The
data
is
clear:
Older
adults,
when
contemplating
future
living
arrangements,
would

prefer
to
remain
in
their
homes
as
long
as
feasibly
possible.
But
for
those
who
own
homes
with
features
or
layouts
that
may
not
be
conducive
to
aging
in
place,
some
are
taking
proactive
measures
—
and
spending
a
lot
of
money
—
to
make
their
home
suitable.

This
is

according
to
a
story
published
this
month
by
the

The
Associated
Press,
which
examines
steps
that
some
older
homeowners
are
taking
to
ensure
they
can
remain
in
their
homes,
as
opposed
to
relocating
to
a
dedicated
care
facility
or
another
living
arrangement.

One
profiled
couple
in

California
hired
an
interior
designer
for
$20,000,
and
spent
another
$95,000
on
home
modifications
designed
to
more
easily
accommodate
natural
limitations
to
mobility
that
come
from
aging.

“She
had
the
kitchen
aisles
widened
to
accommodate
a
wheelchair
in
case
she
or
her
husband
ever
need
one,”
the
story
explained.
“The
bathroom
now
has
a
walk-in
steam
shower
and
an
electronic
toilet
seat
that
cleans
the
user
when
activated.”

When
asked
about
the
reason
for
making
these
investments,
the
wife
described
their
desire
to
maintain
the
comfort,
familiarity
and
pride
in
the
home
they’ve
lived
in
together
rather
than
giving
them
up.

While
aging
in
place
is
a
common
choice,
economic
and
mortgage
market
realities
are
also
making
it
difficult
to
relocate
even
if
someone
may
want
to.
Between
elevated

interest
rates
and
the

resulting
“lock-in”
effect,
home
prices
and
limited
inventory
levels
are
also
making
relocations
challenging
for

baby
boomers
and
older
members
of

Generation
X.

“Despite
feeling
tied
down,
a
subset
of
these
older
adults
have
enough
extra
cash
to
splurge
on
upgrades
designed
to
keep
their
homes
both
enjoyable
and
accessible
as
they
age,”
the
story
said.
“The
demand
for
inconspicuous
safety
bars,
lower
sinks,
residential
elevators
and
other
amenities
has
given
home
improvement
chains,
contractors,
designers
and
architects
a
noticeable
lift.”

Some
of
the
chains
reporting
increased
renovation
and
modification
activity
include

The
Home
Depot
and

Lowe’s,
two
of
the
largest
home
improvement
retailers
in
the
U.S.
The
Home
Depot
is
refreshing
an
in-house
brand
with
accessibility
in
mind
for
things
like
grab
bars
and
easier-to-use
faucets.
Meanwhile,
in
2021,
Lowe’s
established
a
single
stop
for
items
including
wheelchair
ramps
and
shower
benches,
the
story
explained.

Customers
looking
for
products
and
tools
to
enhance
their
home’s
accessibility
seek
“bathrooms
that
exude
beauty
and
elegance,
with
essential
accessibility
features
seamlessly
integrated,”
according
to
Lowe’s
trend
and
style
director
Monica
Reese,
who
spoke
with
the
AP.

The
need
for
such
renovations
will
only
become
more
pressing
as
time
goes
on,
due
both
to
demographic
trends
and
a
suitability
for
aging
in
place
that
can
be
lacking
in
existing-home
inventory.

“According
to
a

2023
analysis
of
the
2011
American
Housing
Survey
by
the

Joint
Center
for
Housing
Studies
(JCHS)
of
Harvard
University,
less
than
4%
of
U.S.
homes
combine
single-floor
living
with
no-step
entry,
and
halls
and
doorways
wide
enough
for
wheelchairs,”
the
story
said.

Additionally,
the
Harvard
study
found
that
“20%
of
survey
respondents
age
80
and
above
with
incomes
below
$30,000
reported
accessibility
challenges,
compared
to
11%
for
those
with
incomes
of
$75,000
or
more.”

This
means
that
renovations
of
existing
homes
are
likely
to
become
more
necessary
as
time
goes
on.
But
there
is
also
a
need
to
address
accessibility
challenges
in
affordable
housing
for
older
people,
which
will
require
a
public
policy
solution,
according
to
Jennifer
Molinsky,
director
of
the
JCHS
Housing
an
Aging
Society
Program.

“[T]here’s
a
lot
of
disparity,”
she
said.
“There
are
people,
through
no
fault
of
their
own
or
for
systemic
reasons,
who
may
not
have
the
money
to
modify.”

Reverse
mortgage
companies
in
the
past
have
engaged
in
renovation
partnerships,
and
they
have
advertised
home
modifications
to
facilitate
aging
in
place
as
a
potential
use
case
for
loan
proceeds.

In
a

2019
interview
with
RMD,
Molinsky
said
that
home
equity
could
have
a
place
in
funding
some
of
these
necessary
modifications.
It
could
play
a
role
in
alleviating
the
increasing
prevalence
of
aging-associated
financial
burdens
for
senior
homeowners.

“I
don’t
think
we
know
enough
[yet]
about
where
society
is
going,
but
it
is
true
that
fewer
people
have
pensions,”
Molinsky
said
in
2019.
“So,
I
think
there’s
a
good
reason
to
think
that
home
equity
becomes
an
important
source
of
money
for
people
who
don’t
have
those
pensions
or
haven’t
been
able
to
save
up
in
their
401K
or
IRA.”

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