{"id":476,"date":"2020-02-05T15:33:57","date_gmt":"2020-02-05T15:33:57","guid":{"rendered":"http:\/\/phphouses.com\/blog\/?p=476"},"modified":"2020-02-05T15:36:40","modified_gmt":"2020-02-05T15:36:40","slug":"does-aging-in-place-make-the-most-sense","status":"publish","type":"post","link":"https:\/\/phphouses.com\/blog\/does-aging-in-place-make-the-most-sense\/","title":{"rendered":"Does \u201cAging in Place\u201d Make the Most Sense?"},"content":{"rendered":"\n
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Group of an architect feel stressed after working on architecture model together with shop drawing paper on table in office<\/figcaption><\/figure>\n\n\n\n

A desire among many seniors is to \u201cage in place.\u201d According to the Senior Resource Guide<\/em>, the term means,<\/p>\n\n\n\n

\u201c\u2026that you will be remaining in your own home for the later years of your life; not moving into a smaller home, assisted living, or a retirement community etcetera.\u201d<\/em><\/p><\/blockquote>\n\n\n\n

There is no doubt about it \u2013 there\u2019s a comfort in staying in a home you\u2019ve lived in for many years instead of moving to a totally new or unfamiliar environment. There is, however, new information that suggests this might not be the best option for everyone. The familiarity of your current home is the pro of aging in place, but the potential financial drawbacks to remodeling or renovating might actually be more costly than the long-term benefits.<\/p>\n\n\n\n

A recent report from the Joint Center for Housing Studies of Harvard University<\/em> (JCHS) titled Housing America\u2019s Older Adults<\/a> explained,<\/p>\n\n\n\n

\u201cGiven their high homeownership rates, most older adults live in single-family homes. Of the 24 million homeowners age 65 and over, fully 80 percent lived in detached single-family units\u2026The majority of these homes are now at least 40 years old and therefore may present maintenance challenges for their owners.\u201d<\/em><\/p><\/blockquote>\n\n\n\n

If you\u2019re in this spot, 40 years ago you may have had a growing family. For that reason, you probably purchased a 4-bedroom Colonial on a large piece of property in a child-friendly neighborhood. It was a great choice for your family, and you still love that home.<\/p>\n\n\n\n

Today, your kids are likely grown and moved out, so you don\u2019t need all of those bedrooms. Yard upkeep is probably very time consuming, too. You might be thinking about taking some equity out of your house and converting one of your bedrooms into a massive master bathroom, and maybe another room into an open-space reading nook. You might also be thinking about cutting back on lawn maintenance by installing a pool surrounded by beautiful paving stones.<\/p>\n\n\n\n

It all sounds wonderful, doesn\u2019t it? For the short term, you may really enjoy the new upgrades, but you\u2019ll still have to climb those stairs, pay to heat and cool a home that\u2019s larger than what you need, and continue fixing all the things that start to go wrong with a 40-year-old home.<\/p>\n\n\n\n

Last month, in their Retirement Report<\/a>, Kiplinger<\/em> addressed the point,<\/p>\n\n\n\n

\u201cRenovations are just a part of what you need to make aging in place work for you. While it\u2019s typically less expensive to remain in your home than to pay for assisted living, that doesn\u2019t mean it\u2019s a slam dunk to stay put. You\u2019ll still have a long to-do list. Just one example: You need to plan ahead for how you will manage maintenance and care\u2014for your home, and for yourself.\u201d<\/em><\/p><\/blockquote>\n\n\n\n

So, at some point, the time may come when you decide to sell this house anyway. That can pose a big challenge if you\u2019ve already taken cash value out of your home and used it to do the type of remodeling we mentioned above. Realistically, you may have inadvertently lowered the value of your home by doing things like reducing the number of bedrooms. The family moving into your neighborhood is probably similar to what your family was 40 years ago. They probably have young children, need the extra bedrooms, and may be nervous about the pool.<\/p>\n\n\n\n

Bottom Line<\/strong><\/h3>\n\n\n\n

Before you spend the money to remodel or renovate your current house so you can age in place, let\u2019s get together to determine if it is truly your best option. Making a move to a smaller home in the neighborhood might make the most sense.<\/p>\n\n\n\n

Contact us:
PHP Houses<\/a>
142 W Lakeview Ave
Unit 1030
Lake Mary, FL 32746
Ph: (407) 519-0719
Fax: (407) 205-1951
email: info@phphouses.com<\/a><\/p>\n\n\n\n

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<\/p>\n","protected":false},"excerpt":{"rendered":"

A desire among many seniors is to \u201cage in place.\u201d Finish Reading Does \u201cAging in Place\u201d Make the Most Sense?<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":477,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[36],"tags":[100,18,27,91,57,86,52,32,83,25,49,63,20,12,48,28,54,101,47,19],"_links":{"self":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/476"}],"collection":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/comments?post=476"}],"version-history":[{"count":1,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/476\/revisions"}],"predecessor-version":[{"id":478,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/476\/revisions\/478"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/media\/477"}],"wp:attachment":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/media?parent=476"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/categories?post=476"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/tags?post=476"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}