The Best Housing Solutions for Seniors

For most people, comfort and safety are the two most important factors when selecting the perfect place to grow old. However, that’s not always as easy as it sounds for seniors. Here are several tips from Tyler Vincent Real Estate on how to find the best place to spend your golden years and how to make the space work best for you.

Get a Handle on Your Finances

Knowing what you can afford makes a big difference in how you start your housing search. With that in mind, if you’re a homeowner, one factor will be your current property and it’s value. You can use this home value estimator from Chase Bank to get a feel for how much your home is worth. Whether you decide to sell your home and move or modify it so you can age in place safely and comfortably, the equity you have in your home will play a big role in your decision.

You’ll also need to take a look at your budget, including your retirement savings accounts, social security or disability payments, and any other forms of income. Whether you qualify for a loan, how much you can afford to spend on a monthly basis, and how much you will have to make modifications and/or cover future healthcare needs as you age should all factor into your housing choice.

Senior-Specific Housing Options

More and more often, seniors are choosing to spend their golden years in communities designed to meet the specific needs of aging adults. For some people, that means bidding farewell to their homes and moving into an independent living facility. This is especially true for individuals who no longer wish to maintain a home and want such quality-of-life amenities as laundry services, meal preparation, and scheduled social activities, to name a few. What’s more, seniors can continue to maintain their independence by living in an apartment-style dwelling that features a kitchen, bedroom, and living spaces. Some of these communities, known as Continuing Care Retirement Communities or CCRCs, also provide live-in home care as your health needs change.

For aging adults who live alone and already have considerable health concerns, it may be time to look into a skilled nursing facility. These facilities provide a safe environment for seniors with conditions like Alzheimer’s, diabetes, and kidney disease that require around-the-clock care. Like with any housing choice, it’s important to research these facilities to ensure they provide quality care at a price that fits your budget. In Brooklyn, for example, you can start by looking at reviews and pricing information online before you visit your top choices in person.

If you go either of these routes, selling your current home quickly and at top-dollar will become a top priority, as you will likely need to use the cash from the sale of the home to finance your monthly living expenses. While these communities offer amenities and services you won’t get if you manage your own home and care, they will cost you more than other housing options.

Buying or Renting A New Home

If you are thinking of buying or renting a new home, keep in mind that some homes are more senior-friendly than others. Single-story homes, for example, won’t have stairs to navigate. Open floor plans with large doorways and hallways are easier to move through if you end up needing a walker or wheelchair. Lots of natural lighting can help you see better and improve your sleep as you age. And easy-care materials, like vinyl siding, take less time, energy, and money to maintain.

Once you have your list of wants and needs, it’s time to begin the home search. While you can search online to see what properties are available, you will want to contact a local real estate agent who knows the area well. In addition to an innate knowledge of the market, agents have access to listings and information that the general public doesn’t, so they’ll be able to help you find exactly what you’re looking for in a home.

Modifying Your Current Home

If you choose to stay in your home, it will be important to consider potential accessibility issues. Even if navigating your space isn’t difficult for you right now, it can become more hazardous as you get older. That’s why it’s best to address the most common concerns before they become a problem.

For example, if you have stairs, even just a few, plan to make some key changes. Add railings on both sides, mark the step edges with contrasting colors, and ensure they have a non-slip surface. Open up doorways will likely require some professional help, while removing rugs and improving lighting to prevent falls are easy, DIY projects. 

You may need to budget for significant renovations in the bathroom and kitchen, as that is where many accidents occur. Since the combination of water with slick surfaces can be a recipe for trouble, a threshold-free shower with a seat and hand-held showerhead is a boon, and adding grab bars and a taller toilet eases transitioning. You should also consider things like pull-out drawers for storage to ease your back and knees, rounded edges on countertops instead of square to help with navigation, and a sink close to the stove to ease meal prep.

A home that suits your needs as you age is a must-have. Do some research, and think through your priorities. With these smart solutions, you can have a safe, comfortable home that meets your needs now and all through your golden years.