Part 3, How to Prepare

There is no doubt about it, moving is a lot of work.  Selling your home, buying a new one, working with agents, buyers and sellers, getting both homes ready, changes of addresses, and packing - just to name a few - is time consuming.

It's also something that shouldn't be done alone.  Seniors need to share their plans with their family and get them involved.  This reduces the stress and questions over aging, health, health care, safety, distance, finance and inheritance. 

This blog, and the 2 parts previous, need to read and planned with everyone in the family.

 

It's you that's moving...

 

Start thinking and planning on the years ahead

Start now!  (Even if you are not close to retirement).  Where do you want to be?  How do you want to spend your time.  What size home do you want?  Will children and grandchildren be visiting? 

Prepare emotionally

It's hard to move and leave those memories behind.  I've personally experienced this with my grandfathers home.  After most things were moved out, I was walking through it and had almost 50 years of memories flashback.  Again, it's hard to let go.  But, eventually we must.  Start focusing on your new life and make it a positive experience.

What's your income level going to be?

The best thing to do is meet with your financial planner and decide what you can afford to do during your retirement.

How long will you work?

As posted in Part 2, people are working in to their later years.  This will definitely make a difference in what you do and how you do it. 

What is my home worth?

Hopefully you do not have to move when the market is down.  Although their is no crystal ball to foresee this (I wish), talk to an agent for a free market analysis.  Here is our link.  No mater what the market is, it doesn't hurt to find out.  We'll let you know if the time is right for you.

Here's to your health

As posted in Part 1, health can play a huge role in what you do.  It's the difference between a home, assisted living or a care facility.  If you are going to buy your own home consider it's size, number of levels and access.  While shopping for a new home keep these things things in mind. Remodeling before moving in is a great time to adjust for possible aging and health concerns.

Are my children financially fit?

Because of the recent economy, a lot of children are moving back home or may be there now.  This can put  a halt to your retirement needs, temporarily or permanently.  If there is a possibility of your children and their families moving back, and you intend to help them if that were to happen, have a contingency plan for your retirement dreams. Remember, Family Feud is a game show, not something you want to experience in real life.

Keep your home up to date

What seems to have been great over the last 40 years to you probably will not be great to someone in todays market.  Outdated homes generally sell for less.  So do homes that have not been maintained.  Don't put things off because you are moving.  Buyers will ask for repairs.  Some lenders will too in ordered for the buyers loan to be accepted .  Not doing repairs may cost you the sale, and a failed sale puts up a red flag to other buyers, which makes it tough to get people interested in your home.  As far as updates, consider spending some money to make money.  Your agent can give you insight to what should and what could be done to to help your home value.

Take, give and throw away

Do you have 40 years of treasures?  20?  5?  Even if it's a few years off, start organizing and cleaning now.  Decided what to keep, what to give to family and friends, what to donate and what needs to be thrown away.  Unsure?  Put it in a box and put that days date on it.  If you haven't opened it up in a year, toss it.

 

Is it your parents/grandparents moving...

 

Express your concerns and be empathetic. 

Don't push unless it's serious or a timing issue.

Support them through all aspects of the move.

Ask questions they may not ask, or may be afraid to ask, about the process, details, etc.

And most importantly, think of them, not you.

 

As an SRES, Seniors Real Estate Specialist, I have the training to meet your needs.  Our Team, including my wife Denise who has been a realtor for 24 years, are here to help.  We live by our motto: "Results with a Caring Touch".

Other experts to consult during the process are your mortgage office, accountant, financial planner and lawyer.  Don't have one of these?  Call us.  We have a large referral network.

Take care!

 

 

Tom Townsend, Broker, SRES

Denise Townsend Group

Keller Williams Sunset Corridor

1915 NW Amberglen Pkwy #250

Beaverton OR 97006

503-504-3961