But I Don't Want to Move.... (Part 1)
(Eating An Elephant One Bite At A Time - Part 1)
If you’re a senior, particularly if you’re living your “golden years” (80+), you may be experiencing greater difficulty living at home alone. Sometimes this difficulty is hard to discern because it occurs so gradually. Even if you can’t feel it directly, changes in your daily routine may tell you something is off. Perhaps you’re drinking less water these days, so you won’t have to get up for the bathroom so often. Or maybe you’re losing weight because you haven’t gone to the grocery store, and aren’t cooking for yourself like you used to. Or perhaps, showering and bathing have become a chore, and it’s just easier to do it less frequently. If you aren’t noticing these things yourself, are your children or your doctor asking if you’re drinking water? If you’ve eaten? If you’ve bathed? If you “have help at home”?
Given a choice, most seniors would prefer to “age in place.” Many will be able to do this by adding a visiting nurse or home health aide to your daily routine, and modifying your home to accommodate increasing physical needs. For many seniors, happily, your current home will be your final home. But for others, this may not be an option, and you may be forced to consider alternatives such as assisted living, senior apartments, or congregate care facilities. Your doctors and/or children may also be encouraging you to make a change.
Seniors of all ages are faced with a unique set of issues to consider when selling their home: What are the tax ramifications of a particular type of move? How do you sell your home and protect the proceeds from Medicaid? How do you ensure the proceeds from the sale of the home are distributed effectively and swiftly to beneficiaries? These are important questions to have answered before you even talk with a real estate agent, or start packing.
The focus here is not to answer these specific questions in detail, but rather, to offer constructive information on how to get from “I think it’s time to move,” to hearing a Realtor say, “my clients would like to make an offer on your home.” It’s aimed at helping you (and your children if they are involved) understand the process of getting your financial affairs in order, readying your home to market, and then selling it and achieving the highest price possible. Chances are that you’ll need the money from the sale of your current home, to afford your next home.
This is the first in a series of posts offering information that you won't find in typical "how to sell your home" articles. If you'd like to read the whole, free guide at once, just click on "Download." And as always, please don't hesitate to contact me with any questions or visit my real estate site at Marbleheadhomes.net.