Many seniors choose to stay in their homes which they have lived in for many, many years and are very happy and satisfied to be there. Others may find themselves thinking of a whole, new easier way of life and quite possibly just a smaller place to live. Then some, they will live in their family home for years while planning to move towards assisted living when their needs require it.
Determining whether or not it is time for a change is often a very difficult decision for our seniors to make and many families find it incredibly challenging to even broach this subject with them. Discussing thoroughly and determining the lifestyle and/or living needs of our senior family members is extremely important and oftentimes very stressful.
There are many factors for seniors and their family to consider to assist in determining if now is the time to make a move and exactly what that move should entail. Our “first generation” retirees may be looking to downsize to a smaller home to be able to take advantage of their golden years…less maintainence, work and upkeep will allow them more free time to enjoy their favorite pastimes. For our “second generation retirees” the driving force may very well be the need for more support and care services.
Here are a few things you should take into consideration while making this very important decision.
IS YOUR HOME TOO BIG? Do you feel like to are just rattling around a big ole’ house feeling overwhelmed by it’s upkeep and maintenance? Too much work, too many expenses and simply too much house for you to care for?
IS YOUR HOME FINANCIALLY AFFORDABLE? Are you having a hard time maintaining your home financially? Have the typical expenses such as taxes, utilities, lawn care etc….become a financial burden? Has retirement involved a reduction in your income and would a smaller-lower priced home or even a condo offer you more financial freedom and flexibility?
ARE YOU READY FOR A LIFESTYLE CHANGE? If you are looking to spend the winter in warmer climates, just want to be closer to family, friends or have the ability to travel at your leisure, a “turn key” home may be a very good fit for you. Something smaller, financially affordable, requiring little to no maintenance and allowing you the financial freedom to travel and come, go, do as you please.
DO YOU WANT TO BE CLOSER TO YOUR FAMILY? Do you find yourself longing to be closer to your children and grandchildren or other close family members? Not only would this allow you to enjoy more fun family times (that you may have otherwise missed), you will also have family close by in case an unexpected need should arise.
DO YOU HAVE PHYSICAL LIMITATIONS IN YOUR HOME – IS IT SAFE? Has your home become unsafe for you? Does your home have too many levels or stairs? Are you in need of handicap accessibility such as wider doorways, a step in shower, safety hand bars etc…? There is truly nothing more important than your safety and well being.
Planning ahead and receiving knowledgeable, financial advice by an expert is vital to your successful move. Please be sure to connect with a good financial adviser and/or accountant early on, to help assess your needs and set a sound financial plan for your future.
I thoroughly enjoy working with our seniors! Always feel free to contact me with any questions you may have. We can work together in setting a plan in motion to make your move as stress free as possible while meeting your current desires or needs.