Preparation can ease the aging process in place: WSJ

Since a large majority of older adults prefer to remain in their current home as they age, the key to successfully aging in place lies in preparation and an understanding of the home, the researchers said. a new exam by the The Wall Street Journal.

The report cited data from 2021 Harvard University‘S Joint Center for Housing Studieswhich found that almost nine in ten people aged 65 and over lived in their own homes, but an ongoing problem concerns the homes themselves. Many are not adequately equipped to house elderly residents.

Wider doorways to accommodate wheelchairs, grab bars and non-slip mats in bathrooms, and uneven surfaces between room thresholds are just a few common problems found in many homes. Modifications that can retrofit a home to minimize falls or other potential problems can be critical.

But paid home care can also be necessary, and the financial obligations for such care can be underestimated, said Ken Dychtwald, co-founder and CEO of Age golfa company that specializes in aging issues.

“You have to take the variables into account as you get older,” Dychtwald told the newspaper. “We think about making a house child-proof. How do you make a house age-proof?”

Nonprofit health research organization KFF found that about half of the population aged 65 and older “have had serious conversations with loved ones about future needs,” the Journal reported. That figure still needs to increase a lot, Dychtwald said.

“Candid conversations with children can be nerve-wracking,” he said. “We talk about vacations and the hopes and dreams for their lives. We need to have the same discussion about what to do as we get older.

Adult children can help, but if parents do not provide sufficient information about the responsibilities they can take on, adult children will have to explain what they can and cannot contribute.

The type of home itself can also be a problem, especially if there are a lot of stairs. These create dangers for the elderly because aging brings natural mobility problems. So, living in a one-story house with no steps provides an ideal environment for aging in place.

But according to additional research from Harvard, fewer than half of American adults between the ages of 65 and 79 lived in “single-story, no-entry homes,” a stark reality considering that nearly a quarter of older Americans face one fall every year.

Andy Miller, who started AARP‘s AgeTech Collaborative to bring technology companies together to provide aging-in-place solutions, spoke about the growing benefits of smart-home technology. This allows tasks and devices in a home to be voice controlled. He has seen firsthand the benefits of such platforms with his own elderly parents, who live in Florida.

“They made everything possible with voice,” he told the Journal.

Miller is overseeing the construction of a new home with wood floors without thresholds, which could pose a tripping hazard later in life. The house will also have safety buttons on the stove and environmental monitoring in several rooms.

But the financial costs must also be taken into account, the article said.

“Financial experts say you need to know what you have in savings and equity to grow if necessary, understand what is and isn’t covered by insurance, and anticipate living costs,” the Journal explained.

Equity can play a role in financing home adjustments or in paying for care at home. But the interest rate will play a role in whether older Americans choose to use it for such a purpose.

“According to the Harvard study, the average home equity of those 65 and older was $250,000 in 2022. About 60% of homeowners ages 65 to 79 do not have a mortgage on their primary home, the survey found,” the Journal said.