Let’s talk about how to calculate your ROI when doing a re-model project.

This is the last in a series about a master bath re-model designed for Nancy and Ron to extend their ability to live at home. You can read how they got started here and how it evolved here.

As you can see, it’s not uncommon for a re-model project to grow beyond the initial idea and budget. The key is understanding what needs to be accomplished – and why. In this case, Nancy and Ron’s goal is to live as long as possible in the home they built 23 years ago.  They accomplished this and more!

Not only is the master bath barrier free – its European spa aura is fun to show off…and…will be an asset when the time to sell arrives. That should be many years away!

Now – let’s look at the immediate return and how this project could save over $60,000 in less than three years.

Assisted Living Costs Can Wipe Out Retirement Saving

In Arizona, the average cost of assisted living is approximately $42,000/year. Nancy and Ron calculate their current home costs at $20,000 a year. At this rate, every year they stay home saves them $22,000. The total investment in the re-model was $37,540. This included my design fee, the contractor and some accessories purchased by Nancy and Ron through Amazon.  It sounds like a lot but consider this…

Every Year At Home Saves Thousands

They hoped the original plan would cost $10-$15,000. Let’s just say they could have gotten it done for $12,500. They paid $37,540 – a $25,040 difference.

It doesn’t take long to make it up…

Assuming $22,000 for every year they defer assisted living, just one more year recovers over half of the entire investment. It takes less than two years to completely cover all costs, and every additional year saves them another $22,000.

Yes, there’s no guarantee the project will keep them out of assisted living. But having no steps or barriers minimizes tripping possibilities – one of the biggest hurdles to senior health.

Let’s consider the features that extend their ability to stay home…

Good Heath Is Cost Effective and Extends Happy Retirements

According to the National Council on Aging: (1)

Falls are the leading cause of fatal injury and the most common cause of nonfatal trauma-related hospital admissions among older adults.

The best way to avoid accidents is to remove obstacles and open up floor space. Here’s what we did for Nancy and Ron:

• The Curbless shower means they never have to step over a curb to get in or out. Eliminating just this one tripping hazard greatly lessens the possibility of a fall.
• The shower door swings both ways. Nancy and Ron never have to worry about getting trapped behind a door that only swings one way.
• The pocket door opens the room to give them more space to move around. It allows them to use the room together without bumping into each other.
• The Delta shower mount with its built-in balance bar guarantees a solid handle to grasp if either one stumbles in the shower.
• The shower has enough room for a wheel chair to turn around in case either needs help with their mobility.
• Easy access to the toilet means fewer steps to reach it with enough space for assistance to get up and down.
• Keeping the window plus plenty of lighting guarantees good visibility 24 hours a day.
• No-slip flooring prevents skids that can lead to falls.

All these improvements make their home safer. And there’s more…

Peace Of Mind Is Priceless!

Nothing beats feeling safe. That kind of security is as healthy for the body as it is for the mind. Living where and how we choose increases our quality of life, especially in our senior years.  Nancy and Ron know their home is safe. If they do move, it’ll be their choice – not because something happened to them.

So the question is, “What kind of life do you want for your senior years?”

Live easy,

~Jeanette

P.S. By the way, I mentioned the spa-like atmosphere of the new bath room. According to Nancy “Every time I take a shower now, I feel like I’m in a five-star resort!”

    (1) https://www.ncoa.org/news/resources-for-reporters/get-the-facts/falls-prevention-facts/

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