a smiling senior couple holding keys after downsizing their home

Are you planning to downsize your home?

April 18, 2023

Being proactive for downsizing your home puts you ahead of the game

Planning to downsize to a smaller home or independent living community is something that you might wat to start preparing for when you retire or the nest becomes empty. While you might not be ready to make that move now, getting your bearings on options will help you be ready well in advance.

a senior couple packing boxes for a move to downsize their home

If you already have a real estate agent, let them know what you’re planning. They can take a look at the home and let you know what you should do to get things ready. You can also talk with local independent living communities, start looking at 55+ neighborhoods or get an idea of what a smaller home might look like.

If you don’t have an agent, you might want to consider one with that is a Senior Real Estate Specialist, or an SRES agent. These agents are specifically qualified for these exact situations.

This is also where a Senior Placement Specialist can help. Senior Placement Specialists have unique knowledge on a vast amount of living solutions, financial options, healthcare and directive planning and much more. If you work with a senior placement specialist at Adore Mom, they’ll also have a vast vendor toolbox of resources to make sure you’re covered with options.

a senior couple carries moving boxes into their smaller home they downsized to

Downsizing to a smaller home

While you may not need a senior placement specialist for this, a SRES agent will be able to help you immensely here. They’ll know of neighborhoods with the smaller size of home you’ll be looking for.

If you’re a new empty nester, approaching retirement or have just retired, simply downsizing to a smaller, more manageable home might be the best option for you. You’ll get the benefits of a neighborhood like your current one, just a smaller home.

Do you have grandchildren? There will likely be neighbors with kids their age to make friends with.

Maybe you’re still able to maintain your house but you’d just like something smaller. Then this might be your ticket.

a smiling senior couple sitting out side their independent living community

Independent Living Communities and Facilities

An independent living community, also known as a 55+ community, is almost the same as downsizing to a smaller home with more benefits to those in the senior age group. You’ll maintain your independence but will have some amenities that will support and possibly enhance your lifestyle.

Many of these communities have their own social events, classes, fitness services, sports and recreation options, dining areas and so on. In many cases, you’ll find lower property taxes as well.

An independent living facility is more like an apartment with a closer-knit community within. It is often a thriving hub of social interaction, activities, events and services that cater to your independence while allowing you to not have to worry about as many chores.

Your Senior Placement Specialist can help you plan for what option might be best for you and your SRES agent will make sure the sale of your home goes as smoothly as possible to help ensure sure your transition is seamless.

a senior couple shakes hands with a financial planner

Prepare for your long-term care needs

While you’re planning, or in the process of, downsizing to a smaller home, this is also a great time to work with your senior placement specialist to put together a solid plan for your long-term financial and medical needs.

They’ll be able to help you understand what your legal options are for medical care when the time comes for additional services. Additionally, now would be a great time to put legal paperwork in place, such as a durable power of attorney.

Your Senior Placement Specialist and your SRES agent can also help you understand some of your financial options for planning ahead. An SRES agent will be able to help you with a reverse mortgage, if applicable. Senior Placement Specialists can help you understand how your pensions, retirement benefits and savings can be leveraged to your future care, and what pitfalls you might want to take steps to avoid.

Downsizing is a great opportunity to get into a more manageable living environment while at the same time getting yourself prepared for your future. The good news is that you don’t have to face this alone. There are people like our team at Adore Mom who love helping you with this very thing.