Considerations for finding your home for retirement

Older Americans can recall a time when gas stations provided full service, with window washers and gas attendants to pump your fuel.

They recall a time of service with a smile—and you don't find much of that in today's mobile-dominated environment, where text messages pass for conversation and e-signatures have replaced the ballpoint pen.

That's why service providers who understand the needs of the older generation are important to these consumers.

Atherton Real Estate Group agents have additional training to work with older clients. If we compare a real estate license to a bachelor's degree our senior program would be our major.

 We strive to have a deep understanding of wide array of topics that affect seniors such as reverse mortgages and the federal Housing for Older Persons Act (HOPA) as well as how Medicaid, Medicare and Social Security impact real estate decisions.

We seek create a customized approach to each situation: older homeowners planning life after retirement, transitioning from retirement with a companion to life alone or contemplating selling the family home.

We like to be the center of a network of specialists like estate planners, elder-care attorneys and CPAs who can offer guidance to seniors deciding how best to manage this stage in their life.

Those age 50 and older will represent 45% of the U.S. population next year, according to AARP. That demographic shift means the real estate industry must adapt to the needs of those who intend to remain in their homes as they age and those who want other options.

This demographic shift will impact the economy overall and housing in particular. 

During this phase of life, real estate should be handled with a holistic approach. Senior clients often come with other generations of family members to consider. At Atherton Real Estate we are trained to navigate the delicate dynamic of adult children caring for aging parents, for instance, while also allowing the elder parent to maintain their dignity.

If you are over age 60 and considering a new home purchase, selling your family residence, or transitioning into a care-based facility, here are a few ways we can help: 

• For seniors opting to age in place can refer a specialist who can evaluate your home, discuss problem areas and suggest home modifications. The aging-in-place remodeling market is valued at about $25 billion annually, according to the National Association of Home Builders. Having someone to help you navigate appropriate repairs could save you time and money.

• We may be able to direct you to community, government and private programs designed to provide additional financial assistance. Many seniors may qualify for programs that can help them save money, but they do not apply because they don't know the program exists. We look to point you in the right direction.

• We can refer you to a local senior care manager, senior groups and agencies within the community that provide in-home assisted living services.

• We can help guide you to a reverse mortgage counselor/lender to discuss the pros and cons of this financial tool.

• We can refer clients to de-clutter specialists to prepare the home prior to listing. They can also refer to tax specialists who can prepare the estate prior to selling.

• We offer all of these add on services as part and parcel of our senior package but our core skill set is still selling your home.

We offer a few very unique real estate solutions….

Option 1: We like to call “leave the dishes in the sink”

We will buy your home ourselves, you gather all your personal items and literally leave everything else. We will work together on a fair price and can close in as little as 3 weeks. This is the easiest, cleanest solution and usually an option chosen when we are dealing with the grown children (who are overseeing the sale) live out of state and aren’t in a position to manage selling mom and dad’s home.

Option 2: “Hands off Sale”

We will coordinate all aspects of selling your home from start to finish, we act as a project coordinator from start to finish…we will coordinate and oversee the home decluttering, coordinate needed repairs and preparing/staging the home for sale to achieve highest possible selling price.

Option 3: “Ready to Sell”

This is well suited for the owners who are capable to coordinate all the above items and this is more of a traditional real estate transaction.

All of these options are completely customizable to suit your particular needs.

Senior’s Guide to Moving: Steps to Take to Simplify the Process

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You’ve decided now is the time to move. Perhaps you need to downsize your home, increase your accessibility, or you’d prefer to be closer to family. It could even be that you can’t bear the thought of living next to your nosy neighbor for even one more second. Whatever the reason may be, moving can get a little overwhelming if you aren’t sure what steps to take. Use the tips in this guide to get you settled into your new home as quickly and as seamlessly as possible

Before You Move

The last thing you want is to buy the house of your dreams and then realize you can’t actually afford to live in it. In order to stay within your budget, you’ll need to look at your income, the amount you’ve set aside for a down payment, and your monthly expenses like car loans. Input these figures, along with the location where you want to live, into an online home affordability calculator, and you’ll get an approximate amount. Then have an experienced realtor walk you through the particulars of your local real estate market.

To avoid finding the perfect home but not being able to fit all of your belongings inside, use this opportunity to do a little bit of decluttering. It’s mind-boggling how much stuff you’ve collected over a lifetime, and odds are most of it holds some sort of sentimental value. Although the process might be bittersweet, go into the process with the right mindset, keeping your ultimate goal in mind – your new home. You might find it helpful to keep these four questions in mind as you work your way around your home:

·      Do I need it/want it?

·      Does it have sentimental value?

·      How often do I use it?

·      Do I have a similar item?

The key to avoiding that overwhelming feeling is to break up the project into baby steps. Set a goal for a particular area that you can complete in a reasonable amount of time. Setting small goals will give you a sense of achievement, and will help you to see that there is some sort of method to the madness. 

The hardest part will be deciding what to keep and what to part with. If you find that there are some items you can’t bear to give up, but they won’t fit in your new home, rehome them by gifting them to family members or friends. Consider donating them to a cause that is close to your heart, or ask a family member to help you create a scrapbook with pictures of your treasured items and a description of the attached memories.

Home Mods

About 3 percent of America’s senior population live in nursing homes, but many could be living at home if they had the right support system such as a home that is easy and safe for them to maneuver. As a senior who is moving into a new home, it’s likely that you plan to stay there as long as your health and mobility allow, so you should purchase a home with this age-in-place mentality in mind. While you should be comfortable in your home, aging in place is about avoiding falls and injuries. As we age, our balance declines, arthritis reduces our range of motion, vision deteriorates, and we just aren’t as flexible and nimble as we once were. Add weakened bones to the mix, and what once would have been a minor stumble could turn into a fractured hip.

The biggest area of focus should be the bathroom. Does your new home have a bathroom located on the first floor? If not, the price compared to installing an elevator or lift could make it the most economical option. Plus, a first-floor location offers convenience and instant access. Make sure doorways are at least 32 inches wide to accommodate walkers, wheelchairs, or power scooters. Grab bars should be installed in the shower/bathtub, near the toilet, and any other area where extra support could be beneficial. 

After assessing the bathroom, go room by room and address all areas of concern. The house in general should be well lit with non-slip floors, but don’t forget about the exterior. Those four steps to the front door could eventually become quite a task, especially for those in a wheelchair, so consider installing a ramp.

If you are considering a move, take the proper steps to reduce as much stress as possible. Declutter and plan the layout of your new home in advance, and make sure home modifications can be easily made for added safety, mobility, and convenience. You want to stay in your home as long as possible, so don’t forget to buy with that mind!

When you’re ready to start looking for a new house, get in touch with Atherton Real Estate Group, LLC. You can contact us by filling out the contact form on our website or calling us directly at 603-305-6073.