Ramps, grab bars, and wider door openings are lifesavers for elderly people, especially those with limited mobility, who want to remain in their homes as they age.
MarketWatch lists some tips for homeowners who want to remodel their properties as they age in place. When it comes to readjusting the floor plan, no-step entrances and bedrooms and bathrooms on the first floor are important. Many people opt for upgrades such as lever-style doorknobs, walk-in showers, and chair lifts that attach to a staircase.
Of the more than 25 million households of people age 65 and older, about 44% need some sort of accessibility feature because of disability or other challenges, according to the Joint Center report.
Age-in-place renovations may negatively affect the resale value of a home, because buyers may have to undo all the customized features of the previous homeowner.
Advertisement
Related Stories
Affordability
How Much Income Do First-Time Buyers Need to Afford the Average Home?
The median-priced home is unaffordable in 44 of the 50 largest U.S. metro areas
Affordability
What Is the Relationship Between Urban vs. Suburban Development and Affordability?
A new paper from Harvard's Joint Center looks at whether expanding the supply of suburban housing could, in turn, help make dense urban areas more affordable
Market Data + Trends
10 States Where Home Insurance Rates Have Risen the Most
Responding to the increasing number of natural disasters, insurers are hiking prices, with some states bearing the brunt more than others