What You Need To Know About Buying a Home to Age in Place

Covered in this guide:

• Where Should You Age in Place?
• Aging in Place in Senior Apartments vs. Retirement Communities
• What to Look for in a Home for Aging in Place
• The Benefits of Working With Professionals to Help You Buy a Home for Aging in Place
• Options for Paying for a Home to Age in Place
• Learn More About Retirement Communities and Find Options Near You
• Expert Reviewer

Updated: June 17, 2023 | Reviewed by: Dr. Brindusa Vanta, MD

As the population continues to age, more seniors are opting to do so in place. That means staying in their homes or communities rather than moving into nursing homes or assisted living facilities. Aging in place allows seniors to remain closer to friends and family members, avoid the stress of moving into long-term care facilities, and most importantly, retain their independence. However, finding the right home to live in is crucial to enjoying the retirement years. Without a home that's safe and comfortable, seniors may find that aging in place simply isn't practical. 

More seniors choosing to age in place is also imperative to keeping the senior care industry alive. While there are many assisted living facilities and nursing homes open to seniors across the United States, an estimated 52 million Americans were aged 65 and older as of 2018, and approximately 2.2 million licensed nursing home and residential care beds were available—that means close to 50 million Americans have little choice but to remain in their own homes. 

This guide offers guidance for seniors who plan to age at home. It includes important factors to consider when choosing a home, as well as questions to help seniors determine their specific needs and preferences.

Where Should You Age in Place?

Before searching for a home to age in place, seniors should consider what type of community they'd like to reside in, as well as the type of home. That means asking themselves if they'd prefer a rural setting where it's quiet and close to nature, an urban setting that's close to conveniences, or something in between, such as a small town or a neighborhood on the outskirts of a large city. They should also consider if they'd like to live in an apartment, a condo, a single-family home or row housing.

According to the AARP, 79% of U.S. seniors own their own homes and of those, about 50% have paid their mortgages in full. Furthermore, 77% of seniors surveyed stated they want to stay in their current homes as they age, either because of financial investment or emotional attachment. 

While remaining in their current home is the ultimate goal for most senior citizens, it's important to consider whether that's practical. Aging can bring about new health conditions, safety concerns and mobility problems for many seniors and if the home isn't designed to accommodate those, it might not be the right choice.

Things to Consider About Environment for Aging in Place

The environment seniors choose to age in can have a significant impact on their quality of life. Here are several important things to consider about the home and community environment: 

• Access to healthcare: Living near medical facilities is crucial as seniors age, especially if they have chronic health conditions. For many, living near 24-hour emergency care is important.
• Safety: It's important to ensure the surrounding neighborhood is safe and secure. It's also crucial to ensure the home is fitted with smoke and carbon monoxide detectors, as well as grab bars and non-slip flooring.
• Socialization opportunities: Aging at home can feel isolating and be detrimental to mental and emotional wellbeing. It's important for seniors to seek housing near a community or senior center, or close to friends and family.
• Nearby grocery stores and amenities: Having access to groceries, a pharmacy and other important services is an important consideration to make when searching for a home, especially for seniors.
• Accessibility: Even if mobility issues aren't a concern while searching for a new home, it's important to look for an accessible home in case the need for a wheelchair or other mobility assistance arises. Search for a home with wide hallways and doors, low countertops and even a wheelchair ramp. 
• Visitor accommodations: If family will be coming to visit, it's important to have somewhere for them stay. Seniors should consider whether homes have a guest room or alternative accommodations located nearby.

Questions to Ask Yourself When Deciding Where to Age in Place

Choosing where to age is a personal decision that depends on a senior's unique health situation, needs and preferences. While searching for the right place to age, seniors can ask themselves the following questions to ensure they're making the best decision.

• Are there grandchildren? If so, would this location be easy for them to visit?
• What are your hobbies and what do you need nearby to ensure you can still enjoy them? 
• Where do you see yourself traveling to most and is it more practical to live closer to these places? 
• Do you prefer to live somewhere with plenty of socialization opportunities or do you prefer a quieter lifestyle?
• What type of home do you prefer—is a single-family home with a yard important or do you prefer something with less maintenance?
• Do you prefer seasonal weather or plenty of sunshine all year long?
• What type of accessibility features do you foresee yourself needing? 
• If home modifications are required in the future, do you have the means to pay for them?
• Will you require home care services? If so, have you factored that cost into your monthly budget? 

Aging in Place in Senior Apartments vs. Retirement Communities 

The two most common types of senior housing are senior apartments and retirement communities/senior lifestyle communities. While these two types of housing sound relatively similar, there are key differences to consider.

What to Look for in a Home for Aging in Place

This checklist provides seniors with a helpful resource to use while searching for a home. Seniors and their loved ones can use it while touring senior communities and homes for sale to ensure that everything from home type and space to nearby amenities meets their needs. 

The Benefits of Working With Professionals to Help You Buy a Home for Aging in Place

When searching for a new home, it's typically best for seniors to have a professional Realtor or senior living advisor to guide them through the process. This ensures the home they choose to purchase or rent is safe and sanitary while meeting most or all of their needs and wants. It also ensures that they have someone who can professionally negotiate on their behalf to help them get the best deal on their new home. 

There are several types of professionals who specialize in senior housing and who can work together to ensure seniors find the best possible housing option. 

Senior Home Safety Inspectors

Senior home safety inspectors assess homes to ensure they meet all local safety regulations and provide recommendations for modifications that may reduce hazards and the risk of injury. These inspectors can be hired independently or through local government agencies and nonprofit organizations. 

A senior safety inspector will typically check for: 

• Fall hazards, such as loose rugs, cluttered pathways and uneven flooring. 
• Stairs that are uneven or hazardous. A senior home safety inspector may recommend non-slip treads on stairs to prevent falls. 
• Hand railings, ensuring they're installed on all stairways and in other areas of the home, as needed. 
• Electrical issues such as overloaded circuits, faulty wiring and outdated electrical systems that don't meet local housing codes. 
• Plumbing leaks and signs of water damage such as mold and mildew.
• Working smoke detectors and carbon monoxide detectors. 
• Bathroom safety, checking for grab bars, nonslip mats and shower seats, as needed. 
• Kitchen safety, checking for faulty appliances, loose flooring or improper storage of chemicals and other hazardous materials. 
• Accessibility issues such as narrow hallways or impassable corridors. 

Senior Real Estate Specialists

Finding a Realtor that specializes in helping seniors find a home is an important part of the home purchasing process. These Realtors are licensed to buy and sell property in the same way any other Realtor is; however, they have specialized knowledge of senior-friendly communities, grant and benefit programs that may help cover costs, and safety features to look for when seniors are purchasing a new home. 

Seniors can find a senior real estate specialist by searching the National Association of Realtors database.

Senior Move Managers

Senior move managers specialize in assisting seniors and their families with the physical and emotional aspects of relocating, either to a new home or to a long-term care facility. These professionals offer a wide range of services that help make the transition smooth and as stress-free as possible. That includes:

• Downsizing: A senior move manager can help determine items to sell or donate while managing the logistics of moving items to storage or to the new home. 
• Packing and unpacking: They provide hands-on assistance with packing up belongings, labeling boxes and unpacking. 
• Home staging: If a senior decides to sell their current home, the move manager can provide assistance with staging to help potential buyers see the home in the best light. 
• Service coordination: A move manager can schedule and coordinate services such as Realtors, moving services and move-out cleaners. 
• Emotional support: Senior move managers can provide emotional support for seniors and their family members when they experience feelings of stress, sadness or anxiety. 
• Home safety assessments: When the senior moves to their new home, a move manager can conduct a basic safety assessment and recommend modifications to ensure the senior is safe.

Seniors or families in search of a move manager can find one by searching the National Association of Senior & Specialty Move Managers database.

Options for Paying for a Home to Age in Place

Seniors who choose to move to a retirement community instead of remaining at home should consider the costs associated with it. In many communities, buy-in fees and monthly maintenance fees are required on top of mortgage payments or rent. When combining all related costs, seniors will likely find that the cost of a home in a retirement or senior living community will be similar to that of comparable single-family homes in the area. 

How to Pay for a Home to Age in Place

It's important to note that even when purchasing a home in a retirement community, the cost of housing isn't covered by Medicare, Medicaid or long-term care insurance. That said, there are a few options that seniors can explore that may help them pay for their home. 

• Government programs: Seniors may be eligible for assistance programs such as the Department of Housing and Urban Development (HUD) FHA Reverse Mortgage for Seniors or the USDA Single Family Housing Repair Loans and Grants program.
• Mortgage options: Reverse mortgages provided by the senior's mortgage lender may allow them to borrow against the equity in their current home while FHA loans can help low-income seniors reduce down payments or access credit with a lower credit score. 
• VA loans: Veterans and their surviving spouses can access VA home loans with competitive interest rates and no down payment.
• Conventional mortgages: Seniors can explore traditional mortgage options to pay for their new home, provided they can meet income, down payment and credit requirements. 

Learn More About Retirement Communities and Find Options Near You

While the directory below isn't exhaustive, it can provide seniors with a sense of what their options are in retirement communities where they can purchase their own home. To learn more about retirement community options, contact a local real estate agent.

Alabama

Arizona

California

Colorado

Connecticut

Delaware

Florida

Georgia

Idaho

Illinois

Indiana

Iowa

Louisiana

Maine

Maryland

Massachusetts

Michigan

Minnesota

Mississippi

Missouri

Montana

Nevada

New Hampshire

New Jersey

New Mexico

New York

North Carolina

North Dakota

Ohio

Oklahoma

Oregon

Pennsylvania

Rhode Island

South Carolina

South Dakota

Tennessee

Texas

Utah

Virginia

Washington

Expert Reviewer

Dr. Brindusa Vanta, MD

Dr. Brindusa Vanta is a healthcare professional, researcher, and an experienced medical writer (2000+ articles published online and several medical ebooks). She received her MD degree from "Iuliu Hatieganu" University of Medicine, Romania, and her HD diploma from OCHM - Toronto, Canada.