Whether you’re a senior who is approaching retirement age or an adult child who is helping your parent through issues that surface during a life transition, real estate decisions are an important part of ensuring that seniors are protected after retirement. There are several things for seniors to know when planning for a move or transition.
Relocating For Seniors
Here, we review everything you need to know about relocating for seniors. Would you rather listen to this blog post? Play it below:
Proper Planning Is Key
When it’s time to decide how to handle real estate decisions prior to or after retirement, planning is key. Seniors must consider whether it makes sense for them to remain in their home or think about options. For younger seniors, they may be able to stay in their current home and maintain their property without a problem, or they may be looking to downsize because they no longer need the same amount of space. Older seniors may want a smaller home with an easier floor plan, less outdoor maintenance, or a more convenient location for visiting grandchildren.
The earlier a senior plans, the smoother the real estate process can be.
Upgrades Can Ensure A Stress-Free Sale
If a senior is choosing to sell their home, using the right professionals takes the stress out of the process. Professional Real Estate Specialists (SRES) exist — and they can make your move much easier by guiding you through any situations or complications that may arise.
There are many things to consider when selling a home, but seniors may have less ability or interest in keeping up with home maintenance. Roof replacement, HVAC upgrades, septic maintenance, oil tanks and other home issues can make it difficult to sell a home. Taking care of maintenance issues that would surface in a buyer inspection is best. Moreover, seniors need to know what to expect as far as the marketing process, whether preparing for an open house or showing, it’s important to communicate with the homeowner about staying in the home during showings, possible pet care, or assistance with home upkeep, etc.
Working with the right professionals can reduce the stress for seniors. The goal is to make the transition as seamless as possible.
Family Members Can Help
For family members helping a senior parent or loved one make real estate decisions, the key is to truly listen. Whether they want to stay in their home, downsize, or move to a senior living community, support is needed. Some seniors struggle to vocalize their needs, especially if they have always taken pride in maintaining their own homes and property. It’s important to be aware of independent senior needs, while also planning for the future.
- Having a plan is key.
- Talking with your real estate agent about upgrades that need to be made to your home can create a successful sale.
- Family members can be a great shoulder to lean on; but if you’re planning for a senior you love, it’s important to know that their current needs might not align with their future needs.
LTLA’s Experts Across the Aging Spectrum
Senior transitions can be hard, but it doesn’t have to be that way. At LTLA, we’re here to make sure you’re prepared for retirement. We have an experienced Senior Real Estate Specialist, Jo-Anne Johnson, who can help you through the transition.