Downsizing brings a host of benefits for older adults: fewer areas to clean and maintain, little to no outdoor upkeep to worry about, reduced financial concerns, and more. Seniors facing the boredom and isolation of living solo in an empty nest may feel it’s time to move to a smaller home in a tight-knit neighborhood or even to a thriving senior living community.
While downsizing can improve an older adult’s quality of life, it often isn’t an easy decision to make. For most seniors, downsizing means leaving a home they’ve lived in for decades. Letting go of a space that has housed a lifetime of memories can be incredibly hard, especially when you’ve made it your own over the years. Loved ones may also find it challenging as they reminisce about holidays together, family gatherings, and the home they grew up in.
Along with this emotional stress, selling a house is daunting. While most seniors have likely had some experience with the world of real estate, they may not have had to sell a house in years, if at all. To help make this process easier, we’ve created a brief refresher for seniors preparing to sell their home, highlighting a few key steps to follow when the time comes to downsize and move.
- Seek Out An Expert Opinion
When embarking on any major financial venture, the first step should always be to speak with a financial advisor. Whether this means a trusted friend who has had a long career in the field or a paid professional, ensure you don’t skip this step. It’s essential, and your future self will thank you!
An expert financial advisor can help you determine whether now is the best time to sell, what you can expect from the current housing market, what financial steps you will need to take, and other uncertainties you can anticipate during the selling process.
- Talk to Your Loved Ones
After you’ve spoken to an expert, it’s a good idea to communicate your intent to sell your house to your family and friends. Remember to be patient with them and yourself since this change can bring a lot of stress and heavy emotions. It’s kind to keep them informed, but ultimately this is your decision, so don’t be afraid to use your discretion regarding what you want to share and when you’re comfortable sharing the news.
If you’re open to help, your loved ones can offer important insights, second opinions, and even assistance with the administrative and physical tasks of moving. As the move-out date approaches, they can assist with packing, decluttering, repairs, securing a good moving company, and more.
- Make Your Plan
This step can potentially be the most anticipated or the most dreaded. You’ve spoken with a financial advisor and your family. Now, it’s time to actually make your plan to sell!
Making a formal plan isn’t unnecessary busywork. It’s a roadmap that will help guide you through the moving process. The plan can be as broad or as detailed as you want, though it’s probably better to err on the detailed side. You can always change or omit things later.
Include your anticipated timeline, each step you need to take, and how you will make that step happen. You may also want to include important phone numbers you’ll need during the process, notes about your preferred packing system, and a list of places to store or get rid of belongings you don’t intend to keep. When your plan is ready, put it somewhere you’ll see regularly, such as on the refrigerator.
- Find a Quality Real Estate Agent
Some people find success in selling their own homes, but as with step one, it’s always best to find an expert to assist you. A good real estate agent will know how to price your home to maximize its worth and minimize the time it spends on the market. As a professional, they may have access to knowledge and options you may not. In addition, they will be there to lean on as you navigate the moving pieces involved in a successful sale.
An inexperienced or poorly-rated real estate agent can be more frustrating to work with than having no real estate agent at all. Take time to research before making a final choice, as collaborating with the wrong agent can needlessly cost you time, energy, and money you can’t get back. Asking for a referral or recommendation from a senior living expert can point you in the right direction and connect you with expertise from a professional familiar with senior transitions.
- Get Your Home Ready to Sell
Before putting your house on the market, be sure it is ready to sell. This step allows you to focus on three main tasks: decluttering, repairs, and renovations.
Since downsizing means moving into a smaller home or senior living community, decluttering is often considered a necessary evil. Seniors and their loved ones often find this to be the most intimidating part of a move. Clutter is overwhelming, and it can be hard to know where to start. Starting sooner rather than later, whenever possible, is always advisable, as the process may take longer than expected.
Instead of focusing on all the things you’re letting go of, it can be beneficial to focus on what you’re making room for: a new home surrounded by belongings you truly love and need. With this as your central focus, work through the following steps to prepare your home:
- Eliminate duplicates and items that can be discarded to give yourself a quick and easy win. Gradually work from room to room to sort, give away, donate, and discard.
- Take stock of any repairs or renovations you should complete before selling. Most buyers aren’t looking for a DIY project unless redevelopers or renovators are considering the home.
- Make the necessary repairs and renovations before you sell for better buyer appeal.
- Prioritize safety issues, such as mold, fire hazards, and tripping hazards. It’s a smart idea to consider hiring a home inspector to catch anything you might have missed.
- Once the safety concerns are fixed, consider adding a fresh coat of paint or touching up the landscaping to increase your resale value and curb appeal.
- Contact Professional Movers
Last but not least, consider contacting a professional moving company before the big day. Avoid the angst of risking injury or badgering your family to do the heavy lifting. Moving day can bring complex emotions, rooms and hallways full of boxes, potential chaos, and a home that’s unsafe to navigate for those with mobility issues.
Research well-reviewed movers or speak with a senior living sales counselor for a recommendation or referral specializing in senior transitions. This step can spare you and your family the extra stress and unexpected emergency room visit.
A New Perspective
Even when you take the necessary steps to plan ahead, downsizing and selling your home can feel chaotic and overwhelming for seniors and their families. However, by shifting your focus from what you are losing to what you will gain, you can find relief, peace of mind, and a renewed perspective on life.
Learn more about the benefits of downsizing and the appeal of joining a senior living community by connecting with a Cardinal Bay senior care expert today! Check out our valuable free resources by subscribing to our blog or scheduling a tour at any of our independent living, assisted living, and memory care communities in Central Texas and Oklahoma.