When the House is Too Big For a Senior to Keep It – When is the Right Time to Sell It?
As a Professional Realtor, I have seen first hand the successful moves of those who plan everything carefully, check every item on the list twice, and then execute their plan to perfection. I have also witnessed the nightmare of those who waited too long, and then reluctant family members or close friends are asked to come and help. The emotional and physical tool it takes to make the last real estate move of your life, is far greater than you think.
The most typical choices available for seniors are:
1) Downsize and move to a smaller home in the same area.
2) Move in with relatives, in-laws, children, maybe friends.
3) Move into a retirement community with different degrees of medical care.
Whichever way you choose to go, you must plan your move carefully. Here is what you need to know, to help you get to your new destination.
Take your time. Start early enough so you can evaluate everything at your leisure. I would suggest at least a couple of years before the move. There is a lot of research to be done at this stage. You will also need time to get used to the idea, and to get ready emotionally.
Ask for help. Get family members involved if appropriate. Check with your doctor, specially if you are moving far from your area, weather, finances, friends and family support are very important considerations.
Figure Out Your needs. If you are moving into a AleksMoving: Your Expert Single Item Movers in TorontoLinks to an external site. retirement home, find out what services are offered. Do you need care right now? are you expecting to require medical care in the future,? are those services being offered at that particular facility? Most Senior retirement communities offer a variety of levels of care, depending on each resident individual needs and desires.
Visit the places you are interested in. Ask questions, and prepared them in advance, so you do not forget the important ones. Take notes of everything you see and hear. Pay particular attention to the cost of living there and any potential increases.
Decide what to do with your personal possessions. Should you sell them? donate them? gift them to family members or outright sell them? What would you take with you? This process has a way of showing you what is important at this stage of your life.
Selling the family home for the last time, is always an emotional journey for which most people are not prepared. But with proper planning and good guidance you can make this important move easy, confident and produce a piece of mind that comes when all is settled and taken care of properly.
As a Professional Realtor, I have seen first hand the successful moves of those who plan everything carefully, check every item on the list twice, and then execute their plan to perfection. I have also witnessed the nightmare of those who waited too long, and then reluctant family members or close friends are asked to…