The World Today
The U.S. Centers for Disease Control and Prevention defines aging in place as “the ability to live in one’s own home and community safely, independently, and comfortably, regardless of age, income, or ability level”.
According to the United States Census, 46 million people age 65+ lived in the United States in 2014 and this same segment of the population will grow to 74 million in 2030.
It’s not surprising most adults would prefer to stay in their homes for as long as possible. According to reports, 90 percent of adults over the age of 65 say they would prefer to stay in their current residence as they age. One-third of American households are home to one or more residents 60 years of age or older.
The Challenge
Homebuilders before 1980 did not take into account the fact that by 2013, 81% would be of households headed by and owned by an older person and that the number of homeowners age 65 and older would grow by 32% over a decade.
According to the American Housing Survey published by the U.S. Department of Housing and urban development about two-thirds of owner-occupied homes in the United States were constructed prior to 1980. Forty Percent were built before 1970. As a result, there are a number of problems one could face living in an older home today:
- Risk of injury or fall
- Potentially having to sell your home
- Watching your savings dwindle with costly and overpriced repairs that don’t really help or maintain the value of your home
- Trying to hire and deal with contractors
- Children and/or family members worried about your safety at home
These issues are scary and frustrating.
Being faced with having to leave your home and community, especially one that’s been an important part of your life, is a difficult place to find yourself. Losing your independence and comfortable way of life is not something most people want to deal with.