28 Reasons Seniors Sell Their Home

David Halpern, Real Estate Broker and Seniors Real Estate Specialist (SRES) has helped and advised hundreds of sellers and buyers, including many seniors. Through David's vast personal experience, he has compiled the following list of 28 reasons seniors sell their home.

28 Reasons Seniors Sell Their Home

Dave Halpern, Real Estate Broker and Seniors Real Estate Specialist (SRES) has helped and advised hundreds of sellers and buyers, including many seniors. Through Dave's vast personal experience, he has compiled the following list of 28 reasons seniors sell their home.

1. Medical / Health

2. Diminishing Physical Strength and Stamina

3. Home maintenance

4. Safety

5. Financial Reasons for Selling a Senior’s Home

6. Emotional Reasons for a Senior To Sell a Home

7. Time

8. House too big

9. House too small

10. Stress

11. Moving to enable easier personal care

12. Loneliness

13. Family proximity

14. Social Isolation

15. Move to retirement community

16. Move to modern home

17. Quality of Life / Self Esteem

18. Move in with adult children

19. Adult children move in to the senior's home

20. Move to dream location

21. Flexibility where to live

22. More family time

23. Declutter opportunity

24. The Home Needs Too Much Rehab

25. The Home is Outdated

26. Estate Planning

27. Medicaid Planning

28. Unable to drive

Need to Sell, Buy or Refinance?

1. Health / Medical

The need for assistance in activities of daily living often requires the home to be remodeled to enable safe and comfortable aging in place.

Some houses are not conducive to aging in place, or the remodeling would be too complicated and cost-prohibitive. Therefore, sometimes it's best to sell and purchase a home that already is conducive to aging in place.

Upkeep on the house becoming dangerous due to health problems.

Upkeep on the house may be too tiring, causing neglect of the home maintenance.

Medical and health problems often require assistive devices and home modifications. Sometimes modifications are not feasible or are too costly for out-of-pocket expenditure, and selling the home and buying a more suitable home is advisable.

As people age, they often find it difficult to climb stairs. If they live on two levels, they may begin to see stairs as barriers that prevent them from enjoying the full use of their home. If the laundry room is in the basement it becomes a frequent falling and injury risk to go up and down stairs, especially with loads of laundry and supplies.

Steep driveways and steep lawns make routine activities such as setting out the garbage or mowing the grass a high-risk endeavor. Sometimes the reality requires selling the house and moving to a home with a safer floorplan, or to an assisted living community.

A home that may have been a dream home when bought years ago may become full of hazards today.

If a senior has mobility problems, selling and downsizing give an opportunity to choose a home with easier accessibility. That enables the senior to age in place longer rather than moving to an assisted-living facility.

 However, fatigue, arthritis, memory loss, poor medication management, balance problems, cognitive decline, and other health problems can outweigh the natural preference to continue living in the familiar home..

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2. Diminishing Physical Strength and Stamina

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