Background With more people with dementia living at home, neighborhoods and public spaces are being recognized as dementia care settings. Further, there is a shift from emphasizing the loss and decline of a person with dementia to a focus on strength and capacity. The aim of this paper is to identify assets that contribute to the well-being of people with memory problems and dementia living in a community context in the Netherlands. Methods A deductive content analysis, based on the Asset-Based Community Development (ABCD) framework, was used to analyze qualitative data collected through walking interviews and in-depth interviews with eight participants. The participants included six women and two men and ranged from 59 to 93 years of age. Findings We identified an inventory of physical, social and institutional assets that contribute to participants’ well-being. These assets are divided into two categories that relate to well-being: a) assets to navigate public space, and b) assets to support social inclusion and encounters. We observed that it was not one isolated type of asset that contributed to well-being, but more a combination of different assets. Moreover, we found that participants used assets to gain a sense of relief, confidence and support their sense of belonging and inclusion. Conclusion These findings inform an asset-based perspective of people living with memory problems and dementia that can promote engagement to support dementia-informed community development, public space design, and healthcare innovations to improve the well-being of people with a range of memory problems who live at home.