Generally speaking, the longer elderly people can remain in their homes, the better off they will be. It is good for the elderly to stay where they are comfortable and where they have built up support networks of friends and family.
It is certainly what most people would prefer to a nursing home. It is also normally better than moving to a new home that a person is not used to. Nevertheless, if aging in place is what you would prefer when you retire, then it is important that you take stock of your home to see if that will be possible.
The New York Times reported on this in "Planning to Age in Place? Find a Contractor Now."
Most homes are not designed and built with the elderly in mind. If nothing else, most homes have far too many stairs that are frequently difficult for elderly people to navigate.
Older homes can be even worse.
For example, many older homes have smaller doorways. Consequently, someone in a wheelchair cannot comfortably get through such doorways, if they can at all.
There are all sorts of things you might not even think about, that can make a home a bad place for an elderly person to live.
Therefore, if you would like to stay in your home in your later years, you need to plan for that now.
Your home most likely needs to be remodeled in some ways to make it safer and more livable. That should be done before the changes are absolutely necessary.
Reference: New York Times (May 19, 2017) "Planning to Age in Place? Find a Contractor Now."