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Understanding the Benefits of Aging in Place

Aging In Place Real Estate

Aging-in-place is a popular option for seniors who want to remain in the home they know and love instead of moving into an assisted living facility. With some planning, it’s possible to reap the monetary and mental health benefits of aging-in-place and make sure your home meets all your needs.

The Financial Advantages of Aging-in-Place.

One of the biggest advantages of aging-in-place is the cost savings. If a senior is living on a tight budget, then being able to stay in their home can be a real blessing. Staying in your own home eliminates the costs of moving and can also help reduce other costs such as transportation expenses. In addition, aging-in-place often gives older adults more control over their budgets since they have many more options for how to manage expenses compared to if they were living in an assisted living facility.

Being in Familiar Surrounding Helps Mental Health and well-being.

Staying in a familiar environment provides seniors with the stability and comfort of familiar surroundings which has a huge positive impact on mental health. Studies have shown that older adults who stay in their own homes report higher levels of satisfaction, are less prone to depression and anxiety, and are generally more engaged in their communities. This can be an especially important benefit for older adults whose physical mobility is limited as they can enjoy life in the same place they have grown to know and love.

Aging-in-place also provides older adults with a sense of control over their own lives. With a variety of options, older adults can make modifications to the environments they inhabit in order to remain independent and safe, while still maintaining their autonomy and individual preferences. Simple choices like where to hang artwork or installing updated fixtures or cabinetry can enable individuals to customize the spaces they inhabit. The ability to control and personalize their surroundings gives older adults a sense of ownership, increased confidence and boosts self-esteem.

Professional Home Care Can Help With Most Needs, From Grocery Shopping to Transportation Assistance.

Access to professional home care services can greatly benefit older adults who wish to aging-in-place. Having care professionals come into the home can provide assistance with many everyday tasks, such as grocery shopping, meal preparation, housekeeping, and transportation. This type of help also includes skilled medical services that may include medication management, wound care, and other treatments prescribed by a doctor. Professional home care can also offer companionship which is essential for maintaining physical and mental well-being while aging-in-place.

The advantage of having a professional home care provider is that they can monitor any changes in the person’s condition and alert their family or doctor to take further action if needed. They can also provide valuable support during times of transition and help minimize the stress associated with aging. Professional home care providers are trained to assess each individual situation and tailor services to meet the specific needs of each of their clients. Their goal is to keep older adults living safely and independently as long as possible.

Consider all Possible Tax Savings from Aging in Place Before Making Final Decisions.

Aging in place at home can also provide financial benefits for seniors. As long as the home is owned and occupied by the senior, property taxes can be deferred until the senior has passed away or sold the residence. In addition, if a senior has received long-term care services, special tax deductions may be available–such as deducting medical expenses paid out of pocket, including any fees associated with a live-in companion or caregiver. It’s important to consult a qualified tax professional to consider all possible costs and savings before making final decisions when it comes to aging-in-place.

Aging in place also allows a senior to remain close to family members, maintain cultural ties and remain connected to the community they’ve lived in for years. Home renovations can help make aging-in-place possible by increasing safety, making it easier to move around, accessing areas that were previously out of reach, and making it easier to maximize the use of space. These modifications may require some significant financial outlay for a senior but with careful planning, families may be able to sit down with an expert from their state’s Department of Aging or local aging services agency who will be able to help explore any government-sponsored home modification or repair assistance programs that might be available.

Access to Quality Healthcare is Easier When Living at Home.

Aging in place gives seniors more control over the quality of their healthcare and access to important health services. If a senior has a regular family doctor, they can decide when to schedule appointments, who to see based on recommendations from friends and family, and they don’t need to worry about transportation issues. Being able to stay at home also makes it easier for senior loved ones to receive care and keep up with routine checkups—which is incredibly important as people get older.

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