A Housing Snapshot: Costs of Home Renovation to Age in Place Will Be Beyond the Reach of Many Retirees, New Reports Say
It’s well known by now that an overwhelming percentage of seniors want to age in place, growing old in their present home. We’ve written about this idea many times here on the AgingOptions blog, most recently in this article from last summer. However, a recently-published Kaiser Health News article combined with an updated housing report from Harvard University are casting doubt on the viability of many seniors’ hopes and dreams. The bottom line is that, with rising remodeling costs, aging homes and growing debt, fixing up a house to age in place may prove to be beyond the reach of many retirees. Aging in Place is a Fine Idea, but Costs of Home Renovation are Skyrocketing The article from Kaiser Health News , written by reporter Sharon Jayson and published a few weeks ago, comes with a straightforward headline: “For Boomers Reframing Aging, Age-Proofing A Home Won’t Come Cheap.” Jayson tells the story of an Austin, Texas couple in their 70s who are remodeling a 2,700 square f...