Does “Aging in Place” Make the Most Sense?
A desire among many seniors is to “age in place.” According to the Senior Resource Guide, the term means,
“…that you will be remaining in your own home for the later years of your life; not moving into a smaller home, assisted living, or a retirement community etcetera.”
There is no doubt about it – there’s a comfort in staying in a home you’ve lived in for many years instead of moving to a totally new or unfamiliar environment. There is, however, new information that suggests this might not be the best option for everyone. The familiarity of your current home is the pro of aging in place, but the potential financial drawbacks to remodeling or renovating might actually be more costly than the long-term benefits.
A recent report from the Joint Center for Housing Studies of Harvard University (JCHS) titled Housing America’s Older Adults explained,
“Given their high homeownership rates, most older adults live in single-family homes. Of the 24 million homeowners age 65 and over, fully 80 percent lived in detached single-family units…The majority of these homes are now at least 40 years old and therefore may present maintenance challenges for their owners.”
If you’re in this spot, 40 years ago you may have had a growing family. For that reason, you probably purchased a 4-bedroom Colonial on a large piece of property in a child-friendly neighborhood. It was a great choice for your family, and you still love that home.
Today, your kids are likely grown and moved out, so you don’t need all of those bedrooms. Yard upkeep is probably very time consuming, too. You might be thinking about taking some equity out of your house and converting one of your bedrooms into a massive master bathroom, and maybe another room into an open-space reading nook. You might also be thinking about cutting back on lawn maintenance by installing a pool surrounded by beautiful paving stones.
It all sounds wonderful, doesn’t it? For the short term, you may really enjoy the new upgrades, but you’ll still have to climb those stairs, pay to heat and cool a home that’s larger than what you need, and continue fixing all the things that start to go wrong with a 40-year-old home.
Last month, in their Retirement Report, Kiplinger addressed the point,
“Renovations are just a part of what you need to make aging in place work for you. While it’s typically less expensive to remain in your home than to pay for assisted living, that doesn’t mean it’s a slam dunk to stay put. You’ll still have a long to-do list. Just one example: You need to plan ahead for how you will manage maintenance and care—for your home, and for yourself.”
So, at some point, the time may come when you decide to sell this house anyway. That can pose a big challenge if you’ve already taken cash value out of your home and used it to do the type of remodeling we mentioned above. Realistically, you may have inadvertently lowered the value of your home by doing things like reducing the number of bedrooms. The family moving into your neighborhood is probably similar to what your family was 40 years ago. They probably have young children, need the extra bedrooms, and may be nervous about the pool.
Bottom Line
Before you spend the money to remodel or renovate your current house so you can age in place, let’s get together to determine if it is truly your best option. Making a move to a smaller home in the neighborhood might make the most sense.

What’s the Cost to Rent 1,000 Sq Ft in Utah?
Utah has an avg rent of $1,612/mo. The avg apartment size is 920 sq ft. Rent per sq ft comes to about $1.75. Utah ranks among the more costly states for rental housing. It’s a competitive market for renters valuing both space and location.
How to Determine Home Value
To determine a home's value, consider various methods including online automated valuation models (AVMs), which use public records and recent sales data. For a more detailed assessment, a comparative market analysis (CMA) from a local agent or a professional...

The Minimum Savings You Need to Retire in Utah
Utah ranks #15 among the most expensive states to retire based on the minimum savings needed Minimum savings needed to retire in the state: $1,083,951 Annual cost of living (total expenditures): $65,795 Annual Social Security income: $22,523.40 Annual expenditures...

Happy Father’s Day
Approximately 2.5 billion Father's Day cards are sent each year. Neckties have become a popular traditional gift for Father's Day. "World's Greatest Dad" is a popular Father's Day phrase. Breakfast in bed is a common Father's Day...

Happy Flag Day
Flag Day is the American flag's birthday party every June 14th! Flag Day was proclaimed in 1916 but officially recognized in 1949. Talk about a late celebration! Betsy Ross, a seamstress, sewed the first flag. Imagine if designers today made flag-inspired...

Why Everyone’s Moving to Utah
Utah ranks as the best state to live in for the 3rd consecutive year. Residents enjoy a mix of urban life in Salt Lake City and scenic small towns like Midway. It stands out for its fiscal stability, family-friendly communities, and outdoor recreation. A lower cost of...

Utah’s Home Values and Mortgage Balances Over 5 Years
Avg home value in 2025: ~$550K Change: ↑ 42% from ~$367K in 2020 Avg mortgage balance in 2025: ~$312K Change: ↑ 39% from ~$225K in 2020 US national 5-yr growth: • Home value: ↑ 40% • Mortgage balance: ↑ 24%

June is National Homeowners Month
In recognition of National Homeowner Month, it's essential to shed light on the multifaceted value that homeownership brings to individuals, families, and communities at large. This observance not only celebrates the achievement of owning a home but also delves...

Utah Tops Nation in Income vs. Cost of Living
Utah ranks #1 nationally for household income adjusted for cost of living, boosting real buying power. Utah’s diversified economy and strong GDP growth fuel rising household wages despite high housing costs.
Governor meets with mayors about boosting housing stock, announces dashboard to view progress
Utah aims to build 35,000 starter homes in four years to address housing affordability. Gov. Spencer Cox met with 48 mayors to discuss progress, noting 5,100 homes are underway but more effort is needed due to population growth. Cities like Clearfield and Herriman...