This article points out one dilemma faced by older households. Only some can afford the $261,000 remodel that is featured here. But despite the high cost, for this family the dollar trade off may work: many assisted living or life care communities cost >$50,000/yr. So if they can extend their home living by 4-5 years, the renovation cost might have been worthwhile, at least for the narrowly framed perspective of top-line dollars. We hope that their renovated home is in an age-friendly neighborhood and community as well. However, if you don’t have that kind of money, your options are more limited and you need to make a careful “move or improve” calculation regarding how much renovation you can afford, how functional the result will be, and whether your existing community is the place to age anyway.
For full Washington Post article click HERE
