Downsizing: What Seniors Need to Know About the Process
If you're a senior thinking of downsizing during the pandemic, there are a few things you should know. While it’s not impossible to downsize – and may even be a smart move – COVID-19 has changed a few things about the real estate market. This, coupled with the challenges that innately go along with moving to a smaller home, means that your first priority before making the decision is to know what you’re getting yourself into.
Are homes selling?
In many parts of the country, home sales saw a significant dip in March and April. But, as lockdown restrictions are lifted, the real estate market is likely to stabilize. Still, you can set yourself up for selling success by first investigating the local market and then offering ways to make your home feel safer to prospective buyers. These include:
● Offer virtual tours, which includes lots of photographs and videos
● Prioritize cleaning and make sure this is noted in your listing
● Offer an appointment-only open house
● Leave during showings, and cancel if anyone in your home feels ill
● Price your home according to comparable sales, not fear (your real estate agent can help)
Knowing where you want to be
When you downsize, you have options, and many of them. DailyCaring lists a few senior-friendly accommodations, including a senior village, independent living, residential home care, continuing care retirement community, assisted living, and skilled nursing. As an active senior, a village or independent living model may be your most desirable option. You may also consider simply buying a smaller home and outfitting it with modifications that will help you age in place. Before you go this route, find a local realtor that can help you sort through the different neighborhoods and price points in your area.
Senior-family housing
You might be used to your current home, and that second (or third) story may not be a big deal. But, there’s a good chance that you’ll be better off with a single-story floor plan with a large, open bathroom and easy entry. Once you find a home that fits your basic needs, consider the cost of other modifications, such as lighting and installing a walk-in shower. Touchless faucets, senior-friendly flooring, and other simple updates can make a big difference in your quality of life if your mobility, vision, or other aspect of your health declines.
When you’re ready to discuss senior living, please contact the Artesia Christian Home by visiting our website or calling 562-865-5218.
Logistics
During any move, one of the greatest challenges is getting yourself and your home ready for the process. And when you’re moving to a smaller property, that starts with getting rid of the things you no longer use. This can be emotionally challenging, but if you purge wisely, you may be able to bring in some extra cash to pay for things you need at your new home.
Talk to your adult children and grandchildren to find out if there are any heirlooms they would like to keep, and remember that you cannot take everything with you. You’re going to have to be selective about what makes the move. Purging can also make it less expensive when it’s time to call movers since the amount of stuff you have, coupled with how quickly you need your belongings relocated and which day of the week you plan to move, all factor into your overall costs.
Downsizing is a big decision. It’s one that can increase your quality of life and allow you to remain independent for many years to come. But it is not without its challenges, and knowing what you face is the best way to meet them head on so that you can move on with the rest of your life.
Image via Pixabay
