Should You Buy a Stair Lift or Move to a Single-Level Home?
Posted on by Eric Rubel
If you’ve been wondering whether you’ll be able to age in place in your current home, you’ve probably realized that many homes have one obstacle in common: stairs. As we age, we naturally lose muscle strength and balance, which can make it more challenging to climb stairs. Seniors with decreased mobility may eventually begin avoiding stairs, cutting them off from key areas of their homes. Luckily, if you plan for this stage of life ahead of time, you have several better options to consider, such as making your own home more accessible with stair lifts, wheelchair ramps, and other modifications or downsizing to a single-level home.
For those with limited mobility, single-floor living may seem like one of the most ideal options, but there are many costs to consider—and not just financial ones. Let’s look at some major factors to bear in mind when deciding whether to buy a stair lift for your current home or move to a single-level home.
Financial Costs
First and foremost, you’ll need to compare the total cost of moving with the cost of modifying your existing home.
Home prices are currently soaring, while the average 30-year fixed-rate mortgage sits at around 7%. If you purchased your current home in the 2010s, when rates averaged around 4%, your monthly mortgage payment would be taking a big jump with today’s higher rates. On top of that, you’d have to pay agent fees, closing costs, and a variety of smaller expenses like storage fees, packing materials, movers, and cleaners—all of which can add up quickly.
There’s also no guarantee that your new single-floor home would be completely accessible. For instance, several years ago we worked with a customer named Andrea who had been diagnosed with multiple sclerosis. Her family considered moving out of the older, multi-level home they’d lived in for years—but found that in most single-level homes within their budget, they’d still need to make expensive modifications to accommodate Andrea’s walker. We were able to modify the family’s current home with the accessibility solutions she needed, allowing her to remain safe and comfortable without needing to move.
In most cases, it will be less expensive to install a stair lift than to move. Straight indoor stair lifts start at around $2,500, and Lifeway’s used stair lifts models, stair lift rental options, and financing options can make this even more affordable.
Convenience & Speed
If you’re currently in good health and your retirement plan is still far off, both moving and modifying your home are good ways to plan for the future. But if time is of the essence—say, if you’ve developed a new health condition which may impact your mobility—you’ll also need to determine which of these is the faster and easier option.
A straight stair lift takes only a few hours to install, and we can typically do this within just a couple of days of your purchase. If you need a curved stair lift, you’ll likely need to wait a few weeks for the rails to be custom-built to fit your staircase.
On the other hand, it’s unlikely that you’d be able to find, purchase, and completely move into a new home within just a month. Housing inventory is low in most regions of the country, with single-level homes even more limited—and thus, more expensive—due to high demand. If you’re searching for a home within a specific area, especially if your budget is limited, you must be prepared to wait. Will it be safe for you to remain in your current home until you find the right home for your mobility needs?
Your Emotional Well-Being
No matter where you choose to live as you age, this stage of life can come with its own mental health hurdles. Experts recognize both stress and loneliness as major health concerns for people of all ages, but particularly among the elderly. This underscores how important aging in place or moving can be not only for your safety, but for your overall well-being.
Moving is stressful even under the best circumstances. In fact, moving is often considered one of the most stressful life events, comparable to divorce or the loss of a loved one. Consider the impact of a move on your mental health. Selling your house will create an environment of upheaval, although this is only temporary. Adjusting to a new environment, however, is a longer-term endeavor which can lead to high levels of anxiety and emotional strain for many people. Finding a home located near your loved ones, if possible, can help you remain social. Otherwise, be sure to seek out local senior centers and other available resources during your home search.
However, if moving means leaving behind a home with decades of memories, a close-knit neighborhood, or a caring local community, you may want to consider accessibility modifications instead. As we age, familiarity is incredibly important, especially for those with memory loss or dementia. Likewise, studies show that loneliness is associated with higher risks for health problems such as heart disease, depression, and cognitive decline. From knowing your way around your local grocery store, to maintaining in-person relationships and continuity with healthcare providers, the value of staying in your home can really add up!
The Bottom Line
Preserving our independence as we age is important, so it’s crucial to determine where you’ll have the best opportunity to live safely and comfortably. While single-floor living is ideal, moving is typically the less affordable, less convenient, and more stressful option—when it’s even an option at all.
Fortunately, installing mobility solutions can help you stay in the home you love for years to come, while saving you time and money. Stair lifts are a great solution for staircases of all sizes and configurations, both indoors and out. Down the road, your accessibility needs may change again, and the money you save now can help you pay for additional modifications, like a walk-in tub or roll-in shower.
If you’re considering whether to move or to stay, start by getting the facts on how much stair lifts and other mobility modifications would cost. Lifeway Mobility offers free home consultations, during which we look for potential safety concerns or mobility barriers, suggest solutions, and answer all your questions. Our experts can provide quotes for any products you’re interested in, and will make sure you have the information you need to make the best decision for your situation.