Making a Home Move as a Senior

Dated: July 12 2021

Views: 722

Moving as a senior doesn’t have to be a headache. There are options and resources available to help seniors make the move from their current home and provide options for the next step. What should you keep in mind before starting? I have a few tips to share!

Work with a specialized agent. 

There are agents that specialize in helping seniors sell their current homes and make the move into an assisted living space, a condo, or a downsized home. They’re called Seniors Real Estate Specialist or SRES. They are specifically trained to help their senior clients overcome and plan for the challenges and situations that may arise during their move. 

Have a plan. 

Are you downsizing, moving into a senior community, moving into a condo, or moving in with a friend or relative? Know your end goal and your agent will help map out the correct steps to make it happen. If you don’t have an exact plan of action, things will be complicated, messy, and overwhelming – fast. An SRES will know the safest and most sound plan, and has the right resources to make it happen.  

Know the upsides. 

Moving into a senior center or community can have some potential upsides. There could be reduced upfront fees for the new member or they may even assist with a portion of their closing costs. Moving into a condo would mean a large reduction in maintenance. The right agent or SRES will make sure to point out the benefits of all your options so you can make an informed decision on what’s best for you. 

Know the downfalls. 

Buying and selling real estate could potentially impact your pension, IRA account, Medicare/Medicaid, or Social Security. Before signing anything, make sure you know how selling your current home will impact your current finances. And then, figure out any downsides to your next move. Again, an experienced real estate agent or SRES should be able to assist with this. 

It’s important to do research on working with the right agent or SRES before beginning. An experienced agent will help make this a no-pressure, no headache move.

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Sherri Gramlich

I am a full-time realtor with Mi Choice Realty, I cover the Downriver Area, but will drive anywhere in Southeast Michigan if that is where you need me. I have been in Real Estate for over 4 years of ....

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