For many Long Island baby boomers, the idea of aging in place—staying in one’s home through retirement—is appealing. Yet only about 10 % of U.S. homes are fully prepared for senior living (Source: Realtor.com)
How do you decide whether to invest in modifications or move to a home that better suits aging needs?
Assess your current home
- Accessibility barriers: Stairs, narrow doorways and slippery bathrooms make everyday tasks harder as mobility declines. Universal‑design features—lever‑style door handles, step‑free entries, wide hallways, curbless showers and added lighting—improve safety.
- Cost of renovations: A full accessibility retrofit can cost tens of thousands of dollars. Consider whether you’ll recuperate that investment when selling, especially when Suffolk County home prices are at record highs.
- Neighborhood suitability: Is your home near healthcare, shopping and social activities? Communities like Stony Brook and Port Jefferson offer walkable village centers, while more rural areas like Sound Beach or Rocky Point require more driving.
Financial considerations
The IRS allows homeowners to exclude up to $250,000 of capital gains (or $500,000 for married couples filing jointly) when selling a primary residence, provided they’ve lived in the home for at least two of the past five years (Source: Irs.gov). If your home has appreciated substantially, selling may yield tax‑free income to fund your retirement or pay for a more accessible home. Conversely, using home equity for renovations may be preferable if you plan to stay long term. (If you need more information about capital gains, I’d be happy to refer you to a trusted tax advisor)
When does selling makes sense?
- Stairs and multi‑level living can be non‑negotiable obstacles.
- The cost of renovations rivals the equity you’d gain by selling in today’s market.
- You crave a lifestyle change, such as moving closer to family or downsizing to a condo with community amenities.
When does remodeling makes sense?
- You love your neighborhood and its social ties.
- Your home’s layout can be modified affordably—perhaps adding a first‑floor primary suite or installing grab bars.
- The current market inventory is too limited to find a suitable replacement, and you’re willing to wait.
In summary
Choosing between aging in place and selling involves balancing emotional attachments with practical needs. I offer complimentary home evaluations and can connect you with certified aging‑in‑place specialists to help you make the best decision for your future.
Shaughnessy Dusling
Licensed Associate Broker at Real Broker NY LLC
150 Motor Parkway St 401, Hauppauge NY 11788
cell 631.612.1616
shaughnessysells(at)gmail(dotted)com