• Discounts and special offers
  • Subscriber-only articles and interviews
  • Breaking news and trending topics

Already a subscriber?

By signing up, you accept Moneywise's Terms of Use, Subscription Agreement, and Privacy Policy.

Not interested ?

Fortunately, financial help is available.

Prepping a home for aging in place

The bathing chair helps the disabled and handicap use the bathtub easier with access at the height of a wheelchair. The wall handles help with accessibility.
Ben Carlson / Shutterstock

Popular accessibility modifications include adding grab bars and a shower seat in the master bathroom — which are relatively cheap and easy changes.

But more complicated work may be required when an older person needs a wheelchair or walker to get around. Doorways are often too narrow and kitchen countertops can be too high for a homeowner with serious mobility issues.

Widening doorways and lowering the height of kitchen counters (or raising the floor) can get quite costly. For example, in the kitchen it might be necessary to buy brand-new cabinets — possibly at a price of up to $20,000.

Installing a roll-in shower in a bathroom can cost as much as $10,000, says Homeability.com. Putting in a walk-in bathtub costs an average of $6,000, says Fixr.com

Meet your retirement goals effortlessly

The road to retirement may seem long, but with WiserAdvisor, you can find a trusted partner to guide you every step of the way

WiserAdvisor matches you with vetted financial advisors that offer personalized advice to help you to make the right choices, invest wisely, and secure the retirement you've always dreamed of. Start planning early, and get your retirement mapped out today.

Get Started

Programs that cover all or some of the costs

Man drilling laminate with power drill on the table
Zivica Kerkez / Shutterstock

An older homeowner might decide the modifications aren't worth the expense and hassle. For someone straining to get by on a fixed income and meager savings, the costs might seem out of the question.

But several government and private programs can help offset the cost of aging in place:

  • Medicare, Medicaid and private health insurance generally won't cover modifications to a home, though Medicare might pay for a walk-in tub or wheelchair ramp if either feature is deemed medically necessary.

  • The U.S. Department of Agriculture's Rural Housing Repair Loans and Grants program (at USDA.gov) offers grants so Americans 62 or older can make home repairs and improvements for the sake of health and safety.

  • At NCSHA.org, the National Council of State Housing Agencies has a list of state offices and organizations offering various types of support and assistance.

  • The U.S. Administration on Aging's "Eldercare Locator" tool can help you find home repair and modification resources near you. All you have to do is plug in your ZIP code.

  • A nonprofit called ModestNeeds.org provides "self-sufficiency grants" to help Americans just above the poverty line cover unexpected expenses, such as a necessary home project.

  • Reverse mortgages, available from lenders, allow seniors to tap the equity in their homes to fund improvements.

Never assume that you can't afford whatever alterations are needed to age in place, with all the dignity and comfort of remaining at home. Assistance is out there!

Sponsored

This 2 minute move could knock $500/year off your car insurance in 2024

OfficialCarInsurance.com lets you compare quotes from trusted brands, such as Progressive, Allstate and GEICO to make sure you're getting the best deal.

You can switch to a more affordable auto insurance option in 2 minutes by providing some information about yourself and your vehicle and choosing from their tailor-made results. Find offers as low as $29 a month.

Doug Whiteman Former Editor-in-Chief

Doug Whiteman was formerly the editor-in-chief of MoneyWise. He has been quoted by The Wall Street Journal, USA Today and CNBC.com and has been interviewed on Fox Business, CBS Radio and the syndicated TV show "First Business."

Disclaimer

The content provided on Moneywise is information to help users become financially literate. It is neither tax nor legal advice, is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional. We make no representation or warranty of any kind, either express or implied, with respect to the data provided, the timeliness thereof, the results to be obtained by the use thereof or any other matter. Advertisers are not responsible for the content of this site, including any editorials or reviews that may appear on this site. For complete and current information on any advertiser product, please visit their website.