Is It More Cost Effective To Stay In Your Home, Or To Move Into A Nursing Home?

Ever heard of a concept known as aging in place? As time marches on, this term is appearing with more frequency, and more people are choosing to pursue this option. So what is it… and why do we need to know about it?

As you likely have noticed, humans are living longer, healthier, and happier lives with the advancement of modern medicine. This means that older members of our population are facing new challenges, including if they are able to continue to care for themselves in their own home. While the decision to stay at home, move into a nursing home, or move in with family members is deeply personal, there are some facts that can help your decision-making process easier.

It’s no secret that most adults would prefer to stay in their homes, but we often reach a point where it becomes difficult to perform everyday functions. Oftentimes, this can be easily overcome via home modification ⁠— such as in the case of grab bars or stair lifts. Oftentimes falling is the primary concern of independent seniors, and this is a hurdle that can often be combated by simply rearranging hazards like rugs and wires.

If you are dealing with mobility complications, you are certainly not alone. While stair lifts are a great option for many, there is much more you can do to improve the livability of your home. Vertical lifts make spaces more accessible, and solutions like walk-in tubs and showers can easily help you maintain your independence in the home you already cherish. If you are on a budget, many companies, like Leaf Home Safety Solutions, offer financing.

You might be surprised to learn that a renovation is not necessary for most homes, and upgrades like those outlined above typically cost less than a single month in a nursing home. A homeowner could easily have several upgrades done at once and still pay significantly little in comparison to what a single year in a nursing home would cost.

According to LongTermCare.gov, the national average monthly cost of an assisted living facility is $3,628. The national average monthly cost of a semi-private room in a nursing home is nearly double at $6,844, and a private room is more than double that cost at $7,698. Many nursing homes also charge additional fees for certain services.

Whether you own your home or live with family, staying at home is often a cheaper alternative to moving into a nursing home. You may even find that many upgrades, as in the case of our walk-in tubs, both add value to your home and provide relaxation to all members of your household. If you are ready to start aging in place, consider thriving in place instead with solutions designed with you in mind.