According to AARP, 90 percent of people age 65 and older would prefer to stay in their own homes as they age, rather than go to a nursing home or assisted living facility. However, of the 63% of U.S. adults who own their own homes, about one-third expect their homes will need major modifications to accommodate aging needs. To address the growing demand for aging in place homes, the National Association of Home Builders (NAHB) developed the Certified Aging-In-Place Specialist (CAPS) program—and Burgin Design Remodel is proud to be a CAPS certified builder specializing in Aging in Place new builds and home remodeling.
Of course, if you or your loved ones are looking into building or renovating a home for aging in place, one of your first questions is likely to be, “How much will it cost?” Here are some key things to keep in mind when it comes to the financial aspects of aging in place.
Cost of Aging in Place vs. the Alternatives
The cost of home modifications can get pricey; however, when compared to other options the cost may be well worth it. The good news is that most aging in place remodeling projects cost under $10,000 – which is still far less than what you might spend on alternative options such as a nursing home or assisted living facility. According to a recent CNBC story, the average monthly cost of assisted living is $3,750, while a private room in a nursing home runs around $8,121. On an annual basis, a nursing home can cost $85,776 to $97,452.
Home Remodels Vary Greatly in Price
Still, it’s important to note that the price range of home renovations for aging in place can vary quite a bit. The amount and cost of modifications needed depends on the individual and family needs of each homeowner. In general though, Hartford Funds says that basic modifications can cost up to $10,000, while more extensive custom builds or remodels can cost up to $100,000 or more. Because of the wide range in price and modification types—not to mention the significant impact of these choices on homeowners’ safety and quality of life—most experts advise anyone interested in Aging in Place to consult a CAPS professional, like Burgin Design Remodel.
Who You Hire Makes a Big Difference in Cost and Quality
When it comes time to make improvements or changes that will help you remain in your home safely and comfortably as long as possible, it’s critical to make sure you hire a company that will do it right. Burgin Design Remodel is an award-winning design-build firm and a CAPS certified builder specializing in Aging in Place in Orange County, California.
At Burgin, the first thing we build is trust. We’ve been serving Santa Ana, Anaheim Hills, Laguna Niguel, North Tustin, Seal Beach, Huntington Beach, Yorba Linda, and other areas of Orange County for more than 30 years. We never cut corners. With each and every project, meticulous attention is paid to superior design, quality materials, and excellence in craftsmanship.
Contact Burgin today to discuss your aging in place needs and how we can help!