Staging in place: Future proofing in the present

Often shorthand for “not moving into a nursing home,” aging in place can mean one – or potentially more than one – of a few things. For some, it’s staying in their current homes for as long as possible. For others, it’s finding another smaller or more accessible home in the same area. It could also involve plans to ultimately move in with a local loved one.

Whatever approach you’re considering for staying put long term, the place itself is crucial, says Frank McAleer. As senior vice president of wealth planning in the Global Wealth Solutions arm of Raymond James, Frank helps advisors and clients navigate the increasingly entwined worlds of finance and longevity, including aging in place. “Finding the home or making the renovations that will serve you into the future is the first step – and it’s not the silver grab bars and sterility of yesteryear,” he shared. “It’s function with form; designs are a lot more aesthetically pleasing and seamless.”

And the best time to start drawing up those blueprints is now. “If you’re already remodeling a kitchen or a bathroom, why not go ahead and make it accessible or add ergonomic fixtures?” Frank said. “Why not think about changes to accommodate mobility before you ever have trouble with stairs?” 

Pick your place 

If you have multiple homes, start by deciding which fits the “forever” bill best. Some multi-home dwellers even talk about choosing one as the designated their ‘out house’ – the one they’ll be taken out of feet first.

Rank your homes’ suitability by asking yourself a few questions:

Which is closest to your immediate or extended family?

Where are your primary advisors – attorneys, doctors, so on – located?

Where is your social network strongest?

Which area will give you easy access to conveniences and emergency support?

Which region’s weather do you tolerate best?

Could climate change be a factor if, for instance, one home is on a coast or river?

Where do you have the most fun?

If one house is in a college town, that could be a point in its favor. A university’s infrastructure and culture tend to branch out into the surrounding community, putting things like teaching hospitals and thriving arts close at hand.

And if you’re currently working with only one home as a candidate, these same questions can help you decide whether some house hunting is in order. 

Get smart

Making your home an even smarter one – outfitted with technological and architectural features designed to optimize your space – is another step to improve life for both current and future you.

Some options to consider:

Automated lighting and integrated voice assistant features can ensure convenience today and safety tomorrow, with light design that knows your schedule and adapts to your habits and advanced voice systems – with more sophisticated language and contextual comprehension – on call in case of emergencies.

Creating a microgrid, typically through a combination of solar panels, backup battery storage and inverters, can ensure a home powers through electrical outages, keeping its occupants – and any critical appliances or devices – humming along.

Biophilic design integrates natural elements into residential spaces, where things like living walls can enhance air quality and supply fresh herbs for healthy meals and design maximizes natural light and ventilation to reduce energy costs. 

Be move-in ready

If you plan to move in with a family member or loved one, you’ll have another set of questions to ask yourself. Who are you moving in with? What does that look like? Will you live in a wing of their home? In an accessory dwelling on the property? Does that need to be built?

There will be more people and personalities involved in the conversation, but there will also be unique opportunities when you seek long-term “roommate” status.

Financing an addition

Whether it’s adding an accessible wing or second floor or a secondary dwelling on the same property, aspiring cohabitors can fund construction, enhancing their future residence and the larger home’s value.

Overseeing a remodel

Taking point on a renovation – hiring the architect, working with vendors and keeping up with the progress – can ensure you create a space that meets your needs and preferences while keeping the pressure off the homeowner.

Unboxing an abode

The tiny home trend has spawned a cottage industry of home kits – sometimes called “granny pods” or “in-law cottages” when part of a longevity plan. Ranging from affordable and easily assembled cabins to high-tech luxury guest houses starting at $40,000, a kit home could be a great lead-in to a more permanent place.

The foregoing information has been obtained from sources considered to be reliable, but we do not guarantee that it is accurate or complete, it is not a statement of all available data necessary for making an investment decision, and it does not constitute a recommendation.