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90% of people want to grow old in their own home – what is the real cost of this?

Many Americans want to age in place — also known as living at home for the rest of their lives — but that arrangement takes a lot of planning, money, and attention to detail.

Lowe’s
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home improvement retail chain, is the latest company to draw attention to this growing desire. The company announced a campaign called “Lowe’s Home to Live,” in partnership with AARP, highlighting age-friendly home renovations, such as curbless showers, walk-in closets, and walk-in closets. with drawers and wheelchair ramps. The launch also includes promotions for smart home devices, like digital locks and video doorbells.

“Nearly every family in America at some point in time, including my own, is faced with an important and often frightening responsibility,” said Marvin Ellison, president and chief executive officer of Lowe’s. is preparing a home for life changes,” said Marvin Ellison, president and chief executive officer of Lowe’s, in a statement. This is the first in a series of steps the company intends to take to educate consumers and promote aging in place – Lowe’s said it will regularly update its virtual library with articles. and videos about age-appropriate home improvements and designs.

See: What will you call home when you get older? The ultimate guide to housing in later life

Changes like replacing the bathtub and installing security cameras can support anti-aging goals in place, but making a home age-friendly can be expensive. A walk-in tub can cost $5,000, and an entire bathroom and kitchen remodel can run into the tens of thousands. Follow Retirement living Journal. Not all homes are equipped to handle these changes, which can make the total bill even higher.

In addition to these renovations, people living through the day at home will still need care and medical attention, which also increases. According to Payingforseniorcare.com, the national average for home medical assistants in 2019 was $22 an hour. Nursing homes and assisted living facilities aren’t cheaper at all – the national average cost of an assisted living facility is $4,000 a month, though it can be more than $9,000 depending into the state and facility, and nursing homes average $245 per day for a shared room, or more than $7,000 a month (private rooms are even more expensive).

To age in place requires financial plan, so that home repairs and renovations don’t become barriers to entry. When making these decisions, people need to shift their focus from “aging in place” to “aging in place.” Experts say. This includes, of course, the emotional value and familiarity with neighbors (or in some cases, closeness to family, friends, and doctors).

However, many Americans want to grow old. Nearly nine in 10 people want to stay home in old age, though just a quarter said they think their home will be ready for it, according to a survey from Silvernest, a website dedicated to helping older Americans. Find roommates and alternative accommodation for the elderly. “Surprisingly, the goal seems to be to last as long as possible,” said Riley Gibson, president of Silvernest.

This isn’t always the right decision, Gibson said. There are many alternatives to staying at home, he added, which can be less expensive and can boost some of an older person’s healthcare needs. These alternatives include home sharing and urban rental apartments with all the amenities that are suitable for health. “Every year, someone needs to consider if this is the right place for me?” he said. “I think we have to open our minds to alternatives, rather than just focusing on aging in place.”

Also see: What these ‘transitional’ cities are doing for older residents

NS epidemic Patrick Roden, nurse and chief executive officer of AgingInPlace.com, a website with resources for older Americans and their carers, has heated up the debate further between living at home and care in the facility.

But yes problems problems still need to be addressed with aging in place, including elderly people living in suburbs where they are excluded from basic cultural and social needs, rural Americans able to afford limited access to delivery services and the financial burden associated with making these improvements. (The flip side of it doesn’t always seem all that appealing, though – nursing homes have been the scene of many tense, tumultuous moments during the pandemic, when loved ones can’t see their elderly loved ones.) themselves in these facilities or the coronavirus rapidly spreads between patients and Staff.)

Structural factors for local aging are important, such as having the right furniture in the home to move around the house, but so are social factors, so people don’t live her life isolated and lonely, says Gibson. “Socially, I think we need to continue to open up to what is expected and possible for older people who are aging,” he said.

Nor do many such age-friendly homes, Roden writes. “As a society, we need to produce more affordable, small-scale housing that is suitable for multiple families to use, located in walkable communities and close to amenities, commercial areas, etc. commercial, medical facilities and public transport,” he writes on his website. “And we need to reduce disease so that we not only prolong life, but also functional health.”

https://www.marketwatch.com/story/want-to-live-in-your-home-for-the-rest-of-your-years-heres-what-it-takes-11637250367?rss=1&siteid=rss 90% of people want to grow old in their own home – what is the real cost of this?

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