At least three-fourths of American adults age 50 and older have one thing in common: they want to grow old in their own homes.According to a 2018 AARP survey, 76 percent of respondents prefer to stay put in the houses theyre living in now as they age, enjoying the familiar surroundings of the community they love and our guess is that the coronavirus pandemic has boosted that figure even higher.But will they be able to? Unless they start now to make their homes appropriate for aging in place, the answer is probably no.Home Renovations are Usually Overlooked in Retirement PlanningThere are some improvements you should consider making to your home today if you hope to age safely living there in the future.
This 2019 article from the Money website outlines three home renovations that the author, Alix Langone, claims will help you live independently as you get older.Many Americans spend decades preparing for retirement financially, but overlook another key aspect of planning: housing, Langone writes a statement with which we agree completely.Since so many older Americans want to remain in their homes as they age, its ironic that few are making modifications to help them accomplish that goal.Indeed, most people dont try to make their home more navigable until theres a crisis, says one Certified Aging-in-Place Specialist who spoke to Money.
One day everything is okay, they have their home, they can function okay, but then they fall, this planner says.This kind of crisis changes the whole trajectory of their life.Seniors Seem to Stubbornly Resist Making Necessary Home RenovationsIn spite of the obvious risks inherent in aging in a poorly-designed home, seniors seem to remain stubbornly resistant to recommended alterations that would make their houses safer.Sixty-five million households in the U.S.
are now headed by someone over the age of 50, says the Money article, quoting a report by the Joint Center for Housing Studies of Harvard University.Yet less than four percent of the countrys housing stock incorporates three vital features for aging in place: single-floor living, no-step entries, and extra-wide halls and doors, the report says.Depending on the age and design of your home, you may have to move in order to find such age-friendly features.But before you give up your home, its worth considering whether some strategic renovation is feasible.
The Money article gives you a place to begin.Here are some of the most practical home modifications older adults can make to continue living independently for as long as possible, along with cost estimates for each, says Langone.If they seem expensive, consider that the cost of inaction could also be high, in the form of pricey medical bills following an accident, or even the expense of relocating to a care facility if you can no longer stay at home.Three Home Renovations That Belong on Your To-Do ListLets look at three upgrades that top the Money list of age-in-place upgrades:Update Your Bathroom.
One in four Americans age 65-plus falls each year, Money warns, making falls the biggest cause of fatal and non-fatal injuries in older Americans.And the place where people fall the most? The bathroom.Installing grab bars by the shower and toilet generally costs around $150 each, the article says.
If you feel you want to undertake a more costly change, you can remove your bathtub and install a walk-in shower but figure on spending a minimum of $4,000-6,000.A full bathroom remodel can quickly run well into five figures, but for your peace of mind (not to mention resale value) it just might be worth it.Upgrade Flooring and Lighting.Consistency is the key here, says the Money Muscle weakness, joint pain and other issues can make it harder for older adults to navigate different surfaces, moving from hardwood hallways to a carpeted living room to tile in the kitchen, writes Langone.
Ideally each room will have similar flooring, with no fall hazards such as area rugs.Using similar lighting levels throughout the house is easier on a seni0rs declining vision, since aging eyes dont have to adjust from room to room.New flooring will generally cost $12-plus more per square foot (installed), and non-glare, long-lasting LED lights can run about $6 each.
Motion sensor lights and even remote-control lighting can be helpful for those with mobility issues.Widen Entryways and Install Wheelchair Ramps.Current recommended home-building standards require doors 32 inches wide, but older homes typically have doorways too narrow for wheelchairs and walkers, says the Money The ideal width is 36 inches, and the upgrade can cost a minimum of $400-$800 per door.Wheelchair ramps are not only helpful as you age, they can also add value to your home, but they will set you back: Money quotes $5,000-$6,000 for a temporary aluminum ramp and $12,000-plus for a permanent structure attached to a house with around eight steps.The Real Key to a Solid Estate Plan: an AgingOptions LifePlanWhen it comes to retirement planning, most people focus on one fairly narrow issue: money.
Financial planning is an important component of retirement planning.But people heading towards retirement often make the mistake of thinking that a little financial planning is all thats required, when in fact most financial plans are woefully inadequate.What about your medical coverage will that be adequate? What if you have to make a change in your housing status will that knock your financial plan off course? Are you adequately prepared legally for the realities of retirement and estate planning? And is your family equipped to support your plans for the future as you age? The best way we know of to successfully blend all these elements together finance, medical, housing, legal and family is with a LifePlan from AgingOptions.Thousands of people have discovered the power of LifePlanning and we encourage you to the same.Simply visit our website and discover a world of retirement planning resources.
Make certain your retirement planning is truly comprehensive and complete with an AgingOptions LifePlan.Age on!(originally reported at www.money.com/money)
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