Is your senior loved one planning to downsize and move into a smaller house? If you are their primary caregiver, you should plan to be involved in every step of the process. House hunting is especially stressful for seniors who rely on others for support, and they will definitely appreciate your assistance. Here’s how to help your loved one find an accessible home that suits their budget and save money on moving costs, presented by real estate advisor Shannon Denise.
RESEARCH AND PLANNING
First, have a conversation with your loved one about how they plan to pay for their new home, and start mapping out their budget. Depending on their financial situation, they have a few different options. According to Discover, they could consider either buying their new home with equity from their previous home, or they could apply for a new mortgage.
Before you begin helping your loved one connect with a real estate advisor such as Shannon Denise and schedule house tours, you’ll also need to research homes in the area that fall within their price range. Find out the average costs of homes in their preferred city, and see how properties that check all their boxes stack up. Don’t forget that your loved one may have to cover additional fees along with their down payment.
As you schedule tours for different homes, you may also want to see how your loved one feels about potentially moving into a senior living community. Even seniors who do not need much assistance with day-to-day tasks sometimes prefer independent living communities, where they can take advantage of the variety of servicesprovided and enjoy the company of other people their age.
Whether your loved one wants to move into an established senior community or simply find a smaller home in a safe neighborhood, they should look for certain features before deciding on their future house. Ideally, they will be able to move into a home with hardwood flooring, a covered entryway to protect them from bad weather, and a large bathroom that will be easy to maneuver in, especially if they require a mobility aid.
If accessible homes in your loved one’s desired neighborhood are well out of their price range, encourage them to choose a house that will be easy to modify instead. They can also look into purchasing a property “as-is,” which will help keep the price down but could involve some repair work (roof problems, structural issues, etc.). You could then complete basic renovation projects on your own, which will help save money.
PREPARE FOR MOVING DAY
Your loved one will likely need lots of assistance from you as they get ready for moving day. You will need to help them declutter their current home, decide what they want to keep and give away, and pack up their belongings in organized boxes. Consumer Affairs recommends packing up one room at a time and giving each box a label so that you know where everything is.
It’s easy to spend a lot of money on boxes and other moving supplies. If you have anything you could donate to your loved one, offer them supplies so that they can reduce their moving budget. But their largest expense will undoubtedly be movers. If you or another one of your relatives has a large truck to transport their belongings, use this to your advantage so that they can avoid the cost of movers entirely. Otherwise, call several different companies in your area to get price quotes before making a final decision. Keep in mind that for a local move, it typically costs $25 per hour per mover.
As a caregiver, you always want to ensure that your senior loved one feels safe and comfortable. They will need your guidance throughout the house-hunting process, and by learning about the ins and outs of house hunting for seniors in advance, you will be well prepared to help them take care of everything from researching home prices to packing up for moving day.
Shannon Denise uses her knowledge as a certified Senior Real Estate Specialist (SRES®) and her unwavering dedication to help people buy and sell homes. Call her today at 604-763-5192.
*If you have enjoyed Mary’s post and would like to check out her website for more seniors’ tips please go to seniorsmeet.org she has some wonderful thorough information there!*
Please contact me with any questions regarding your loved ones potential move or any other real estate questions or concerns!~ Shannon Denise
Photo via Pexels