Spring is in the air. Time for new beginnings and fresh starts. If downsizing or right-sizing is on the horizon, it could be the beginning of a new lifestyle! Perhaps it’s your parents who are downsizing because they:
- can no longer maintain such a large home
- want to live closer to their adult children or other caretakers
- do not have support services to enable them to age in place
Whatever the reason, transitioning to a new lifestyle can be complex and overwhelming. As a professional organizer and move specialist, I work with realtors, financial planners, and wills & estate lawyers. We work together to ensure that your next move is smooth and stress-free. In order to make the transition stress-free, here are some considerations when you or someone you know is downsizing.
Points to Consider When Right-Sizing to a New Lifestyle
Choose your new home. Housing options are as unique as you are, based on your health & medical needs. This may include age-restricted / retirement communities, assisted living arrangements, or nursing homes.
Decide if home modifications are an option. Most seniors prefer to age in place, but their healthcare needs may prevent them from living independently. There may be some home adaptations that will enable you to stay in the home.
Meet healthcare needs. Usually, the closest adult child is responsible for caring for their ageing parents. What if the adult children are not living in the same community?
Consider financial needs. When selling a home, there might be financial implications to consider. The homeowners might have taken out a reverse mortgage to finance health care needs. How do capital gains affect the net proceeds of the sale of the home? How does the sale of the home affect the estate?
Determine legal requirements. It is essential to retain the services of a lawyer specializing in legal issues for the elderly. This may include wills & estates, power of attorney, and representation agreements.
Sell your home. Preparing the home for sale requires caring consideration when dealing with the dearest memories of the homeowner.
- Disposition of clutter & sale of antiques and household possessions
- Staging your home for sale
- Showing your home to prospective buyers throughout the day
- Negotiation and closing logistics of the sale
- Packing & managing the move details
As the homeowner, you do not need to be present while a home is on the market. You can relax comfortably in your new home while experts remove the stress and handle all the details. Contact us for your next stress-free move.
