Aging-In-Place Upgrades: Promoting Independence in the Home
In the past, if someone had difficulty living by themselves, it was a signal that now was time to move in with family or go to a nursing home. But, for most people, that no longer is the case. Today, you can live on your own for many years, even as you grow older and start needing help with everyday tasks. This is called “aging in place.”
When you develop a chronic health condition, like diabetes, arthritis, or Alzheimer’s disease, aging in place means more that just staying put. You need a place to live that is safe and fits with your abilities. As driving becomes more difficult, it is important to access reliable and affordable transportation. A wide range of paid services may be available in your community. You may also want extra funds for family caregivers or for home modifications (such as a ramp or lift) that can extend the time you can live at home.
Americans of all ages value their ability to live independently. But without a plan for aging in place, it can be hard to stay in control of your life. Knowing your health risks and financial options can make a big difference in your ability to stay in a familiar place.
-- Information courtesy of National Aging in Place Council
Making Your Home Senior Friendly
The Home Maintenance Club offers advice and tips on how to make your home safe and more accessible through remodeling entry ways, bathrooms/bedrooms, kitchens, lighting, and in the yard. Accidents in the home can be avoided by preparing your home as you grow older. Remodeling can provide more space in the places you spend the most time in your home creating a more comfortable and safe environment to live.
What is a Reverse Mortgage?
If you’re 62 or older – and looking for money to finance a home improvement, pay off your current mortgage, supplement your retirement income, or pay for healthcare expenses – you may be considering a reverse mortgage. It’s a product that allows you to convert part of the equity in your home into cash without having to sell your home or pay additional monthly bills.
In a “regular” mortgage, you make monthly payments to the lender. In a “reverse” mortgage, you receive money from the lender, and generally don’t have to pay it back for as long as you live in your home. The loan is repaid when you die, sell your home, or when your home is no longer your primary residence. The proceeds of a reverse mortgage generally are tax-free, and many reverse mortgages have no income restrictions.
Reverse mortgage loan advances are not taxable, and generally don’t affect your Social Security or Medicare benefits. You retain the title to your home, and you don’t have to make monthly repayments. The loan must be repaid when the last surviving borrower dies, sells the home, or no longer lives in the home as a principal residence.
-- Information courtesy of the Federal Trade Commission
Aging in Place Remodeling Services
- Attached Garage
- Garage Door Opener
- Lever-Handle/Door Knobs
- Wider Doors (32-in. Clearance)
- Full Bath on Entry Level
- Wider Hallways
- Storage Space
- Front or Back Porch
- Bigger Bathrooms
- Washer and Dryer in Home/Unit
- Eating Counter in Kitchen
- Separate Shower and Bathtub
- Private Patio
- Easily Usable Climate Control (Thermostat)
- Kitchen Cabinets with Roll-Out Trays and Lazy Susans
- Windows That Can Open Easily
- Higher Toilets
- Extra Lighting
- Master Bedroom on 1st Floor in Two-Story Home
- Central Island in Kitchen
- No Steps at Entrance
- Grab Bars in Bathroom
- Compartmentalized Toilet
- Shower without Doors
- Seating in Bathroom
- Electrical Outlets Higher
- Non-Slip Floors
- Large Medicine Cabinet
- Electrical Switches Lower
- Wood-Burning Fireplace
- Kitchen Cabinets a Little Lower
- Emergency Call Button
- Round Vanities in the Bathroom