What does Accessibility Mean?
Is it different than wheelchair accessible?
One of the trickiest things about accessibility is that everyone's needs are different. What is accessible to one person may not be accessible to others. A visually impaired person has different needs than someone in a wheelchair. The important thing is to have a professional evaluate one's needs and provide solutions to those specific needs.
What is aging in place?
Why is it important?
As we get older our activities for daily living change. Aging in Place refers to a person being able to live in the residence of their preference and are still able to access the things that they require and use in their daily life.
Being prepared and planning for future years is important before it becomes urgent and life-changing.
Are there tax breaks for home modifications?
With the introduction of the Senior Accessible Housing Act in 2017, seniors ages 60+ can receive a credit of up to $30,000 to make modifications to their home including:
the installation of entrance and exit ramps;
the widening of doorways;
the installation of handrails or grab bars;
the installation of non-slip flooring
other modifications that the Internal Revenue Service (IRS) includes on a list of modifications that would enhance the ability of the individuals to remain living safely, independently, and comfortably in their residences.
Learn more about the act here.
How can you tell if you should invest in aging-in place vs. moving to a retirement community?
Here are a few questions to ask yourself to help you decide whether a retirement community or aging-in-place is the better choice for you:
Do you like being alone? Or would you prefer to be closer to more social activities? Do you have family or friends nearby to help you in an emergency? Is your home safe? How will you get around for errands if you can no longer drive? What is your budget today and in the future?
Having this discussion with your family can help you make the right choice! You could also have a specialist come out and assess your home to decide what types of improvements could be made in your home to make it a better fit for the future.