Aging in Place, Can I Stay in My Home? Housing Considerations
Is it time to make some decisions regarding your next step in housing? One of the things to consider is the possibility of aging in place. Before you choose to stay in your home and make improvements to allow you to do so, you should consider the following questions. If you need help finding any of these options, call me.
- What other housing options and price is available? 55+ communities often offer wonderful opportunities for fellowship and activities that may interest you. My mother moved to a nursing home a year ago, I have never seen her as busy as she is now, games, art working, exercise-biking, something is going on all the time. She is almost too busy to visit when I call.
- What is the resale value and appreciation potential of your home? Homes have appreciated to a large extent over the prior 50 years, get a Comparative Market Analysis from your favorite real estate salesperson.
- What is your overall cost of living? Utilities, Taxes, home payments? Will you be better off living in a smaller home/apartment/etc? Smaller living space frees up money for other pursuits.
- Does your income support them? If not is a Reverse Mortgage an option? Reverse mortgage allows you to take equity out of your home to use to enhance your lifestyle, and it doesn’t get paid back unless you pass away or do not live in the home for over a year.
- Is there enough storage space? Storage space will determine how much of your must keep items you have space for. Don’t put anything you use regularly in the lower level of the home.
- Do you need to add alarms in bed and bathrooms?
- What sort of parking is available? For you and your family and friends.
- How much square footage of space will you be needing? Remember you may need to use a wheelchair in your future and they need more space.
- Is the space Barrier Free? No thresholds, wide doors and hallways.
- What are the fall hazards? Remove side tables and lamps/cords from walking paths, these are fall hazards.
- Are there age restrictions or age targets in the community?
- Who will maintain the property (lawn care, snow removal, etc.)?