The phrase “aging in place” has become practically universal in recent years. As retirees, and those looking ahead to retirement, examine their ideal housing preferences, more and more of them seem to be determined to grow old right where they are, in the home they know and love.
It’s a nice image and a worthwhile goal, but is it always realistic? And do retirees truly take important considerations life safety, support, and cost into account when they decide aging in place is their best choice?
This week, as we examine housing issues here on the Blog, we’ll take a look at some of those considerations with the help of this article from the National Council on Aging, one of many that the NCOA offers on its website. The article is called “The Cost of Aging in Place,” but as you’ll see, “cost” refers to much more than dollars and cents. We offer this article as food for thought as you consider whether you and your home are ready for you to grow old there.
A Haven of Comfort and Familiar Memories
“For many of us,” the NCOA article begins, “home is a haven of comfort and familiarity. It’s where we’ve celebrated milestones, created memories, and gathered with those we love.” For that reason, the article goes on, it’s no surprise that most older adults want to stay in their home for as long as possible.
NCOA quotes a recent survey which says 60 percent of older adults who live in their own home want to stay there and have someone care for them as they age. But some articles, such as this 2025 analysis from the University of Michigan, peg the actual figure at closer to seven out of eight.
The reality, as the University of Michigan study warns, is that barely over half of seniors have actually taken steps to allow themselves to age in place safely. That’s why the NCOA article with its questions and checklists is so timely.
Beginning with the Basics: an Aging in Place Checklist
The National Council on Aging article covers a wide range of topics related to aging in place, and we’ll do our best to summarize. But it also offers this simple checklist which we suggest might be a good place to start as you consider your “aging in place strategy.”
Start by asking yourself these eight straightforward questions:
Health: Can I safely manage my health at home?
Home Safety: Does my home need safety upgrades, such as grab bars or ramps?
Daily Living: Do I need help with bathing, dressing, meals, or housekeeping?
Support: Do I have family, friends, or neighbors who can help?
Care Services: Are in-home care and other local services available?
Finances: Can I afford home upkeep and care costs?
Transportation: Can I get to appointments, shopping, and activities?
Future Needs: Can my home and support adapt as my needs change?
Aging in Place Means Growing Old at Home, with the Right Support
It seems self-evident, but the NCOA article does answer the basic question: “What exactly do we mean by aging in place”?
“Aging in place means staying in your own home as you get older instead of moving to an assisted living facility or nursing home,” says NCOA. “For many people, that also means getting the right support—such as home modifications, in-home care, transportation, meal delivery, or help with everyday tasks—so they can continue living safely and independently.”
NCOA’s Shaneece Gaines explains it this way: “Aging in place helps people remain self-sufficient, healthy, and socially connected to their communities. But it’s not just about staying put. Older adults must make sure they have enough resources to support their needs now—and years down the road.”
You May Love Your House, but Can You Safely Age There?
In order to age in place with security, you need an actual place – a home, that is. As the NCOA article put is, “One of the first steps to growing older at home is deciding whether your current dwelling can meet your needs.”
The list of recommended safety improvements should sound familiar, yet many sources say only about 10 percent of U.S. homes meet the criteria for safe senior aging. Here, says NCOA, are some of the basic considerations, quoted verbatim from the source article.
Safety: Does your home pose any health and/or safety hazards? Issues like steep stairs, poor lighting, and broken handrails can increase your falls risk. Living in a high-crime neighborhood could make it unsafe to walk the block or spend time outside.
Community: Social connection is important as we age. Do you have close family or friends nearby who will visit? Is there a senior center in your area that offers programs and activities for older adults? If you do not drive, do you have easy access to public transportation?
Adaptability: Physical limitations may arise as you age. If you have two floors but can no longer use the stairs, are there a bedroom and full bathroom on the main floor? If you one day need to use a wheelchair or scooter, can you afford the modifications to accommodate it? According to Retirement Living, the average cost of a ramp installation is $1,110.
Size: A larger house and/or yard usually means more upkeep and expense. Does your home make sense for the current size of your household? Can you afford to pay for ongoing maintenance services like lawn mowing, driveway plowing, and gutter cleaning?
Aging in Place Requires Outside Support
“The need for more hands-on help can increase as we age,” NCOA reminds us. “And while some of that support can come from willing friends, family, and neighbors, you may need to hire professional help for some tasks.”
The article includes this partial list of services you may need from day to day. Remember, the help you don’t require today can become an acute need in the future. Outside support can include help with:
Money management and bill-paying
Housekeeping and laundry
Meal preparation or meal delivery
Help with activities of daily living: eating, bathing, dressing, toileting, and grooming
Shopping assistance
Landscaping services
Home repair services
Transportation
In-home nursing care
Medication management
Companionship
Aging in Place Usually Brings Unanticipated Expenses
The NCOA article attempts to cover a wide range of scenarios regarding the financial cost associated with aging in place. While we can’t cover all the details, suffice it to say that many of the support services listed in this article will come with an often-hefty price tag.
NCOA points out that financial help might soften the blow somewhat. “Some types of support may be covered by your health care plan or available through community-based organizations,” says the article. “Other services you’ll have to pay for out of your own pocket—and paid help doesn’t always come cheap.”
If you need in-home care, for example, costs will mount rapidly. NCOA quotes CareScout’s 2025 Cost of Care Survey which pegs the median monthly cost of adult day services was $2,058, while a home health aide came with a price tag of $6,673 per month.
“It’s vital to make sure you have the social and financial resources to get the support you need,” says the NCOA article. While spouses, adult children, friends, and neighbors often play a big role in a person’s ability to age in place, relying on these loved ones risks caregiver burnout.
“It’s important to consider the limitations of the people around you before counting on their assistance,” the NCOA article wisely observes.
Can You Truly Afford to Age in Place?
This is often the key question, not just for aging in place but for long-term care in general. It was also the subject of this Blog article from a few months ago which we encourage you to read.
The bottom line, says NCOA, is that, as desirable as aging in place for most seniors, the question of affordability is harder to answer because costs and needs change over time. “Estimating your expenses and understanding your funding options can make it easier to stay in the home you love,” the article states.
Due to limited space, we’ll have to abbreviate some of the NCOA article’s recommendations. Suffice it to say that funding options, in the view of the NCOA, come down to a balance of personal income and assets, home equity, and government/community support.
We would add one more that the NCOA article doesn’t mention: proceeds from long-term care insurance which often will pay for in-home care for those who qualify under policy guidelines.
Personal Income and Assets
“Even if you think you have healthy retirement savings, the expenses of aging in place can make them dwindle quickly,” NCOA warns. “Take a close look at your finances—income, savings, and any investments—before deciding to stay in your home.”
For example, do you have enough cash flow for monthly bills and everyday expenses? Do you have assets you can liquidate quickly in an emergency? For example, could you handle a large, unexpected expense like a major car repair without having to borrow?
Note: Those on low income should check out NCOA’s BenefitsCheckUp.org which includes a benefits database searchable by zip code.
Using Home Equity to Fund Aging in Place
The difference between what you owe on your mortgage and your home’s appraised value is your home equity. For many seniors it’s their largest asset.
“Borrowing against your home equity frees up extra cash that can help you stay in your home,” says NCOA. “You can use this money to pay daily living expenses, fund home modifications, or pay for in-home help.”
There are essentially three ways to tap your home equity: a home equity loan, a home equity line of credit, and a reverse mortgage. Each involves important risks and limitations. For that reason we strongly suggest you come to one of Rajiv’s seminars and consult a qualified financial advisor to guide you into choosing the best course for you.
Government Programs Can Help Seniors Age in Place
For low-income older adults who can’t afford home-based help, government aid can be “a lifeline,” says NCOA. “If you qualify for any of [these programs], the assistance you receive could help you age in place with less financial worry.
Again, questions of benefit eligibility can be complex, so seek objective advice regarding these or any other federal and local support programs. There are three main sources of support.
Medicare: Medicare does not cover traditional long-term care, except that in some cases it will cover home health services while you receive skilled nursing care or rehabilitation at home. Some Medicare Advantage plans offer additional in-home services.
Medicaid: The NCOA article explains, “This joint federal-state program provides health insurance for various groups of people with low income. Medicaid may cover certain home and community-based services, such as custodial care. Eligibility and coverages vary by state, so be sure to talk to a financial advisor or contact your state Medicaid office to find out more.
Veterans Administration: Eligible vets can qualify for homemaker or home health aide services to help you remain in your home, in addition to other cash assistance that can be used to pay for in-home services and supports.
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And remember, Age On, everyone!
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