
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 The Home is Outdated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?
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..
This is the Answer to Q 2
Describe the item or answer the question so that site visitors who are interested get more information. You can emphasize this text with bullets, italics or bold, and add links.
Describe the item or answer the question so that site visitors who are interested get more information. You can emphasize this text with bullets, italics or bold, and add links.
The answer for Question 3
Describe the item or answer the question so that site visitors who are interested get more information. You can emphasize this text with bullets, italics or bold, and add links.