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How to age in place: A planning guide for homeowners
In this article:
- What is aging in place?
- Why is aging in place in your own home important?
- What to include in an aging-in-place plan
- Aging in place checklist: What to evaluate before staying in your home long term
- How much does aging in place cost?
- How to pay for aging in place expenses
- When aging in place might not be the right choice
- Resources that support aging in place
- Frequently asked questions about aging in place
Quick Answer: Aging in place means remaining safely and comfortably in your own home as you grow older, rather than moving to assisted living or another care setting. Successful aging in place typically requires planning across five areas: home safety modifications, health care access, transportation, caregiving support, and finances. Most older homeowners prefer this option, though fewer than one in five have an actual plan in place.
Key Points
Aging-in-place planning may involve preparing your home, finances, health needs, and support system for the future.
Common aging-in-place modifications include grab bars, ramps, walk-in showers, improved lighting, and smart home technology.
The cost of aging in place may include both upfront home updates and ongoing expenses such as maintenance or in-home care.
An aging-in-place checklist may help homeowners identify safety risks, organize finances, and prepare for long-term independence.
Most older adults want to remain in their homes as they age—but far fewer have made a real plan to do so.
In fact, a University of Michigan National Poll on Healthy Aging found 88% of adults 50 and older say they want to remain at home long term, yet only 15% have seriously planned for it.
This gap between preference and preparation is where many people get caught off guard, financially and functionally.
Remaining at home long term often requires planning for safety, health care, caregiving, transportation, and finances. The right plan depends on your health, mobility, support system, finances, and home environment.
“Aging in place helps people remain self-sufficient, healthy, and socially connected to their communities,” said Shaneece Gaines, program manager of economic and financial security at the National Council on Aging (NCOA), in a 2023 article. “But it’s not just about staying put.”
Here’s what to know about preparing to remain at home as you age, including how to evaluate your home, finances, health needs, and support systems.
What is aging in place?
Aging in place refers to the ability to live safely and comfortably in your home as you get older, rather than moving to a different residence or care setting.
For many people, this means staying in a familiar environment, maintaining independence, and continuing daily activities in the home they know best.
When considering aging in place, NCOA recommends thinking about home safety, transportation, health care, support services, and whether the home itself will remain manageable over time. Successfully remaining at home may also involve preparing for future financial, mobility, and caregiving needs before they become urgent.
Why is aging in place in your own home important?
For many older adults, aging in place is closely tied to independence, familiarity, and emotional well-being.
According to the University of Southern California (USC) Leonard Davis School of Gerontology, many older adults prefer aging in place because it allows them to continue enjoying life on their own terms while maintaining connections to their communities.
Cleveland Clinic geriatric specialist Dr. Ami Hall noted this familiarity can be powerful.
“Nine times out of ten, people want to stay in their home as they age,” Hall said in a blog post. “That’s where they’ve spent a good part of their life and made memories. That’s where they’re more comfortable.”
Remaining in a familiar environment may help preserve routines, reduce stress, and support stability, which is particularly valuable for people experiencing cognitive decline or memory issues.
Independence is another major factor.
“Being able to set and follow your own schedule can be very empowering,” Hall added.
There may also be financial considerations. Fidelity notes remaining in your home—particularly with the right modifications—may be less expensive than moving into an assisted living community.
But aging in place is not always simple or inexpensive. Staying in your home as you age often requires balancing affordability with independence, safety, and health care needs.
What to include in an aging-in-place plan
Aging in place often involves more than making physical changes to the home. Financial planning, transportation, caregiving support, legal preparation, and access to health care may all influence a homeowner’s ability to remain safely and comfortably at home over time.
The following areas may help homeowners evaluate their current situation, identify potential gaps, and prepare for future needs.
1. Current and future health needs
Aging in place starts with assessing your current health and how your needs may change.
This self-assessment should include mobility, balance, vision, chronic conditions, and how easily you manage daily activities such as bathing, dressing, cooking, and climbing stairs.
The National Institute on Aging recommends considering both the kinds of help you need now and the support you may want in the future.
It’s also important to be realistic. In a recent interview, Susan Pomfret, director of consumer education at Finance of America, said many people underestimate how much support they may eventually need.
“This can range from help with activities of daily living to companionship, transportation to medical appointments, help with errands, or even home maintenance like yardwork,” Pomfret added. “Planning for these needs early helps avoid stress later.”
Potential daily living and personal care needs to take into consideration may include:
- Bathing, dressing, grooming, and mobility assistance
- Medication management
- Meal preparation
- Transportation assistance
- Shopping and errands
- Housekeeping and laundry
- In-home nursing or health care support
- Companionship and social support
Planning ahead may help create flexibility and reduce stress if your needs change over time.
2. Home modifications
According to the CDC, more than one in four adults age 65 and older reports a fall each year, making home safety an important part of aging-in-place planning.
One of the most common things people overlook when creating an aging-in-place plan is whether their home is truly practical and safe for long-term living. Many homes were not designed with aging in mind.
Susan Pomfret, Finance of America
Simple modifications may improve safety and accessibility for older adults. Pomfret recommends working with a certified aging-in-place specialist who can assess the home and recommend updates that support long-term safety and accessibility.
Common modifications that may help older adults continue living at home include:
- Improved lighting
- Non-slip flooring
- Grab bars in bathrooms
- Lever-style door handles
- Walk-in showers or shower conversions
- Wider doorways
- Ramps or stair lifts
- Smart home systems and wearable fall-detection devices
- Medication reminders and medical alert systems
A recent New York Times story suggests reducing clutter, relocating frequently used items to easier-to-reach areas, and removing rugs or cords that could create tripping hazards as practical first steps toward improving home safety and accessibility.
Pay particular attention to your bathroom. This is one of the most common problem areas, and injury rates around tubs and toilets increase with age.
“People are often in denial that they need to grab bars, or they’re embarrassed and feel like there’s a stigma,” Hall said. “But it is very important to have them.”
3. Proximity to health care
Access to health care is another major factor in aging in place—and it goes beyond living near a hospital.
You may want to consider the availability of:
- Primary care physicians and medical specialists
- Pharmacies and urgent care services
- Physical therapy and rehabilitation services
- In-home care and caregiving support
- Adult day care programs
- Skilled nursing or long-term care services
Transportation time, mobility limitations, and caregiver availability may also affect access to care over time. Prioritizing preventive care and routine medical visits could help keep smaller health concerns from becoming larger barriers to independence later on.
4. Transportation
Remaining independent may partly depend on having reliable transportation options if driving becomes more difficult over time. Changes in mobility, reaction time, or vision may eventually affect driving ability, even for otherwise healthy adults. Alternatives could include:
- Public transportation
- Ride-share services
- Senior transportation programs
- Transportation assistance from family or friends
Additional support services may include:
- Grocery delivery services
- Prescription fulfillment services
Planning ahead for transportation changes may help older adults remain connected to health care, social activities, and community support over time.
5. Local support services
Local services and support programs may help older adults continue living independently while receiving assistance with daily needs. Resources may include:
- Adult day care programs
- In-home health care
- Medication management programs
- Meal services
- Housekeeping assistance
- Home repair services
- Senior centers
- Community aging programs
Exploring local government and community resources before they become urgently needed may help make long-term independence more sustainable. Public agencies, nonprofit organizations, and community programs may offer transportation, caregiving assistance, meal support, and other services that help older adults remain safely and comfortably at home over time.
6. Community and social connections
Aging in place is not only about physical safety. Social connection matters, too.
According to Fidelity, isolation may undermine even the best aging-in-place plan.
“No matter how safe the inside of a home is, if there isn’t enough interaction with a community, a plan can fall apart,” the article said.
Data from the Cleveland Clinic backs this up: Approximately one in four older adults in the United States may be considered socially isolated, which increases risk for depression, dementia, heart disease, and other health concerns. Staying connected to family, neighbors, friends, faith communities, volunteer groups, senior centers, and local activities may help support emotional and physical well-being over time.
7. Finances
Aging in place often depends on whether you can afford to live in your home long term.
Even if your mortgage is paid off, there are still housing- and care-related costs to consider, including:
- Property taxes
- Homeowners insurance
- Utilities
- Home repairs and upkeep
- Accessibility modifications and home updates
- In-home caregiving, medical support, or personal assistance
NCOA suggests evaluating monthly cash flow, debt, emergency savings, and your ability to handle unexpected home repairs, accessibility upgrades, or future care-related expenses when preparing for long-term independence.
“Financial planning is another critical piece that is sometimes overlooked,” Pomfret said. “Exploring funding strategies and maintaining financial flexibility can make a significant difference.”
8. Legal planning
Preparing legal and health care documents ahead of time may help make future decisions and caregiving responsibilities easier to manage. Pomfret noted this legal preparation is another important part of planning ahead that is often overlooked until families face an emergency.
Important legal documents may include:
- A power of attorney for financial matters
- A health care proxy or medical power of attorney
- An advance directive or living will
- A will or other estate planning documents
“Ensuring documents like powers of attorney, health care directives, and wills are up to date can provide clarity and peace of mind for both the individual and their family,” Pomfret said.
It may also help to discuss who should manage responsibilities such as paying bills, coordinating care, handling insurance matters, or keeping the home in good condition if you are temporarily unable to do so. Planning ahead could help reduce confusion and make future transitions easier for both you and your family.
Aging in place checklist: What to evaluate before staying in your home long term
Preparing to remain in your home long-term may feel overwhelming, but breaking the process into smaller steps could make it more manageable. Use this checklist to help evaluate your readiness.
Health and care planning
☐ Current health assessment: Assess your current health and possible future care needs
☐ Mobility outlook: Consider future mobility and accessibility needs
☐ Local providers: Research nearby health care providers and community services
☐ In-home support: Evaluate potential caregiving or in-home assistance needs
☐ Community connections: Identify nearby aging and community support resources
Home safety and accessibility
☐ Home layout review: Evaluate whether your living space supports long-term independence
☐ Fall prevention: Identify tripping hazards and other safety concerns
☐ Bathroom safety: Improve bathroom safety and accessibility
☐ Accessibility updates: Consider modifications such as grab bars, ramps, or improved lighting
☐ Future repair costs: Estimate potential repair and accessibility upgrade expenses
Transportation and support systems
☐ Transportation backup: Create a backup transportation plan
☐ Support network: Build a network of family members, friends, neighbors, or community organizations
☐ Care planning discussions: Discuss future caregiving expectations and responsibilities with your support network
Financial and legal planning
☐ Monthly cash flow: Assess monthly housing costs, savings, and emergency funds
☐ Funding strategy: Consider how future care or home modification expenses may be covered
☐ Important records: Organize legal and health care documents
☐ Legal preparedness: Review powers of attorney, advance directives, and estate planning documents
Emergency preparedness
☐ Emergency communication: Keep phones or emergency call buttons within reach in key areas of the home, especially the bedroom and bathroom
☐ Monitoring technology: Explore emergency response systems or fall-detection devices
☐ Home security: Install features such as smart doorbells, motion lighting, or accessible window locks
Ongoing planning
☐ Plan review: Revisit your long-term independence plan regularly as needs change
How much does aging in place cost?
The cost of aging in place varies widely depending on your home, health needs, and long-term care needs. Aging-in-place expenses generally fall into two categories: upfront home-preparation costs and ongoing living expenses.
Upfront costs: Preparing your home
These are typically one-time expenses intended to improve safety and accessibility. Examples include:
- Grab bars and handrails
- Improved lighting
- Walk-in showers
- Wider doorways
- Ramps and stair lifts
- Accessibility modifications
- Smart home technology
Estimates from U.S. News and World Report suggest aging-in-place renovations may range from several thousand dollars to more than $50,000, depending on the scope of the project. NCOA noted that the average cost of ramp installation alone is approximately $1,110.
Ongoing costs: Staying in your home over time
Long-term aging in place costs may include:
- Property taxes
- Homeowners insurance
- Utilities
- Home repairs and upkeep
- Transportation expenses
- Grocery, meal, or prescription delivery services
- In-home care or nursing assistance
Care costs may increase significantly depending on the level of support needed.
The median annual cost of adult day care was approximately $26,000, while a home health aide cost nearly $78,000 per year.
2024 Genworth cost of care survey
Understanding both early and long-term costs may help you plan more effectively and avoid unexpected financial strain later.
How to pay for aging in place expenses
Paying for aging in place often involves a combination of personal savings, retirement income, public benefits, and—for some homeowners—home equity. Here is a closer look at some of the most common funding options.
Self-pay and personal savings
Many homeowners use retirement savings, investment accounts, emergency funds, or family support to help cover the costs of aging in place.
These funds may help pay for:
- Home modifications and repairs
- Utilities and other housing expenses
- Transportation
- Caregiving services
- Daily living expenses
Health savings accounts
Health savings accounts (HSAs) may help cover certain medical expenses related to aging in place. Depending on eligibility requirements, these funds may sometimes be used for:
- Medical equipment and alert systems
- Certain accessibility modifications
- In-home care services
Because HSAs became available relatively recently and new contributions generally stop once someone enrolls in Medicare, some older homeowners may have limited access to these accounts. In addition, HSA funds are limited to qualified medical expenses, so it is important to confirm applicable plan rules before using them for aging- in-place costs.
Medicare, Medicaid, and Social Security
Public programs may also help cover certain medical, caregiving, or living expenses associated with aging in place. Coverage and eligibility vary by program and individual circumstances, but may include:
- Medicare: May help pay for certain short-term medical or rehabilitation services, although it generally does not cover long-term custodial care or most home modifications
- Medicaid: May provide longer-term care support for eligible individuals, depending on income and program requirements
- Social Security: May help support ongoing housing and living expenses
Some individuals may be eligible for both Medicare and Medicaid, depending on income and eligibility requirements.
Home equity options
For many homeowners, a large portion of retirement wealth may be tied to their homes. As a result, some older adults explore ways to use home equity to help cover:
- Home modifications and repairs
- Caregiving and in-home support expenses
- Transportation and everyday living costs
- Unexpected housing or medical expenses
Some homeowners compare home equity options when planning for long-term housing and care expenses. Potential ways to tap into home equity include a home equity conversion mortgage (HECM), which is the most common type of reverse mortgage, as well as a home equity line of credit (HELOC), and a home equity loan. Here’s a side-by-side comparison of key differences:
| HECM | HELOC | Home equity loan* | |
| Monthly payment required | No required monthly mortgage payments** | Yes | Yes |
| Age requirement | 62 | 18+ (credit-based) | 18+ (credit-based) |
| How funds are received | Lump sum, line of credit, monthly payments, or combination | Access funds as needed during draw period | One-time lump sum |
| Amortization | Negative amortization may occur, meaning the loan balance may increase over time as interest and fees accrue | Loan balance generally decreases as required payments are made | Loan balance generally decreases as required payments are made |
| Best suited for | Ongoing and evolving needs over time | Short-term or flexible expenses | One-time large expense |
*Finance of America does not offer home equity loans.
**The borrower must meet all loan obligations, including living in the property as the principal residence and paying property charges, including property taxes, fees, and hazard insurance. The borrower must maintain the home. If the homeowner does not meet these loan obligations, then the loan will need to be repaid.
→ Learn more: Reverse mortgage vs HELOC vs home equity loan: Comparing your home equity options.
Reverse mortgages
Pomfret noted some homeowners explore these strategies as part of a broader retirement and long-term independence plan.1
“For many homeowners, leveraging home equity, such as through a reverse mortgage, can provide additional cash flow, helping cover care, home modifications, and everyday expenses while supporting long-term independence,” she said.
One homeowner who explored this approach was Linda, a Finance of America customer who lived in San Francisco for more than 40 years and wanted to remain in the historic Victorian home she loved.
She used funds from a reverse mortgage to pay off an existing mortgage, reduce higher-interest debt, build emergency reserves, and make repairs that helped her remain in her home long term.
→ Read more about her experience: How a reverse mortgage helped Linda remain in the home and community she loves.
For homeowners exploring these options, Finance of America offers reverse mortgage products that may help eligible borrowers access home equity as part of an aging-in-place strategy.
Depending on the loan type and state eligibility requirements, some proprietary reverse mortgage products may also be available to homeowners or spouses age 55 and older.
To learn more, please visit the Consumer Financial Protection Bureau’s “Reverse Mortgage: A Discussion Guide.”
When aging in place might not be the right choice
While many people prefer to remain at home as they age, aging in place may not be the right fit for every situation. In some cases, an assisted living facility, nursing home, or other care setting may provide a safer or more practical level of support.
Alternative living arrangements may be worth considering if:
- You can no longer safely maintain your home
- You require around-the-clock medical or personal care
- Your home cannot reasonably be modified for accessibility
- Transportation or access to health care becomes limited
- Social isolation becomes a concern
- Caregiver support becomes unsustainable
- Housing costs become unmanageable
In these situations, alternatives may include:
- A smaller or more manageable home
- A family living arrangement
- An independent or assisted living community
- A continuing care retirement community
Resources that support aging in place
Aging in place is an ongoing process that may evolve as your health, finances, and support needs change.
Multiple national organizations and community-based resources offer tools and support that may help you get started:
- CAPABLE National Center
- Eldercare Locator
- NCOA
- Administration for Community Living
- Local Area Agencies on Aging
Some homeowners also explore financial tools that may help support aging-in-place expenses over time. Finance of America’s reverse mortgage calculator may help eligible borrowers estimate how much home equity could be available based on age, home value, and location.
Taking small steps now—whether evaluating your home, reviewing finances, or building a support plan—may help create a more sustainable path for aging in place.
Frequently asked questions about aging in place
What are the advantages of aging in place?
Aging in place may help older adults maintain independence, remain in familiar surroundings, preserve routines, and stay connected to their communities and support networks.
How do I start aging-in-place planning?
Planning for long-term independence often starts with evaluating your health, home safety, finances, transportation options, and support system. Many people also begin by identifying potential safety risks in the home and considering how their needs may change over time.
What services are helpful to seniors who are aging in place?
Useful services may include meal delivery, grocery and prescription delivery services, transportation assistance, housekeeping, adult day care, in-home care, and community support programs.
Can home modifications help older adults age in place safely?
Home modifications such as grab bars, improved lighting, walk-in showers, stair lifts, and medical alert systems may help older adults continue living safely and independently in their own homes.
What is the most common aging-in-place remodeling project?
Bathroom modifications are among the most common aging-in-place updates because bathrooms may present higher fall risks as mobility changes.
What does aging in place cost?
The cost of aging in place varies depending on the home, location, modifications needed, and level of care required. Expenses may include one-time home updates such as grab bars, ramps, or walk-in showers, as well as ongoing costs like maintenance, transportation, and in-home care.
Are medical alert systems good for aging in place?
Medical alert systems may help provide added safety and peace of mind, particularly for people who live alone or have mobility or health concerns.
Can a reverse mortgage help with aging in place?
For some eligible homeowners, a reverse mortgage may be one option to help cover home modifications, care expenses, or other retirement costs. Borrowers must continue paying property taxes, maintaining homeowners insurance, keeping the home in good condition, and complying with all loan terms.1
What happens to my reverse mortgage if I have to go into nursing care?
If the home is no longer considered your principal residence for the period allowed under the loan terms, the loan may become due and payable.
This article is part one of a five-part series on aging in place. In the next installment, “Home modifications for aging in place,” we’ll take a closer look at the updates that may help older adults remain safely and comfortably at home over time.
1The right to remain in the home is contingent on paying property taxes and homeowners insurance, maintaining the home, and complying with the loan terms.
About the author
is a Senior Web Content Writer at Finance of America and a journalist with more than 20 years of experience specializing in business, and technology. Her work has been published in The Wall Street Journal, The Financial Times, and numerous other leading outlets.
Disclaimer
This article is intended for general informational and educational purposes only and should not be construed as financial or tax advice. For tax advice, please consult a tax professional. For more information about whether a reverse mortgage fits into your retirement strategy, you should consult your financial advisor.
