Aging in Place Means Enjoying Where You Have Lived for Years and Continuing to Build Memories!
The Facts – Nearly 90 percent of people over age 65 want to stay in their homes for as long as possible, according to research by the National Conference of State Legislatures with AARP Public Policy Institute.
Here’s the Problem – ”There are more than 100 million homes in U.S. cities, suburbs and rural areas, yet only about 1% of them are conducive to aging in place, says Rodney Harrell, director of livability thought leadership for AARP, who serves as the organization’s housing expert. Meanwhile, 10,000 Americans turn 65 every day, and more than 80% of those 65 and older say they want to stay in their homes.”
Here are Solutions – At Properties, Probe & Renovation (PPR), we firmly believe that to is essential that you plan ahead for the required changes to make your home accessible, safe and enjoyable before it becomes a necessity
There are seven proactive moves you should make to assure your future happiness in the home you love:
1) Personal Planning – Think about what you want and what you need – for the moment don’t consider the cost and how the renovations will be paid for.
2) Begin the process by working with a Project Manager (PM) – The PM will be your WatchDog! Your eyes and ears working with you to select and coordinate required professionals – Architects, Engineers and Designers (keep waiting to consider the cost and how the renovations will be financed).
Why a Project Manager(PM)?
It’s simple! The PM will be at your side – your WatchDog – from the inception of the renovation to the completion representing all of your interests with a focus your specifications, budget, timeline and peace-of-mind. You’ll be able to continue your lifestyle during all stages of the renovation whether you are in or out-of-town!
Think about it this way – A PM is similar to the Manager of a sports team. They do the planning, consider strategies, organize the players and orchestrate the game from start to finish. The manager provide provides the owner and fans Winning Results when they are successful.
3) Engage an Architect, Designer and Engineers as needed. With the assistance of the PM review the renovations you have in mind and discuss the feasibility (keep waiting to consider the cost and how the renovations will be financed).
4) Working with your PM to have your home thoroughly Inspected – not a traditional low cost inspection generally performed by one person for owners selling or buying homes. You need a forensic, diagnostic inspection checking all structures and systems. You want to avoid unexpected surprises as you begin the renovations and continue to live in your home (keep waiting to consider the cost and how the renovations will be financed).
Note – PPR will perform a Diagnostic, Forensic Home Inspection to provide you Financial Security and Peace-of Mind!
5) Working with your team – The PM, Architect, Engineer(s), and Designer – develop a renovation cost analysis/budget. Note – Include at least 20% in added costs for material upgrades, added labor costs, and the unexpected.
6) Meet with your Financial Planner and/or Wealth Manager – Now is time to consider the cost of the desired renovations and how they are best paid for!
Note – At this point you and your planner(s) should consider many financial factors including: Your liquidity, impact on the home’s value after the renovations, tax ramifications, insurance costs, and your estate planning.
7) Organize & Declutter Your Home – The amount of goods that can accumulate after living in the same house can be overwhelming. Once you have a plan for renovations, you can plan your decluttering strategy.
Note – Here’s an idea, take some before photos of your rooms and look at them with a friend or relative whose opinion you trust. Talk with them about your renovation plan and what you need to take out to achieve your desired look and results. This will help motivate you to declutter and get rid of everything that doesn’t contribute toward your goal.
Make sure all work areas are cleared to protect your possessions and to provide working space for the trades. Decluttering and organizing rooms can be a monumental task!
Think about whether you want to take on the task of decluttering yourself, or whether to work with your PM to find a professional organizer like PPR to help you declutter.
Aging in Place is more about Planning and Execution than Affordability! While you may think that renovations targeted for staying in your home are an expensive luxury, consider the following, “A major home remodel can cost thousands of dollars. But it’s often less costly than senior living alternatives. A basic unit in an assisted living facility, for example, runs about $43,000 a year”, according to the latest Cost of Care survey from Genworth Financial.
A recent article in the Washington Post on August 11, 2018 titled “To grow old in your home, renovate accordingly” emphasizes “If you plan to stay in your home well into your golden years, doing renovations before you retire can make your house more safe and accessible” The article goes on to point out, “But many wait too long to make needed renovations, says Marianne Cusato, an adjunct associate professor at the University of Notre Dame’s School of Architecture. ‘You don’t wait until you have mobility issues to make changes to your house,’”
Renovating your home for aging in place can be a smart lifestyle change and sound financial move – Find Out More!
Do You Want To Stay in Your Home as You Grow Older?
Do You Want To Age in Place But Have Some Serious Questions?
Then Let’s Talk Now!
We’ll explain how the PPR Renovation WatchDog will save you dollars, reduce your stress, assure a quality project which meets your specifications, and deliver Peace-of-Mind!
Shoot Phil Eide a text or give him a call…he’s President of Properties, Probe, and Renovation (PPR). He’ll discuss our process, pricing, and scheduling with you. Here’s the text or call number: 216.577.5579