Aging in Place Information for Real Estate Professionals
As you farm your territory and engage in conversations, you will discover that many seniors are actively considering a stay in home versus move (list their home) decision for a number of reasons. Downsizing to reduce costs/adapt to aging, moving to be closer to kids and selling the home to move into assisted care/aging support facilities due to declining health are common issues seniors deal with in deciding to stay versus selling their home.
Agents that add value to both sides of this decision as a subject matter resource will build credibility with clients and differentiate themselves from agents that are obviously only interested in talking the senior in to selling their home.
If you act in the best interest of the client by providing “both side” information during the process – even if that means the senior decides to stay in the home – you will at the very least create a valuable “anchor client” and be positioned for the listing if your client changes their mind or when the eventual trust/probate sale opportunity arises.
Below is information designed to help you become a subject matter resource when your discussions involve changes to the home due to aging, health or disability issues.
Aging in place – Making modifications staying vs. selling the home
The Center for Disease Control 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."
Preference for aging in place – Be sensitive to this
Most adults would prefer to age in place—that is, remain in their home of choice as long as possible. In fact, 90 percent of adults over the age of 65 report that 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.
Technology can be an enabler for aging in place—there are four categories of technology that acts as an enabler—Communication and Engagement, Health and Wellness, Learning and Contribution, and Safety and Security. Caregiving technologies help those who care for older adults provide that care in the most effective way—and include new technologies for smart phones and tablets, as well as websites—such as Caring.com or AARP.org/Caregiving.
Home modifications vs. selling
There exist many risks for injury to older adults in the common household, therefore impacting upon their capability to successfully age in place. Among the greatest threats to an ability to age in place is falling. According to the CDC, falls are the leading cause of injurious death among older adults. Therefore, engagement in fall prevention is crucial to one’s ability to age in place. Common features in an everyday household, such as a lack of support in the shower or bathroom, inadequate railings on the stairs, loose throw rugs, and obstructed pathways are all possible dangers to an older person. However, simple and low-cost modifications to an older person’s home can greatly decrease the risk of falling, as well as decreasing the risk of other forms of injury. Consequently, this increases the likelihood that one can age in place.
Some examples of home modifications include: increased lighting, accessible switches at both ends of the stairs, additional railings, grab bars, nonskid flooring, a hand-held, flexible shower head, walk-in bathtubs, and the removal of throw rugs and clutter. In most cases, home modifications can be simple and cost-effective, while simultaneously offering substantial benefits to the individual. Other modifications to the home – especially those that require retrofitting – are a little more costly due to increased complexity of installation. These can include: ramps for accessible entry and exit, walk-in shower, sliding shelves, stairlifts, or even home elevators. Many homes are built or retrofitted with the Universal design model in mind, which makes everything in the home accessible to all people with or without functional limitations.
Universal design – be able to discuss this!
Universal design (often inclusive design) refers to broad-spectrum ideas meant to produce buildings, products and environments that are inherently accessible to older people, people without disabilities, and people with disabilities.
The term "universal design" was coined by the architect Ronald L. Mace to describe the concept of designing all products and the built environment to be aesthetic and usable to the greatest extent possible by everyone, regardless of their age, ability, or status in life. However, it was the work of Selwyn Goldsmith, author of Designing for the Disabled (1963), who really pioneered the concept of free access for disabled people. His most significant achievement was the creation of the dropped curb - now a standard feature of the built environment.
Universal design emerged from slightly earlier barrier-free concepts, the broader accessibility movement, and adaptive and assistive technology and also seeks to blend aesthetics into these core considerations. As life expectancy rises and modern medicine increases the survival rate of those with significant injuries, illnesses, and birth defects, there is a growing interest in universal design. There are many industries in which universal design is having strong market penetration but there are many others in which it has not yet been adopted to any great extent. Universal design is also being applied to the design of technology, instruction, services, and other products and environments.[2]
Curb cuts or sidewalk ramps, essential for people in wheelchairs but also used by all, are a common example. Color-contrast dishware with steep sides that assists those with visual or dexterity problems are another. There are also cabinets with pull-out shelves, kitchen counters at several heights to accommodate different tasks and postures, and, amidst many of the world's public transit systems, low-floor buses that "kneel" (bring their front end to ground level to eliminate gap) and/or are equipped with ramps rather than on-board lifts.