Aging in Place: How to Safely Stay in Your Home Longer

For many older adults, aging in place is about maintaining control: familiar routines, staying near your doctor, family and friends, and local spots you know well. Sometimes this means staying in your current home, but maybe a “rightsized” home in your community is a better option. A house with a bedroom and bathroom on the main floor in the same neighborhood can sometimes support independence better than a two-story home with stairs and narrow hallways leading to the bedroom area. Or maybe you purchase a larger multi-generational home or add an accessory dwelling unit (ADU) on the property for a family member or caregiver. 

A good aging in place plan looks at home safety, health and caregiving, finances, and legal documents together rather than in isolation. Starting the process early gives you more choices and lower stress than responding after a crisis, such as a fall or hospital stay. According to Pew Research, 93% of adults over 65 currently live in their own home, and most prefer to remain there. 

Falls are one of the greatest threats to independent living for older adults. One in four Americans age 65 and older experiences a fall each year — with an average cost of approximately $35,000 per fall — making fall prevention an important part of planning to remain at home. 

The good news is that many home-safety improvements can be relatively simple. The National Council on Aging (NCOA) offers a no-cost complimentary assessment called “Falls Free CheckUp” that can give you a falls risk score and resources to prevent falls. Simple adjustments like better lighting, removing tripping hazards, and adding support bars can all make a home easier to navigate. 

Walk through your home room by room to find tripping hazards, tight spaces, and dark areas. Home modifications should be tailored to individual needs and goals, but here are some practical starting points: 

• Bathroom: Consider professionally installed grab bars in the shower and near the toilet. A raised toilet or toilet seat, non-slip surfaces, and brighter lighting can also make the space easier to navigate. Consider whether the bathroom layout and door placement would allow someone to provide assistance in an emergency. 
• Bedroom and stairs: A bed height that allows your feet to rest flat on the floor when sitting at the edge can make getting in and out easier. Automatic light sensors leading from the bed to the bathroom are also suggested. Adding a second handrail on staircases may provide additional support. 
• Kitchen and living areas: Keep frequently used kitchen items within easy reach to reduce unnecessary bending or reaching. Adjust furniture to create clear pathways through commonly used areas. 
• Throughout the house: Secure or remove loose rugs, improve lighting around stairs and hallways, and consider flooring and stair-edge contrast to improve visibility. Smart home technology can also help with everyday tasks. Motion-sensor lighting, video doorbells, fall detection sensors, and voice-activated devices are a few options to consider.

A safe house is only one piece. Aging in place also depends on your health, support network and mental well-being. Assistance from family or professionals can support long-term independence, especially as everyday activities become more difficult. 

Community support resources can also help older adults maintain social connections. Build a circle of care that might include family check-ins, trusted neighbors, local senior centers, faith communities and home-care agencies that assist with meals, laundry and transportation. The NCOA’s BenefitsCheckUp connects older adults to programs that can help them afford daily expenses, live healthy and stay independent. 

Loneliness and anxiety can grow when it becomes harder to leave the house. Hobbies, pets, phone calls and time outdoors can help maintain connections and routines. Regular physical activity appropriate for your health and mobility may also help preserve strength and balance. 

Plan for gradually increasing help. That might mean starting with a weekly cleaning visit or grocery delivery and adding additional support as needs change. Talk with your doctor about your goal to age in place so health, safety and mobility needs can be considered as part of your care. 

As support needs increase, so can the cost of aging in place. In-home care, home maintenance, transportation, therapy and accessibility improvements can all become part of a household’s long-term budget, making it important to consider how those expenses will be funded before they’re urgently needed.

Organizing important documents and identifying trusted decision makers before they’re needed can make it easier for family members and caregivers to help if circumstances change. 

Consider discussing the following with an attorney or other appropriate professional: 

• Durable power of attorney: Can allow a trusted person to help manage financial matters on your behalf, including if you become unable to do so yourself. 
• Health care directive: Can document your treatment wishes and designate someone to make or communicate health care decisions on your behalf, depending on applicable state law. 
• Revocable living trust: May help with managing certain assets and planning how they will be handled during your lifetime and afterward. 
• Beneficiary designations: Review beneficiaries on retirement accounts, life insurance and other applicable accounts periodically to make sure they continue to reflect your wishes. 
• File of Life: A medical history form kept inside a bright red or magnetic pouch that sticks to the front of the refrigerator and a matching sticker on the front door or main window. This provides emergency personnel with critical health and contact information if you are found unconscious, confused or unable to speak. 

Keep a simple “home file” with copies of important documents, a current medication list, insurance information and emergency contacts. This can make it easier for caregivers or family members to locate important information when needed. 

Laws and forms vary by state and individual circumstances, so consider consulting a local elder-law or estate-planning attorney rather than relying on generic templates.

A realistic budget is central to aging in place. Review your current monthly expenses, including property taxes, insurance, utilities, prescriptions and transportation, and consider how these costs and your care needs could change over time. 

Explore resources that may help offset certain costs, including Medicare and supplemental insurance for eligible medical expenses, long-term care insurance, veterans benefits and local programs that may provide assistance with services such as meals, transportation or home repairs. Eligibility and coverage vary. 

For many older adults, their house is their largest asset. CrossCountry Mortgage may help eligible homeowners explore ways to access their home equity through cash-out refinancing, home equity loans or lines of credit, or financing the purchase of a lower-maintenance home.

A reverse mortgage is another option for eligible older homeowners who want to use a portion of their home equity while continuing to live in their home. Depending on the loan, proceeds may be available as a lump sum, monthly distribution, line of credit or combination. 

Because reverse mortgage proceeds can generally be used at the homeowner’s discretion, they may help cover expenses associated with aging in place, such as accessibility modifications, in-home care, transportation, household assistance or other everyday costs. 

Unlike a traditional mortgage, a reverse mortgage does not require monthly principal and interest payments as long as the borrower continues to meet the loan requirements. Borrowers must continue to pay property taxes, homeowners insurance and any applicable HOA dues, maintain the home, and occupy it as their primary residence. The loan generally becomes due when the home is sold, the borrower permanently moves out or no longer occupies the property as their primary residence, or the last borrower passes away. 

Like other mortgage options, reverse mortgages have pros and cons and may not be the best option for your situation. Speaking with a licensed loan officer can help you understand whether one fits your specific plan and what alternatives may be available.

Sometimes the safest way to age in place is not to stay in your current home but to move to a simpler, more accessible one. Evaluate your home honestly: How many stairs are there? What is the bathroom layout? How close are groceries and medical care? Do family members or friends live nearby?

For eligible homeowners, a Home Equity Conversion Mortgage (HECM) for Purchase may provide another way to approach this transition. A HECM for Purchase allows borrowers age 62 or older to use a reverse mortgage to help purchase a new primary residence. This may be an option to explore when moving to a home that better supports aging in place, such as a single-story or lower-maintenance property. 

Major renovations, such as adding a first-floor bedroom or bathroom, can be significant investments. Compare the cost and practicality of modifying your existing home with the possibility of moving to a home that better meets your needs. 

Weigh emotional factors, too. Attachment to your home and neighbors is real, but so is the future risk of staying in a home that no longer fits. CrossCountry Mortgage can help you explore financing scenarios such as staying and refinancing, accessing available home equity, using a reverse mortgage, or selling and purchasing a different home. 

Involve adult children or trusted friends in the decision-making process when appropriate. Then consider reviewing your plan periodically. Your home, finances, health and support needs can change over time, and an aging-in-place plan can change with them.