The majority of seniors in the U.S. believe their homes are appropriate for “aging in place,” or growing old at home, instead of moving to a nursing home, a study said.
According to the 2005 Senior Sentiment Survey, a study by reverse mortgage lender Freedom Financial, 81 percent believe their homes are appropriate for aging in place, the company said Thursday.
Of the seniors who say their homes are appropriate for aging in place, 84 percent said they intend to stay in their homes indefinitely, according to the study.
Asked what modifications were necessary to make their homes more comfortable for aging in place, 42 percent of the survey subjects named installing a shower stall or seat, 37 percent named grab bars, 35 percent named walking ramps, 27 percent mentioned “glow in the dark” light switches and 18 percent named programmable thermostats.
Slightly more than a third of seniors surveyed (35 percent) said they have lived in their current home for more than 20 years.
Overall, 67 percent of seniors indicated high satisfaction levels for their homes. In addition, 76 percent seniors live in a single-family home and 8 percent live in a planned retirement community.
The survey also revealed that of the 25 percent of seniors who expect to move, 40 percent would do so to reduce housing costs, while 36 percent would move to a smaller home.
The 2005 Senior Sentiment Survey explores the financial, social and quality of life attitudes of older Americans.
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