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The Financials Behind Your Home Modifications

The number of Irish seniors who are choosing to age independently is on the rise – and it’s easy to see why. The home modifications of today are second-to-none, and can transform your home into a comfortable haven of independent living – even well into old age.

With total home modifications coming in at between €18,000 and €20,000, it’s no surprise that many find this very daunting to say the least. But it really doesn’t have to be. Ireland has a number of options available to those who need to fund their home modifications without breaking the bank or going into debt.

Let’s first take a look at some of the financial options available to Irish seniors…

Funding home modifications in Ireland

Thousands of Euros is a daunting concept for the best of us, even when it’s a worthwhile investment like life-changing home modifications. However, if you live in Ireland, grants may go a long way in helping you make these investments.

Home Adaptation Grants for people with a Disability

Perhaps one of the most popular ways of affording home modifications are Home Adaptation Grants. And there are a few available, especially if the person ageing in place is registered with a disability.

Housing Adaptation Grants for older people and people with a disability: 

An Irish senior with a disability can apply for this to get their home modifications paid for. You may be able to claim up to €30,000, which could well cover your entire modification costs. There are even options for non-seniors with disabilities to get this funding, which you can read about here. 

Read more about Housing Adaptation Grants for older people here. 

For more information and to see if you qualify for a grant please use our home adaptation grant checklist .

Other ways to fund your home modifications

Of course, major investments like home modifications require forward planning, budgeting and financial strategies. Some seniors opt for spending their life savings on transforming their home, with the logic that it’s the best use of money sitting in the bank. Others may look at remortgaging their home, or even selling assets to repurpose the money into the home.

If none of these things are an option for you, and you are not registered to have a disability, you still have numerous options available to you.

Take a look at some of the other ways you can get a boost, or even get covered for your home modifications in 2022.

Check your eligibility for a grant on our mobility aids grant calculator or call our advisors for consultation: 1800 22 33 11 (toll-free number).

Home Modification or Nursing Home?

You’ve seen the realistic costs when it comes to individual home modifications – and ways in which Irish seniors may be able to fund them. But there’s another big decision to make – is it more financially viable to pay for home modifications, or for a traditional nursing home?

There are endless factors to consider here, but the happiness and comfort of the senior in question undoubtedly ranks above the rest.

It’s also worth pointing out that while modifications are costly, an investment like this is generally a one-off payment (of course this is not taking into account any repairs or upgrades that you may opt for later down the line).

A traditional nursing home in Ireland can cost €1,564 a week. It’s worth grabbing a pen and paper and really working out your costs for all options to see which one works for you.

Still not sure which option is best?

Read more on ageing at home vs traditional nursing home care.