Design is the last thing you want to economize on when it comes to Aging in Place Remodeling. We often react to mobility and safety issues only when they become acute and throw up the first grab bar you find at the big orange store, or put up a graspable railing that does not look right with the existing railings. To get the maximum value out of any home improvement, you need good design. Good design is doubly important for Aging in Place since it is so easy to make your home look like a hospital. Let’s look at what I mean by “Extra Value”
Cost vs. Value
There is a great online resource called Cost vs. Value for showing how much money you might recoup on an investment in your home upon resale. It shows “low range” to “high range” and adusts for costs where you live. Three examples stood out for me because they are popular for helping people stay in their homes longer as they age. I chose “mid-range” to be as inclusive as possible. It is also the sweet spot for Return on Investment. Bridgeport CT was my closest town.
Source ( http://www.remodeling.hw.net/cost-vs-value/2018/ )
This is the equity that potentially remains in your home, (if it is done well).
Extra Value
The missing “Extra Value” part of their analysis is that they do not account for the avoided costs of moving to assisted living too early just because your house becomes difficult to move around in safely and comfortably. You or your kids get nervous and you move too soon.
If these home modifications allow you to postpone move to assisted living for even a year or two, you could avoid $70,000-140,000 in room and board fees that you and your family will never see again. The best way to maximize your investment is to design not only the remodeling project, but to develop a Next Step Master Plan for Aging in Place TM that can be executed all at once or in stages.
To learn more, download my free guide on at https://colinhealydesign.com/top-10-ideas-for-a-great-accessible-home/. Check out my blogs while you are there.
Please call for a free phone consultation about creating a master plan at 203-722-8973
Colin Healy Design, LLC
Certified Aging in Place Specialists (CAPS)
Transforming Homes for Transforming Lives
In the example below, we were able to capture the space of a useless hallway and 2 feet from the master bedroom to create a luxurious and spacious accessible master bathroom and walk in closet without adding room to the house.
Before
After
