access designs" can evaluate your home and give you suggestions. Many times the remodel modifications are simple fixes to give your home a more accessibility. Remodeling experts have suggested these simple modifications to make your home age in place ready:

-Master Bedroom

The master bedroom needs to be accessible without climbing stairs. If you're the master bedroom is located upstairs, look ways to locate it downstairs.

-Outside Entryways

Any entrances into your home should be modified so that a ramp can be installed for those who might be wheelchair bound.

-Inside Doorways

All doorways and halls need to be sufficiently wide enough so that they can accommodate the width of a wheelchair.

-Bathrooms

Items needed in a bathroom to help make them aging in place appropriate grab bars located near tubs, showers and toilets.

-Kitchens

The kitchen can be a very dangerous space for those who have decided to age in place. Storage of food or pots and pans that needed step stools to reach or getting down on your hands and knees to access them could cause an accident. Meet with a storage professional who can help rearrange kitchens and storage areas so that items are easily accessed.

3. Do I Need Different Health Insurance to Age in Place?

Age-restricted communities do offer a range of medical assistance to those who reside in them. These communities offer their residents services from assisted living to major medical services and everything in between. Many people who have decided to age in place opt to purchase home health care medical coverage. This type of coverage can help those who decide to live at home with in- home physical therapy or short-term medical visits.