Brenda Edwards views the four-bedroom ranch-style house where she’s lived for two decades as her permanent residence. It’s where the 70-year-old retired nurse and her 79-year-old husband intend to stay, even as their mobility declines.
To prepare for the future, Edwards spent $20,000 on an interior designer and another $95,000 to modify their home in Oakdale, California. They widened kitchen aisles to fit a wheelchair if needed, and upgraded the bathroom with a walk-in steam shower and an electronic toilet seat.
“We felt comfortable,” Edwards explained, describing why they chose to invest in their home instead of downsizing. “We have a pool. We have a spa. We’ve put a lot of love and effort into this yard. We want to stay.”
Even if they considered moving, Edwards said it wouldn’t be financially practical. They’ve almost paid off their mortgage, and “it would be too difficult to buy something else,” she added.
Gene and Sallie Carr (Via Riley Ford/Shutterstock)
Like Edwards and her husband, most adults over 50 prefer staying in their current homes as long as possible, according to a poll by the Associated Press-NORC Center for Public Affairs Research.
However, many feel constrained. Some baby boomers and older Generation X members have locked in low mortgage rates they’re reluctant to give up. Meanwhile, rising housing costs driven by limited supply make moving a complex decision.
Despite feeling anchored, some older adults have enough discretionary funds to invest in upgrades that enhance both enjoyment and accessibility at home. This has boosted demand for discreet safety features like bars, lower sinks, residential elevators, and other amenities, benefiting home improvement stores, contractors, designers, and architects alike.
