Aging in place allows you to stay in the home and community you’re comfortable with.
Your home may not be suitable for your changing needs, and the cost of maintaining it could climb.
Your social circle could evolve as friends and neighbors age, and your own priorities might shift.
For many retirees, aging in place is the ideal retirement plan. Rather than downsize or head toward warmer weather, many seniors opt to stay in the homes and neighborhoods they know and love.
There are plenty of good reasons to age in place. Staying put keeps you in the community you’re familiar with. You know where to pick up the freshest groceries, who to call when you need a plumber in a pinch, and where to find the best viewing spots for a gorgeous sunset.
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But aging in place isn’t always as simple or affordable as it sounds. Before you decide to stay in your current home indefinitely, it’s important to consider some of the challenges that could arise as you get older, including these pitfalls.
When you first retire, you might love having plenty of space and a large yard. And the fact that you need to climb a set of stairs to access your bedroom may not be a problem.
Over time, that could change. Single-floor living may be a better choice if you develop mobility issues, and the amazing soaking tub you put in your master bathroom could become a hazard down the line.
Of course, you could opt to make changes to your home to accommodate your needs as they arise. But those could get expensive. And if you don’t have a lot of retirement savings, remodeling may not be feasible.
One of the most overlooked challenges of aging in place is keeping up with home maintenance. Mowing the lawn, clearing snow, and tackling small fixes could become more burdensome as you get older. And while you could hire professionals to do those tasks for you, if you’re living mostly on Social Security, you may not have the room in your budget.
Moving to a townhouse or condo community could alleviate some of the burden of maintenance. If you only have your interior to worry about and there’s less square footage, you may find it easier to keep your home in good shape.
You might love your farmhouse in a remote corner of the country with its lovely mountain view. But as you age, healthcare issues could arise. And if you don’t have access to a top-tier healthcare system, it could become a problem.
Before committing to staying put, research local health services. If they’re not robust, you may want to make a move before medical issues start to creep up on you.
A big advantage of aging in your current home and community is maintaining proximity to the friends and neighbors whose company you enjoy. But over time, things might shift.
Your friends might choose to ditch their larger homes and downsize as they get older. Some might move closer to family for assistance. Others might relocate to shed expenses. Before you commit to staying put for social reasons, talk to the people around you and find out if they’re planning to do the same.
If your current home offers close proximity to nightlife or plenty of space to host parties, you may love those aspects of it. But while you may have the energy to hit the town or gather people in your home at 65 or 67, you may not feel the same way 10 or 12 years down the line.
And the opposite may hold true. If you’re happy in a remote area now, you might crave proximity to people and things to do when driving gets harder and you’re more comfortable staying in your neighborhood for entertainment.
Aging in place makes sense for a lot of people. But before you decide that you’re doing it no matter what, think about the potential downsides and challenges. Even if you ultimately stay put, preparing for the pitfalls above could help you avoid a scenario where you ultimately end up regretting your decision.
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