The “Happy at Home” Checklist for Aging in Place
According to AARP, 77% of adults age 50 and over want to remain in their homes for the long term. But remember, successfully aging in place means living comfortably and independently with access to the necessary support to maintain a well-rounded life.
If aging at home is your preference, does it align with your needs and expectations, now and in the future?
To stay or go
Deciding on where to live during your retirement years requires an honest assessment. Ask yourself the following questions to help determine if making your home your forever home is feasible — and if you can afford it:
☑️ Is your home aging-ready?
In other words, if your mobility declines, will your home be accessible as is, or will you need to make renovations to stay safe? The U.S. Census Bureau found that less than 10% of U.S. homes are readily accommodating to an aging population, meaning they offer features like a ground-level primary bedroom suite or a step-free entryway.
Whether it’s installing bathroom grab bars, renovating for a walk-in shower or other steps, consider the costs of home modifications when deciding where to live.
☑️ Can you handle household chores and maintenance?
From house cleaning to yard work to grocery shopping, maintaining a home — and everything that goes with it — doesn't stop when you enter retirement.
As you age, it may even get more challenging, requiring additional help. For example, you may need to hire landscapers, pay for grocery deliveries or invest in a regular housecleaning service to make daily life more manageable.
☑️ Do you have a local support network?
Do you have strong social ties within your community — friends, family and neighbors nearby? Social isolation and loneliness are linked to poorer health outcomes and larger medical bills.
Compile a list of people who you can call day or night, meet for coffee, accompany you to medical appointments and more. Check out your area’s recreation center or local clubs to build a network of like-minded people that make living in your community worth it.
☑️ Do you worry about money management?
Are you stressed about bills — and paying them on time? Programs are available online toN help you plan, build and allocate a budget so you can see where every penny goes. Many banks and financial institutions also offer easy-to-use online budgeting tools for their customers.
But if you’re worried about having the money to cover the necessities of aging at home each month, you may be able to leverage the home equity you’ve built up over the years — with a reverse mortgage loan.
☑️ Funds that are yours for the taking
We’re living in uncertain economic times. And to compound the volatile economy, health-related costs continue to rise. The average 65-year-old retired couple needs about $300,000 in after-tax savings specifically for health-related costs in their post-work life, even with Medicare.
Find out how a reverse mortgage can help you stay in your home now and well into the future. Reverse Mortgage Funding LLC (RMF) can work with you to determine if you’re the right candidate. Give us a call today at (888) 277-1567 to set up an appointment in your area.
This content is sponsored by RMF, one of the nation’s leading reverse mortgage lenders. We are dedicated to helping older Americans retire more freely, in the comfort of their own homes. As a result of our commitment to providing an extraordinary and positive customer experience, we have earned a 98% customer satisfaction rating; a 4.5-star / Excellent score on Trustpilot; 4.8 out of 5 stars on LendingTree; and an A+ rating with the Better Business Bureau. Call 888-277-1567 to speak with a licensed reverse mortgage specialist to learn about our retirement financing products and solutions.