What to Consider When
You Are “Right-Sizing”

August 29, 2024

You may have seen one of my recent blogs regarding helping to sell my mom’s home of 58 years. We are almost there. She closes on September 4^th. Through this process, I realized how emotionally and physically draining it can be. I also realized that by explaining the process and expectations, I could really help her. I decided that although I will continue to work with all different types of sellers and buyers, I wanted to get more information to be able to help seniors. I am currently working on getting my Seniors Real Estate Specialist (SRES) designation through the National Association of Realtors.

If you know me, you know that I love learning and learning how to help seniors is no exception. I enjoy seeing different perspectives and things I may not have thought of before. For this blog, I wanted to offer some important considerations for those who are thinking about downsizing or upsizing as they continue on their life journey. One of my colleagues calls it “right-sizing”, which I think makes sense. Some people want less space, and others want more space for their children and grandchildren to come visit. It really depends on what their goals are.

Some would like to continue to own a single-family home in a 55+ community, while others would like to live in a condo or townhome, possibly in a retirement community or some variation of the two. There are many ways to make this work. The following is a list of things to keep in mind when you are figuring out your next steps.

»» Think about the purpose of moving and what goals need to be achieved. Are you wanting main floor living? Are you wanting to be closer to friends or family? Do you want less or more square footage?

»» Transportation is important. Will you have a car? If not, is public transportation close, or does the community offer some type of shuttle service?

»» Some people like to have activities to participate in within the community. Are community activities important to you? If so, does the community provide activities you are interested in?

»» As people get older, it is almost inevitable that they will need to be close to medical facilities and their doctors. Are your doctors within a reasonable distance? Is there a hospital nearby?

»» Fitness is good for your health. Is there a fitness center or close access to a fitness center, pool, yoga studio, track, walking paths, etc.?

»» Property maintenance can be a concern. Would you like to have your lawn, yard work, and snow shoveling taken care of as well as the exterior of your home?

»» Climate can make a big difference. Are you alright with extreme cold or hot? What about snow?

»» A home can be owned, there can be part ownership in a retirement community or even a lease within a retirement community. What are the pros and cons of each?

»» Some services may not be needed now, but they could be significant in the future. Is it important to have walkways wide enough for a wheelchair or walker? Are light switches accessible? Will you want to have the ability to have meals served within the community? What if you need more assistance in the future, a higher level of care?

My husband and I will “right-size” at some point. We are probably not going to do that anytime soon. When we make that decision, we will probably want to make sure that we can live were we move to for many years to come. Although I have thought of some of the points above, there are definitely some I didn’t think about until taking the SRES course. If you are in this transition phase or if you have a parent in this phase, I hope the list above helps you with researching.

Don’t forget that at TK Homes, we have the knowledge to help get you where you are going, no matter the age or stage! An important part of our business is to continue learning about the market, what is going on in real estate in general, and how to best assist our clients. Contact a TK Homes agent today, and let us help you make your real estate goals a reality!

~ Written by TK Homes REALTOR®, Mary Smith