“We’re not moving.”

For many homeowners, that decision feels simple. A home represents familiarity, independence, community, and years of memories. Wanting to remain there is understandable—and, with the right property and support, it may be a realistic long-term choice.

The problem is not choosing to stay. The problem is waiting until a health event, mobility change, or caregiving need forces the decision to be made quickly.

During The Lutkins Group’s Lunch & Learn, “The Hidden Costs of Aging,” Jessica G. Perry, CFP®, CRPC™, of Potomac Bank discussed how financial, health care, housing, and family decisions can change through different stages of aging. One idea connected all of them: decisions made before a crisis usually come with more options than decisions made during one.

That is especially true when your home is involved.

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Is Your Home Supporting Your Independence?

A home that works well today may become more difficult to manage over time. The question is not simply whether you love it. It is whether the property can continue supporting your safety, independence, finances, and daily routine if your needs change.

Look at the home as objectively as possible:

• Are the bedroom, full bathroom, kitchen, and laundry accessible without stairs?

• Are there steps at the entrance or between frequently used rooms?

• Could doorways accommodate a walker or wheelchair if necessary?

• Is there a safe, practical place for a caregiver to assist you?

• How much ongoing maintenance does the property require?

• Can you continue driving, or are essential services available nearby?

• Are friends, family members, and social activities close enough to remain connected?

None of these questions automatically means that you should move. They help reveal what staying would realistically require.

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The Cost of Staying Is More Than the Mortgage

Homeowners who have paid off their mortgage may understandably view remaining in place as the least expensive option. The calculation can be more complicated.

Potential costs may include:

• A stairlift, ramp, accessible shower, grab bars, improved lighting, or wider doorways

• Landscaping, snow removal, repairs, cleaning, and routine maintenance

• In-home assistance with meals, errands, transportation, or personal care

• A larger renovation to create main-level living

• Transportation services if driving is no longer possible

• Higher property taxes, insurance, utilities, or association fees

• Emergency work if modifications are delayed until they are urgently needed

Some improvements can make a home substantially safer and more functional. Others may require a significant investment without fully resolving concerns related to location, isolation, maintenance, or access to care.

Before committing to a major renovation, compare the full cost of remaining with the cost and lifestyle offered by other housing options.

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A Valuable Home Is Not the Same as Available Cash

For many older adults, the home is their largest financial asset. It may also represent a large portion of the resources that could eventually help pay for care or support a surviving spouse.

Home equity, however, is not liquid. Accessing it generally requires selling the property, borrowing against it, or using another specialized financial strategy. Each option can affect cash flow, taxes, eligibility for certain programs, the estate, and the amount of control retained over the asset.

That is why the real estate conversation should not happen in isolation. Before selling, transferring ownership, adding someone to a deed, or borrowing against the home, consult the appropriate financial, legal, tax, and insurance professionals.

The role of a knowledgeable real estate professional is to help you understand the property’s value, likely marketability, preparation needs, selling timeline, and available housing alternatives so that those facts can become part of the larger plan.

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Urgent Moves Carry Hidden Costs Too

When a move follows a hospitalization, fall, loss of a spouse, or sudden need for care, the family may have very little time to act.

Adult children may need to travel, miss work, sort through decades of belongings, arrange repairs, choose a new living environment, and prepare a home for sale—all while managing medical decisions and supporting a parent emotionally.

Time pressure can also limit choices. A family may have to accept the first available care setting, sell before completing beneficial repairs, or make decisions without fully understanding the financial consequences.

The cost is not only financial. It can include stress, conflict, lost time, and the feeling that events—not the homeowner—are controlling the outcome.

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Three Housing Paths to Explore

Most homeowners considering the future are comparing some version of three options. Exploring them does not commit you to any one path.

1. Modify the Current Home

This may work well when the location remains convenient, the layout can be adapted, maintenance is manageable, and sufficient support is available nearby.

Obtain realistic estimates for modifications and ongoing services. Consider not only what is needed now, but what could be required if mobility or care needs change.

2. Rightsize Locally

Moving to a smaller or lower-maintenance property can preserve familiar doctors, friendships, community connections, and routines while reducing physical upkeep.

Options might include a condominium, one-level home, villa, or 55+ community. Compare accessibility, association responsibilities, transportation, amenities, and future care options—not just square footage.

3. Relocate Closer to Family or Support

Living closer to adult children or other trusted people may make future assistance easier. It can also create new questions about community, health care providers, taxes, cost of living, and whether family members share the same expectations about support.

Have those conversations before choosing a location or purchasing a home.

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Questions to Ask Before You Need an Answer

If you are unsure which path makes sense, start with these questions:

1. If nothing changed, would this home still work for me five or ten years from now?

2. What modifications would be necessary, and what would they realistically cost?

3. Who would maintain the property if I could not?

4. How would I get to appointments, groceries, and social activities if I stopped driving?

5. Is the person I expect to help aware of that expectation?

6. Would moving now be easier than moving after a health event?

7. What would I gain—not only give up—by rightsizing or relocating?

8. How might a sale affect my broader financial, tax, and care plan?

9. If my family had to manage the home without me, would they know what to do?

You may decide that your current home remains the best choice. You may discover that a few thoughtful modifications would make it work better. Or you may realize that moving sooner could create more freedom, connection, and predictability.

The goal is not to push a particular decision. It is to make sure the decision is truly yours.

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Make the Housing Conversation Part of the Plan

Housing, finances, care, and family responsibilities are closely connected. A decision in one area can affect all the others.

Begin by talking with the people who may be involved. Then gather information from qualified professionals who can address the different parts of the plan. A team may include a financial adviser, elder-law attorney, tax professional, insurance specialist, health care provider, aging-life professional, and experienced real estate adviser.

The earlier you begin, the more time you have to compare options, prepare the property, coordinate a move, and choose a home or community that supports the life you want.

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Watch the Full Lunch & Learn

Watch The Hidden Costs of Aging with Jessica G. Perry, CFP®, CRPC™, of Potomac Bank for a broader discussion of aging, long-term care, Medicare and Medicaid, family planning, trusted contacts, and financial preparation.

If you are beginning to evaluate whether to remain in your home, rightsize, explore a 55+ community, or move closer to family, The Lutkins Group can help you understand the real estate side of your options. Additional resources for older adults and families are available through Next Chapter Living.

This article and presentation are provided for general educational purposes and should not be considered individualized financial, legal, tax, insurance, or health care advice. Consult qualified professionals regarding your circumstances.