Obviously, in a perfect world, you’d have saved up enough money to cover the expenses of aging at home. However, for many Canadians, this is not a realistic scenario. The costs of home renovations for aging in place can be substantial, depending on the extent of the modifications needed. Luckily, Canadians do have some options to help finance these renovations: Government programs and grants: In addition to your own savings, as well as the Canadian Pension Plan and Old Age Security, some provinces offer financial assistance for home renovations, especially for seniors and individuals with disabilities. For example, Nova Scotia’s Home Repair and Accessibility Program offers funding up to $18,000 for home repairs and $16,000 for accessibility upgrades. HELOC: A home equity line of credit can let you draw on the value you’ve built up in your home to take out a line of credit. Keep in mind, however, that you’ll risk losing your home if you can’t pay back your balance. Reverse mortgage: A reverse mortgage can also be a good way for those 55 and over to get a loan to help with home renos. However, it's essential to understand the risks involved, such as reduced estate value for your beneficiaries and potential debt accumulation. Aging in place requires time, effort, and no small amount of getting one’s affairs in order. However, many people find the opportunity to live out this last chapter of one’s life in the comfort of their own home to be well worth the challenges and expense of having to prepare that home.  “Being surrounded by a supportive community, familiar routines, and cherished memories fosters emotional stability and a sense of continuity, even as physical or cognitive abilities evolve,” says Margot McWhirter. “This stability not only bolsters mental well-being but also enhances overall quality of life, helping individuals retain a sense of control and belonging.”