Downsizing As A Senior: Three Tips To Find Your Next Home

As a senior, you do not need as much space in your home as you once did. You may be tired of having to maintain a large home and its exterior landscaping. Downsizing to a smaller home can free up your lifestyle, leaving you more time to spend with family members and doing activities that you love. However, finding a home that is suitable for senior living is not always easy. Here are some tips to help you out along this path.

Work with a real estate specialist. 

Various real estate agents have different specialties. For your needs, you should look for somebody who specializes in senior real estate. This person will have more in-depth knowledge of the local senior living communities and of the features that seniors are looking for than your average real estate agent who generalizes. If you do not know a real estate agent personally, stop into a real estate office in your area and tell them what you are looking for. They can recommend a senior real estate specialist who will meet your needs.

Visit senior communities.

Even if you are pretty certain you want to live in a separate house and not in a senior community, it is a good idea to visit some of these spaces. You may find that senior living in one of these communities is not exactly what you thought it was. Or, you may simply discover some amenities that these communities use and that you want to look for in your own independent home. Bear in mind that not all senior living communities are collections of apartments. Some are simply neighborhoods of independent homes where each resident is required to be over a certain age. The homes are built to suit senior needs since they lack stairs, are small in size, and have wide hallways suitable for walkers and wheelchairs. 

Set a budget.

To start determining what your budget is, have a real estate agent come and look at the house you are in now. They should be able to give you an idea of its value and how much you will learn when you sell it. You will then have a better idea of how much you can afford to spend on your new home. If you have a lot of equity in your current home, then your goal may be to spend no more than that on your next house so that all of your monthly income can be spent on other things... not on a mortgage. Since you are downsizing, it is realistic to assume that the new home you buy will be worth less than the one you are living in now.

Once you've looked at senior communities, talked to a senior real estate agent, and set a budget you are ready to start looking at properties. Remember to enjoy this process. Your new home will be one that is better suited to your current needs as an older adult.