Why Update Homes?
“… [T]he United States is on an unsustainable fiscal path, largely due to the interaction between an aging population and a health care system . . . that is much higher [cost] than any other advanced economy.”Federal Reserve Chair Jerome Powell, NPR’s Marketplace, interview with Kai Rysdall, July 12, 2018
The research is clear. Americans should update their homes with: no-step entries, curbless showers, grab bars, lever handles, better lighting, technology and more. Updates enable older citizens to age in place with advantages for the well-being of the individual, the family and the community as well as the nation’s overall healthcare strategy and budget.
The economics are clear. One hundred grab bars installed for $300 each breaks even if one fall is avoided. $10,000 spent on home updates breaks even if one month in a nursing home is avoided.
Updating homes isn’t new. We’ve added plumbing, electricity, furnaces, fiber optic cable, and solar collectors. All of these had the backing of public policy to encourage widespread adoption.
Witness how incentives sparked rapid increase of renewable energy production and hybrid vehicles. Private incentives, such as reduced insurance premiums for non-smokers or safe drivers, also led to legislation like smoke detectors, airbags and backup cameras. Read more about incentives here.
A large volumes of updated homes will stimulate innovation in businesses providing services to older adults aging in the community.
HomesRenewed’s strategy is to drive policy to create home update incentives.