Benefits and Downsides of Aging in Place
It’s a big decision to decide where you’ll spend your golden years. Retirement may be great, and staying in your own home and aging in place can be a beautiful experience spent resting in your garden or on your front porch.
However, spending your retirement years in the same house has its benefits and downsides. We listed a couple of things to consider before deciding to age in place.
BENEFITS OF AGING IN PLACE
Aging in Place is More Affordable
Nursing homes and assisted living facilities are costly. Long-term care is not covered by most health insurance plans, including Medicare. Moving into a facility is typically more expensive than aging in place, especially if your present house is paid off.
Allows Senior Loved Ones to Maintain Their Freedom and Independence
With age, one’s own freedom begins to decrease. In order to complete daily chores, older individuals will ultimately require assistance. Seniors can maintain some freedom at home if help is available from family, friends, and caretakers.
Allows Seniors To Remain In A Comfortable Environment.
The emotional worth of a property is considerably higher than its monetary value for many seniors. While some seniors acclimate easily to living in a nursing home, others may never feel completely at ease in a new setting. This has the potential to harm a person’s mental health. Also, you are more familiar with the ins and outs of the house and a familiar neighborhood.
THE DOWNSIDE OF AGING IN PLACE
Concerns About Safety
Health emergencies grow increasingly often as you become older. It is important to have someone around who can immediately assist you if you fall or have an accident. Cognitive limitations might be harmful if you live alone. You could forget to take your prescription or wander away from home.
Trouble with House Repairs
As you become older, your house has the potential to slip into disrepair. Some elderly people are unable to afford routine maintenance. Others may find it difficult to complete the task or locate dependable assistance. Delaying maintenance might put your safety at risk and limit your home’s usability.
Insufficient Support System
Not everyone is lucky enough to have family members around who are ready to help. If you don’t feel comfortable arranging a network of caretakers or if you have few friends and neighbors to go to for assistance, aging in place may not be possible. Aging in place might be especially difficult if your adult children live too far away or have their own health problems.
