As many seniors approach their golden years the topic of Downsizing is often the one that is the most difficult to deal with and often a stressful time for all parties involved. As a Huntington Beach Realtor who helps a lot of downsizing seniors with this process, in this post I offer tips and advice for downsizing seniors in Huntington Beach and What Every Huntington Beach Senior Must Know Before Downsizing.
What’s your Why?
Are you considering downsizing for the right reasons? What’s the reason for wanting to downsize? Is it because the house is too much to maintain or is it because the home isn’t outfitted properly or maybe you can just no longer afford it?
The reason I bring up this question is that all too often Seniors are only looking to sell because their house no longer has the functionality that they now require and think that selling is the only option when in fact it could be as simple as having a Senior Specialist come in and help them discuss their options to outfit their current residence.
The other option for Huntington Beach Seniors who may be selling due to affordability is the option to consider a Reverse Mortgage. This option could allow you to keep your home and have the bank pay you on a monthly basis using your equity in the home.
Once you decide that the home that you currently live in will no longer work for your needs or is just too much to maintain then it’s time to consider leasing or selling the home. In my experience, most seniors don’t want to be landlords but that is a question that needs to be addressed depending on the long term goals of each individual involved.
Depending on how long the home has been owned and how much equity has been gained during the time of ownership there could be a potential for significant tax consequences by selling the home so make sure that you are speaking with a professional Huntington Beach Realtor as well as a tax person that has your best interests in mind and isn’t telling you that Selling is your only option.
What do I do with all of my Stuff?
If you’re like most Seniors then you will likely be moving in a smaller space than you have lived the majority of your life so what will you do with all of the stuff you have accumulated over the years? This is often the one of the biggest concerns for those opting for a smaller living space.
In our experience, we have found it helpful to get Family and Friends involved to help during this process. While there can be a sentimental attachment to a lot of what you have accumulated over a lifetime there also has to be a realistic expectation set that with a downsize in home also comes a downsize in stuff.
If you are like a lot of Huntington Beach Seniors, you have a will or trust set up that will dictate who receives certain items. While that is a great way to protect your decisions, the downsizing process can be a good time to start this process by giving items those items those family members now so you can watch them enjoy them instead of waiting for a time where you might not be able to see them enjoyed. If you are coming across items that you will not need in your new home or feel have no value in being passed along then these are likely items that can be donated or sold.
Luckily there are companies out there that specialize in helping Huntington Beach Seniors with Estate Sales to help simplify what can sometimes be a stressful situation. We have found that planning really helps alleviate any potential stress that can come from sudden unexpected changes like downsizing or seniors changing their daily routine.
How will I decide where to go once I sell?
What are your future needs? As Seniors age there are often certain things required or that will be needed as they approach their golden years. This could range from certain doctors to pharmacies to the local Senior center where they will be spending their free time. These are all things to consider along with proximity to family, grand-kids and friends.
While downsizing your Huntington Beach home may alleviate stress in one area of your life you don’t want to replace it with the headache of messing up your daily routine.
Work With The Right Huntington Beach Realtor To Help You Downsize Today
Huntington Beach features a competitive Real Estate market, which means that Seniors need to work with not only someone they can trust but also understands their needs. If are considering downsizing your Huntington Beach home and need a Huntington Beach Realtor who understands the needs of Seniors and has a strong understanding of the local Real Estate market. Begin your Real Estate journey today by contacting Jeb Smith, your professional Real Estate guide for Huntington Beach, California.