Written by Mike Longsdon of ElderFreedom.net
Is your senior parent downsizing soon? Managing such a big move can be overwhelming for older adults, and having assistance from family members can really help reduce the stress of this major transition. You may not be sure about how to best support your loved one during this change. Thankfully, there are a few simple steps you can take to ensure a successful senior downsize.
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1. Research Local Home Prices
Budgeting is important for seniors and caregivers, so be sure to research area home prices before you begin planning your senior loved one’s move. You can use visit real estate websites to quickly pull up average home prices and information about any available properties. For example, with a few clicks, you can see that homes in Palm Beach County have sold for an average of $325,000 over the last month.
Additionally, you’ll need to look into different types of mortgage loans if you can’t afford the money outright. Many lenders, such as PennyMac, provide plenty of information about the different types of loans online, allowing you to do plenty of research before you dive straight into the process. PennyMac mortgage loans include conventional, FHA, and USDA, as well as loans geared toward those who’ve served in the military.
As you research homes in the Palm Beach or Treasure Coast area, it’s crucial that you connect with a skilled and dedicated realtor who has expertise and experience in this market. An expert realtor from the Meyer Lucas team can walk you through the home-purchasing process and find your senior loved one a property that will fit all their needs.
2. Prepare the Current Property
The future home is one financial aspect of this transition. Another budgetary concern is bringing the current home up to speed for saleability. For example, certain types of repairs, like replacing major systems, will likely deter buyers. If you don’t want to list the property as-is, bigger issues need to be addressed before hitting the market, and you’ll have to budget accordingly.
3. Start Cleaning Out Clutter
Helping with downsizing can present challenges for senior caregivers, and you have to know when to encourage your loved one to let go of clutter, or when it may be okay for him/her to hold onto certain items. TruSense explains this process can take time and patience, so begin helping your loved one declutter and downsize well ahead of any actual move dates.
4. Get Estimates From Moving Companies
Hiring professional movers can help your senior’s move feel less stressful, so make sure you know which questions to ask to find the right moving company. You can ask moving companies for references so that you will know that you can trust the people who will be in your loved one’s home. Detailed quotes should also be one of your top requests, allowing you to compare prices and budget accordingly. As a rule of thumb, you can expect to pay around $350 for a one-bedroom move, and closer to $1,500 to move a four-bedroom household.
5. Make a List of Other Moving Tasks
If you have started decluttering and hiring professional movers, you have already helped your senior family member check two items off of their moving list. Now address other essential moving tasks, such as changing an address or donating unwanted items. If your loved one is moving between states, you may also want to confirm whether his/her current Medicare plan is available in the new location.
6. Prepare for Those First Few Nights
Settling into a new home can be stressful for anyone but can be especially difficult for seniors who have lived in their old homes for a long time. You can lessen that stress by preparing some essentials to make those first few nights as comfortable as possible. Some old favorites, like pajamas, coffee, spices or books, can make a new house or apartment feel more like home. If your loved one is transitioning to senior living, you can take extra steps, like ensuring that community staff members will provide a warm welcome.
Managing a downsize can be stressful, even with the right planning and preparation. Because downsizing to a smaller space is like closing a chapter on life for many seniors. Acknowledge how big this transition really is for your senior loved one, and try to stay patient and compassionate every step of the way.
Additional Downsizing Resources
6 Signs a Senior Needs Assisted Living
Home Modifications for Seniors: A Room-by-Room Guide for Safety and Independence
ABOUT MEYER LUCAS TEAM AT COMPASS
The Meyer Lucas Team at Compass is an award-winning, top-producing real estate team based in the Jupiter area of South Florida and led by Holly Meyer Lucas. Consistently ranked among the leading real estate teams in the state and nation, Holly and her team take pride in providing premium luxury real estate services to our local communities across the Palm Beaches and Treasure Coast. While Holly is known locally and recognized nationally for her work finding homes for Jupiter's professional athletes and their families, the Meyer Lucas Team treats every buyer and seller like a VIP. Whether you are buying a home, selling a home, or investing in real estate, contact our team today to get the ball rolling on your next move. Learn more about the Meyer Lucas Team at www.meyerlucas.com.