Taking equity from your home can help older people stay solvent.
(123RF)
"The people for whom it is hardest to stay in their house want to stay the most," says Elinor Ginzler, coauthor of Caring for Your Parents and the director of livable communities at AARP, the Washington, D.C.–based lobbying group for older Americans. The good news: It may very well be possible. By carefully thinking through your options before you're in poor health, your home environment can meet your needs for the rest of your life. Here are some suggestions.
Modify your house
Share Your Thoughts
How do you plan to avoid a nursing home for your parents or yourself?
- Remove throw rugs to prevent tripping
- Install motion-sensor lighting to make nighttime trips to the bathroom less perilous
- Use a no-skid spray on slippery floor surfaces like tiles and linoleum
- Install grab bars in tubs and on stairs
- Remove knobs on cupboards and replace them with lever handles, which are easier to grasp
Enlist your family
Make sure your family knows you wish to remain in your home as long as possible. You can do that in an advanced care directive, which lays out the type of care you want toward the end of your life. Better to have forthright discussions up front so that you can discuss how your desire to stay at home can be achieved. Adult children may not realize that parents can be safe at home if the right modifications are made.




