When a Baby Boomer becomes an empty nester, or a Senior loses a spouse, becomes infirmed, or no longer desires to manage a large house and yard, a move to the "right-sized" home or apartment can greatly improve their quality of life. But, then what? As a Senior Real Estate Specialist (SRES), I help ease the transition.
Here are five tips I offer my clients to take the stress out.
Don’t let decluttering overwhelm you.
Years of memories are stored in attics, closets and basements. It can be overwhelming. If possible, start decluttering one drawer, one shelf, or one box at a time. Allow yourself a moment to embrace the memories of past events and loved ones. It may make it easier to let go of old photos and mementoes. If the move is large or imminent, consider using a Professional Organizer or Senior Move Manager. They can assist with Estate Sales and Auctions.
Talk to a SRES before making a lot of costly home repairs.
An SRES can evaluate the current value of your home, the estimated cost of repairs, and the expected value of the home after repairs are made. Depending on your timeframe, extent of repairs needed, and available cash on hand, your SRES can guide and inform your decision to sell your house “As Is” or to make needed repairs. Typically, you can expect a lower sales price with an "As Is" sale. However, it may be the best option if you need to move quickly.
Consider moving first and sell the house when vacant.
Most seniors find it easier to move first and have their house prepped and sold while vacant. This removes the need to leave home every time the house is shown and to constantly keep everything tidy. Furnishings not going to the new home can remain to "stage" the home for sale. And if funds are needed from the sale of their current home in order to move, I advise clients to consult their banker. Taking out an Equity Line and paying it off when the home sells might be in their best interest.
Find a new home that makes you feel safe and lets you stay active.
Take advantage of your SRES’s knowledge of living options for Boomers and Seniors. After understanding your needs and lifestyle choices, they can arrange tours of selected communities (i.e. 55+ Ranch style homes, Independent Living Apartments, or Multi-Generational neighborhoods with amenities), and help you select the right home with access to the resources you want and need.
Proximity is a priority.
Many Boomers and Seniors are looking for their final home or apartment where they can, hopefully, age-in-place. Of key importance is close proximity to family. However, beyond family, I recommend you look for a home that is close to:
•Senior centers and community centers
•Parks, arts & entertainment facilities
•Medical facilities, in-home care, meals-on-wheels and social services
•Public and private transportation / safe sidewalks
•Shopping facilities and volunteer opportunities
Each of these is important to maintain vitality and active aging.
A Senior Real Estate Specialist (SRES) has specialized training and knowledge to assist you. We are aware of resources within our community and have professional partnerships with Elder Law Attorneys, Financial Planners, Senior Care Managers, Senior Move Managers as well as trusted contractors for home repairs.
Please consider contacting me for any of your real estate needs, and especially when your loved ones are anticipating a Later-in-Life move.