When is it time for a baby boomer or aging senior to Downsize and Simplify their life?

When is it time for a baby boomer or aging senior to Downsize and Simplify their life?

In my experience, as a Senior Real Estate Specialist (SRES) in Southern New Jersey , most baby boomers and aging seniors do not know when it is time to downsize. An Exit Plan has never been a part of their overall plans! It's kind of like in Gone with the Wind , "I will worry about it tomorrow."

As a seminar presenter to the downsizing community, I always make sure I emphasize to the attendees that they must  have a well executed Exit Plan. It is way too risky to not have one!

 Better you should choose to make the move, under your own conditions rather than it being forced upon you. This could be due to health OR financial reasons or both. Don't be caught short!

So...  the questions that you, as a baby boomer, child of an aging senior or an aging senior yourself should be asking are:

•1.      When is it the right time to downsize and simplify?

•2.      Where would I move to- what are the housing options in my area?

•3.      Do I want to move closer to my children and/or grandchildren?

•4.      How will downsizing affect my current lifestyle?

•5.      How do I protect myself and my family financially?

•6.      Am I a working baby boomer or aging senior?

•7.      Are there health or physical issues that keep you or your parent(s) unable to manage the demands of the home?

•8.      What are the costs to maintain your home?

These are just a few questions to ask yourself to better determine when it is the right time to downsize and simplify.

Perhaps you are the child of an aging senior. What type of plans do they have in place to downsize? Do they know what housing options or retirment communities are available to them? For information where seniors are retiring to and different options available, visit www.retirementliving.com

What if you are a baby boomer? Do you know what types of options are available to you?

If you are a baby boomer living in New Jersey, you can also visit www.activeadultliving.com/NJ/newjersey.htm for active adult communities.

With the overwhelming number of baby boomers, 72 million to be exact, the housing market, as we push forward, will be flooded with your stereotypical, 4 bedroom, and 2.5 bath homes in the burbs. http://www.census.gov .

So ask yourself this question: Do I want to be ahead of that housing curve?

For more detailed information and resources in the South Jersey area on downsizing and simplifying, please visit my website at www.theupsidetodownsizing.com .