At some point in people’s lives, they must decide whether to stay home or look into senior housing. As many as 77% of adults 50 and older want to age in their homes, yet 70% of older adults will need support in their homes. Everyone’s circumstances are different, and people age at different rates. There are many factors to consider. Therefore, there is not a simple answer to this question.

When should you consider staying home or moving to senior housing?

There are six common signs to alert family and friends that a discussion may need to happen about having a person stay home and bring in help or move to a senior housing community.

1. Change in mobility or function – Does the person have a problem moving around the house? Do they need help sitting down or getting up or walking? Do they need help dressing? Are they a fall risk?
2. Household changes: Is food spoiling? Is the house not as tidy as usual? Does it look like they are not taking their medication? Is mail out of control? Are the household cars acquiring dents and scrapes?
3. Judgment with finances – Are they spending more than usual? Are they not paying their bills like they used to?
4. Personality changes – Is their general mood and personality sad or grumpy? Would a different living environment benefit them?
5. Physical changes – Has their hygiene decreased or noticed a significant weight change?
6. Mental health changes – Is there a cognitive decline? Are there memory issues, or do they keep misplacing things? Are they using electronic maps to help guide them through familiar territories?

What else should you consider regarding staying home or moving to senior housing?

When someone has shown warning signs, people must decide what help is needed. The help and costs could be determining factors. An independent person needing little help or no help may benefit socially from an independent senior housing community. On the other hand, a person with physical limitations may need to evaluate home renovations and hire professionals to handle tasks they did themselves, such as a housecleaner, gardener, or handyperson. Those expenses may determine whether staying home or moving to a senior housing facility makes more sense.

In addition, an individual with physical or cognitive impairment may need a caregiver’s help. Which makes more sense – having a caregiver come to the home or living in a assisted living senior housing community. Furthermore, if a person needs 24-hour care, is it better to bring in a caregiver or live in a board and care or skilled nursing facility (SNF)? All questions need to be determined based on the person’s condition and financial resources.

What are the housing costs?

A person’s financial situation can determine where one lives. There are several home options for seniors and rates vary based on location.

• ADUs (Accessory Dwelling Units) – Costs to build one range from $200,000 – $400,000 based on type, size, location, and other details.
• Home Care – $22 to $45 per hour.
• Independent Living Communities – $3,650 to $8,000 monthly. 
• Assisted Living Residences – $3,650 to $8,000 monthly plus 20% to 30%, depending on level of care.
• Continued Care Retirement Community – entrance fee of $40,000 – $2,000,000, then monthly fee of $3,555, but can be higher.
• Residential / Board and Care – Shared rooms $2,500 – $5,000 per month or private room $4,000 – $10,000 per month
• Nursing Home / Skilled Nursing Facility (SNF) – semi-private rooms average $8,390 per month or private rooms average $9,584 per month.

Understanding the costs is essential. In addition, people need to know a person’s financial resources (SSA, pension, 401Ks, investments, annuity, long-term care policies, life insurance, etc.) Plus, homeowners may have more financial resources than non-homeowners. For example, homeowners can sell or rent their homes to help pay expenses. A reverse mortgage is another option for homeowners who want to stay in their homes. All these factors help determine if a person should stay or move.

Who can we seek advice from?

To help understand finances, you can consult a financial advisor, reverse mortgage specialist, or tax specialist/CPA to talk about financial options. To help look at housing options, you can consult an aging placement specialist. Consult an aging care manager if you need a professional to help facilitate the conversation about staying home or moving to a senior housing community. All these professionals are a resource.

STAGES is here to educate you about the resources available.