Should I Stay or Should I Go?

By
Real Estate Agent with Marta Beckett Homes



As a Real Estate agent my job is to figure out my clients motivation for moving.  Some seniors realize right away that for this time in their life it is best to downsize or move into a retirement home.  Others I will make it my priority to show them all them of the options they have. Many seniors come to the time in their life when staying in their current home is no longer a safe or wise choice.  The decision must be made whether to stay in the current home or move. 

Seniors have to move for a variety of reasons.  It may be because the stairs have become too difficult, snowplowing and yard work has become an impossible task or might be that the home is just too big, the general upkeep and maintenance requirements of the home is overwhelming.

Other reasons are that home upkeep costs and or ever increasing taxes are a financial burden.  Usually, there is no choice but to move when a person’s health declines to a certain level.

Other factors are transportation and security issues.  The existing home may be too far from their regular visits to the doctor.   And some seniors can feel very vulnerable, when alone or when the security aspect of their home is compromised.

 A move can be very uplifting. It is very common for seniors to be lonely after their spouse has died. Moving into a retirement home allows companionship, friends and social activities. A senior in today’s market will find housing prices low and interest rate low all important trends to consider when downsizing. 

So what are the main reason seniors don’t want to move? Fear of the unknown, fear that they will have to leave there pets, fear that someone else will be making all of their decisions and I will have no more independence, fear of having to rely on others to do what they used to do for themselves.  As a realtor, my job its to consult and give my clients the best suggestions for their situation to find their motivation and to do what is best for them whether it involves moving right away or not. Information provided by Marta Beckett, Realtor with Keller Williams Realty, http://www.martabecketthomes.com.

 

Comments (1)

BILL CHERRY
Bill Cherry, Realtor - Dallas, TX
Broker & Wealth Coach

Good post, Miss Marta!  I worry about seniors, too.  I went through the issues with my mom after my dad passed away.  And now I'm a senior, although far from needing or being ready to change the status quo.

I will add that in Texas, perhaps other states as well, those over 65 -- as long as it is one of the owners -- can elect to let property taxes accrue.  There is no penalty; simple interest accrues at 8%.  The taxes are collected when the house is sold. 

And secondly, I am rabidly against almost every reason a person can think of as to why they should apply for and get a reverse mortgage.  More often than not, in my experience, reverse mortgages bring more evil than they do good.

Feb 09, 2013 10:23 AM

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