The Financial Benefits of Aging in Place: A Guide for Seniors and Their Families in Vancouver

As we grow older, facing the prospect of moving into a care home is daunting for many. The idea of leaving our homes’ comfortable and familiar surroundings, filled with cherished memories, can be unsettling. However, another option is aging in place, which essentially means staying at home as we age. 

This not only offers emotional comfort but also brings substantial financial benefits. In this comprehensive guide, we’ll delve into the monetary advantages of staying in your own home during your golden years and the improvements you can make to ensure your home remains safe and comfortable.

We’ll also explore professional remodelling services in Vancouver that specialize in optimizing homes for aging, like the Handyman Connection. So, let’s jump in and explore aging in place home repairs and how you can make the best of your home as you age. 

Staying in your home as you age isn’t just about comfort, it’s about taking control of your later years and creating a financially wise, safe, and healthy lifestyle in your own home.

What are the financial benefits?

When considering the financial impacts of living arrangements for seniors, aging in place can offer substantial savings compared to moving into a long-term care home.

Firstly, living in your home means you don’t need to pay for the room, board, and services that long-term care homes generally provide. Staying at your own place can save thousands of dollars monthly and reduce overall financial stress. 

Savings from staying at home

Our research shows that the median cost for a semi-private room in a nursing care facility is about $7,300 per month.

Consider a hypothetical scenario where a senior homeowner, who owns his/her home outright in Vancouver, chooses to age in place. Instead of paying this monthly fee to a care home, he/she decides to invest in remodelling the home to suit the changed needs of aging.

Even if they end up spending $30,000 on remodelling, which is much higher than most people would need to spend, it would take less than five months in a care home to spend an equivalent amount.

What are some other benefits?

Many benefits of aging at home extend beyond the purely financial. These include psychological, emotional, and physical advantages that can contribute to a happier and healthier senior life. Let’s explore further: 

• Comfort and familiarity: Aging in place allows people to stay in the environment they are comfortable with and familiar with. This familiarity can offer a sense of security and reduce the stress associated with moving to a new place.
• Independence and Control: Maintaining independence and control over one’s routine and choices is a significant benefit. Seniors can continue to live by their own rules and schedules without the constraints of a care home regimen.
• Improved Health: The comfort of home can contribute to overall health and well-being, reducing risks related to stress and depression. Customized home modifications can also reduce the risk of injuries due to falls or accidents.
• Personalized Care: When personal care or support is needed, it can be tailored to the specific needs and preferences of the individual. This flexibility is often not possible in a long-term care home.

Recognizing the importance of these benefits and the growing trend towards aging at home, many professional services now specialize in senior remodelling. These are designed to adapt homes to the changing needs of people, ensuring that their living spaces are safe, convenient, and comfortable. 

How can home remodelling provide financial benefits for seniors?

For many, the comfort and familiarity of home are irreplaceable. Aging in place allows seniors to enjoy their golden years in the ambiance they love while also offering valuable financial benefits. One vital strategy is aging in place remodelling the home to be senior-friendly, eliminating the significant costs of long-term care homes or over 65 living communities. Below, we will delve into how such an approach could positively impact your finances and other profound perks of aging in place. 

When compared to the hefty monthly expenses of long-term care homes, investing in home remodelling for aging in place may appear like a much more economical route. Strategic remodelling, carried out in a planned manner, can be spread over a longer time, meaning you bear with the costs once instead of recurring payments associated with care homes. This not only affords an element of financial predictability but also contributes to overall savings in the long run. 

Furthermore, remodelling your home also staves off the potential loss from selling your home, typically a significant component of a senior’s net worth. Retaining ownership of your dream home may also allow you to leverage it against a home equity loan or reverse mortgage should you need additional financial support. 

What specific home modifications are recommended?

As seniors opt for staying in their homes rather than downsizing, it becomes critical to update their homes for safety, accessibility, and comfort. A few essential modifications can turn a traditional home into a haven designed for comfortable aging. 

1. Grab Bars: Installing grab bars in the shower not only adds an extra level of safety but also enables independence. These bars provide a steady support while bathing and can prevent slips and falls.
2. Shower Seat: Combining a shower seat with grab bars provides ample rest and support during a shower routine. It’s an effective way of promoting self-care.
3. Lever Handles & Touch Switches: Replacing doorknobs with lever handles and traditional light switches with rocker or touch switches makes the home more accessible and user-friendly. These adaptations require less effort to operate, reducing the risk of hand and wrist strain.
4. Sensor Lighting: Install sensor lighting at each entry to avoid falls in low-light situations. These lights automatically turn on when they detect movement, providing brightness when and where it’s most needed.
5. Pedal Controls & Lever Handles for Sink Faucets: This offers an ease of use to seniors while washing dishes or hands.
6. Glare-Free, Slip-Resistant Flooring: Replace hardwood floors or tiles with slip-resistant flooring. This modification can significantly reduce the risk of slips and falls, both of which are common issues.
7. Bathroom Sink with Knee Space: Removing cabinets under the bathroom sink to accommodate knee space can make a big difference for those who use a wheelchair or walker.
8. First Floor Living: Make the first floor completely liveable, eliminating the need to climb stairs which can be challenging for seniors. This refers to having a full bathroom, bedroom, and kitchen on the ground floor.

While these home modifications may seem overwhelming, an expert handyman or a skilled remodelling service can handle these tasks efficiently. The professional remodelling services provided by companies like Handyman Connection ensure the highest quality work, allowing seniors to live in their familiar environment safely and comfortably. Any person considering aging in place home care should consult with a professional to receive personalized advice and solutions. 

How can a professional remodelling service help seniors age in place?

Embracing the concept of aging in place necessitates a proactive approach toward making your home safer and more comfortable. Fortunately, a reputable professional remodelling service can assist in this endeavour, transforming your home into a sanctuary that accommodates your changing needs. 

aging in place remodelling goes beyond aesthetic appeal. It’s about integrating practical modifications to enhance your daily living. Let’s delve into some ways that professional services can help: 

• Installing grab bars in the shower: These can provide necessary support, especially on potentially slippery surfaces, lowering the risk of falls.
• Replacing doorknobs with lever handles: For seniors with arthritis or dexterity issues, lever handles are easier to operate than traditional doorknobs.
• Replacing traditional light switches with rocker or touch switches: This straightforward modification can significantly enhance usability and ease of operation.
• Providing sensor lighting: Adequate illumination, especially at entrances, is crucial for navigation and can prevent stumbles.
• Installing lever handles or pedal controls for sinks: This makes the faucets easier to operate and can also conserve water usage by preventing accidental overflow.
• Door-widening hinge installation: An incredibly practical approach to ensure accessibility throughout the home. Wider doorways can greatly benefit seniors with mobility aids, making navigating through each room easier.
• Stairlift installation: Taking the stairs can become an obstacle with age, therefore installing a stairlift can provide a safe, comfortable way to access different levels of your home. It eliminates the need to climb stairs and vastly improves the ease of movement.
• Installation of roll-out shelves in the kitchen: A great way to make kitchen storage more accessible. Roll-out shelves remove the need for bending and reaching, significantly decreasing the risk of injury and increasing user convenience.
• Door camera/caregiver camera installation: Safety comes first as we age. Therefore, installing surveillance systems such as door cameras and caregiver cameras can offer peace of mind by ensuring home security and promoting 24/7 safety for seniors living at home.

Furthermore, a wholesome remodel may involve making the first floor of your home completely liveable – eliminating the need to climb stairs. It may include replacing hardwood floors or tiles with slip-resistant flooring or removing cabinets under bathroom sinks to accommodate knee space for wheelchairs. 

The complexity of these tasks requires expertise and an experienced hand. This is where Handyman Connection comes in. As a leader in remodelling, they understand the unique needs of seniors and design comprehensive solutions that address both safety and comfort considerations. 

Helping Hands: Engage a Professional Home Remodelling Service 

However, just the decision to age in place does not guarantee a comfortable and safe environment. That’s where professional remodelling services, like the Handyman Connection, come into the picture. They specialize in aging in place remodelling, which means they have the experience and knowledge to recommend and implement changes in your home to remain accessible and secure as you age. 

A professional handyman service can make this transition smoother by taking care of all remodelling needs. Be it replacing traditional light switches with touch switches or removing cabinets under the bathroom sink to accommodate knee space, experienced professionals handle everything. A remodelling service helps suggest modifications based on the senior’s immediate and future needs, thus proving to be a great long-term investment. 

The conclusion here is simple. aging in place home care offers financial benefits and emotional well-being, which comes from staying in a familiar environment surrounded by a known community. So, if you’re thinking of staying in your home and need help remodelling your home to accommodate those needs, don’t hesitate to contact Handyman Connection. You’re not just investing in modifications to your home – you’re investing in your comfort, safety, and peace of mind. 

To learn more about the precise benefits Handyman Connection in Vancouver can bring to your aging in place journey, request an estimate.