Weighing Your Senior Home Care Choices: A Practical Guide

As they enter their later years, the majority of seniors (87 percent according to one AARP
survey) prefer to “age in place” staying in the home they already reside in. If you’d like to
age in place, you can prepare now by setting up your home to accommodate your future
needs. Most people choose one of three senior home care options: making modifications to
their existing home, buying a new senior-friendly property, or transitioning to an assisted
living facility. Which one is right for you? Read on to learn about what you need to know
before making your decision.

Assess your financial needs

Any of the senior home care options discussed here will require a financial investment. If you choose to stay in your current home, you will have to make renovations so that it’s safe and accessible for your later years. Common senior-friendly improvements include widening hallways to accommodate wheelchairs and adding grab bars in the bathroom. Bathroom remodeling alone averages $12,500 – $15,000, so the cost of tackling an entire property can
add up.

Alternatively, if you decide to move to a new house, you have to make sure you have the
money needed for a down payment. This is usually anywhere from 5 to 20 percent of the
total sale price of the home. Finally, if you decide to move to an assisted living facility, you
must plan to pay monthly fees for your room and board for years to come.

It’s wise to calculate how much cash you will need to cover ten, twenty, or even more years of fees. The
average cost of assisted living in Arizona is $3,420 per month.

Educate yourself about the housing market

When calculating your financial needs and weighing your options, take the time to examine
the housing market. If you want to sell your home, you need to know how much you can
expect to get, as this chunk of change will potentially fund your next property purchase or an
assisted living facility. If you want to buy a new property, you need to calculate how much of
a down payment is needed based on a percentage of the price. For example, in Phoenix,
buyers have been paying an average down payment of 17.9 percent over the last month.

Go online to examine how much properties in your area are selling for and to check the
prices of real estate in areas you may be considering moving to. Don’t just look at averages
in certain neighborhoods but choose properties similar to the one you are trying to sell or buy
in terms of size and amenities. There’s no point in scanning the costs of six-bedroom
mansions when what you’re looking for is a cozy one-bedroom!

Consider your personal wishes

Money is a major concern for seniors, with 59 percent of Americans worried they won’t have                                                        enough to last them through retirement. While finances understandably will and should be a
factor as you weigh your senior home care options, they shouldn’t be the only factor. Think
about what matters to you in terms of location, for instance. Do you want to move closer to
your children and grandchildren, or are you well settled in your current neighborhood?

Community in general is important for seniors, who may otherwise find themselves feeling
isolated and depressed due to lack of social contact. This can make assisted living
extremely appealing to some seniors because the arrangement gives you a built-in social
network. It also means that you receive help for some of your daily tasks like cleaning and
cooking, giving you more time to focus on hobbies and friends—not staying in touch with old
pals is among seniors’ biggest regrets!

The bottom line is that you should identify what values matter to you the most and make
sure to keep these in mind when weighing your senior home care options. Remind yourself
that preparing for senior home care is above all a question of ensuring your own comfort,
security, and happiness in your later years. This decision should be one that leaves you
feeling confident and content at the end of the day.
Photo Credit: Pexels.com

Information provided by: Harry Cline NewCareGiver.org