More than one in five Canadians aged 15 and over have one or more disabilities, most of which affect mobility and flexibility. And almost half (44.9%) of Canadians living with one or more disabilities require an accessibility feature inside their home.
But homeowners may be reluctant to invest in accessible home modifications for fear of reducing the value of their property. Yet making these changes could actually increase the home’s market worth instead.
Why?
We will explore four of the most important reasons below. But first, let’s be clear on what accessible home modifications involve.
What are Accessible Home Modifications?
Accessible home modifications are, quite simply, changes that transform a property into an accessible living environment for people with mobility limitations, disabilities, and any condition that may affect their day-to-day life.
Making accessible home modifications allows homeowners and loved ones to live more comfortably, safely, and independently. This can make a significant impact on their quality of life and finances if they are able to reduce their dependence on at-home care.
For example, an elderly person who struggles to get into and out of a bathtub by themselves will rely on a carer or loved one to help them bathe. That may be physically and emotionally difficult.
However, installing a Roll-in Shower creates a more accessible bathroom and restores some independence. The user is less likely to become injured by climbing in or out of the bathtub.
Other accessible home modifications have the power to achieve similar results throughout a property, inside and out. Common modifications include:
● Grab bars
● Railings
● Stairlifts
● Ceiling lifts
● Transferring devices
● Ramps
● Pool lifts
● Porch lifts
A reliable provider will recommend modifications to suit your unique needs, based on a comprehensive consultation.
How Accessible Home Modifications Increase Property Value
Below, we will explore four reasons why accessible home modifications can make your home more valuable:
Provide a Long-Term Home for Buyers
Purchasing a home is increasingly expensive in Canada, with the average price reaching a record high of $816,720 in early 2022. It’s a long-term investment, but owners may be unable to stay in their home when they reach old age, experience ill health, or sustain a life-changing injury.
As a result, they would need to either pay for professional care, move to an accessible home, or modify their current property.
Not only will adding railings, ramps, or other accessibility features empower you to live more safely in your home, but future buyers could remain in the property for longer. Prospective purchasers may see your accessible home as an investment for the rest of their life — and be prepared to pay for that security.
Whatever the situation, making home modifications today could help someone else tomorrow.
Make Your Home More Appealing to a Wider Range of Demographics
Depending on your location, accessible home modifications can make your home more desirable to buyers from inside and outside the local area. For example, Toronto was named the best place for Canadians to retire in 2019, primarily for its healthcare and hospitals.
If you were to modify your home to make it more accessible in Toronto, you may receive significantly more interest from older buyers. They would have no need to spend additional money on installing accessibility features themselves after the purchase. That means you could command a higher sale price from people who have recently retired and those who intend to soon.
They would be more likely to buy a house that provided the safety, convenience, and peace of mind they need from the start. Buyers could move straight in and take advantage of the accessibility features. And for that, they may be happy to pay a premium.
Create a Safer Environment for Families
Modifying your home to be more accessible could increase its appeal to buyers with young children, or those planning to start families. Grab bars, railings, and ramps reduce the risk of slips and falls around the home — creating a more child-friendly environment than a property without accessibility features.
Loved ones with disabilities or mobility limitations would also be able to navigate the buyers’ new home in safety. This would be a key selling point for prospective buyers who intend to bring a relative with them, such as an aging parent. They would have a ready-made home suitable for everyone, from the youngest to the oldest members of the household.
As such, your accessible property would be more desirable to those who want to purchase a home without the hassle or expense of renovations designed to accommodate their loved ones’ needs.
Offer Buyers a Unique Property to Consider
An accessible home may be unique in certain areas, primarily those with a small number of elderly residents. Buyers without mobility limitations or disabilities may still be willing to pay more for a home with accessibility features than one without, especially if your property has other desirable qualities.
The primary reason is the potential resale value. Investing in an accessible home at a high price may allow the buyers to increase its value even further by creating additional appealing features alongside the existing home modifications, whether that involves adding a pool or an extension.
How Can You Add Accessible Home Modifications to Your Property?
Adding accessible modifications to your home may seem like a daunting task, but it’s actually much simpler than you might expect when you choose a reliable provider.
Total Access Solutions is a trusted name in accessible home modifications, accredited by the Better Business Bureau. We have more than 30 years of experience: we have improved many properties — and lives — with our variety of solutions.
Our certified technicians are on hand to install everything from stairlifts and railings to transferring devices. We source the latest products from the top suppliers for the highest standard of quality.
If you want to speak to a member of our friendly team and learn more about our accessible home modifications, contact Total Access Solutions today!
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