Downsizing Options – Finding The “Right Fit”
Downsizing options for seniors is about finding the right home to meet your current needs. So how do you see your life playing out in the next 10 years? You’ll want to match your health, mental, social, physical and financial needs to your next home and community. When successful, downsizing will help you lead a more fulfilling life experience. Fully understanding your downsizing options will require time and effort but should be well worth it in the end.
So whether you’ve decided to scale things back a little bit or ramp things up, you’ll need to discover what’s right for you. So if you’re considering a serious lifestyle change or simply downsizing to a smaller home, you’ve got a lot to think about. It’s important to know and understand your downsizing options. Knowing the options will help you make a better decision and facilitate a smoother transition into this exciting phase of your life.
Downsizing Option 1 – A Smaller Home
Downsizing Options
Many older adults reaching retirement have built up a considerable amount of home equity. This is especially true if they have been living in the same home for at least the last 10 or 12 years. If this is the case, then looking to re-allocate home equity could be an advantageous strategy. Often the equity in ones primary residence becomes a big part of a long term health care plan.
As you look into your downsizing options it’s important to first discover the realistic market value for your real estate holdings. With our help we can help you determine the value of your property. Then we can prepare a net analysis based on realistic projections to give you a good idea of how much net equity you would have to work with.
Once you have realistic numbers to work we can then help you explore what’s available. We then can help you determine how to allocate your funds in the best way possible. We do this by working in conjunction with the professionals in your financial network. When all of your preferred professionals are working together for your benefit, you win!
Downsizing Option 2 – Monthly Rental Age Restricted
The next downsizing option is month to month age restricted rental apartments. These properties have a wide range of amenities and services offered. If you are considering this option you will most likely need to be in good condition both physically and mentally. Realistically you’ll be living on your own, just in a more secure and safe environment. Some properties will offer services such as meal preparation, cleaning and laundry service etc. Some have indoor heated pools, exercise facilities, transportation and more. If your considering monthly rental communities as one of your downsizing options, make sure you visit them all. Choosing the right one may require multiple visits and lots of conversations with the sales staff.
In Conclusion
As Senior Real Estate Specialists and Charleston Senior Living Options Experts, we know your options! Obviously, everyones time is important. What we do is shorten your learning curve and help you discover the right downsizing option.
Since we know our community, we can show you the best downsizing options that fit your needs. Just simply reach out to us and we will be happy to discuss your current situation and goals. Then together we will come up with a plan to explore your downsizing options in Charleston. Also…while you’re doing your research check out more Senior Living, Lifestyle Options like Aging In Place, Retirement Communities and Care Homes too!
Your Charleston Downsizing Team
Bill and Millie Byrd are your Charleston Senior Living Experts! As Senior Real Estate Specialists Bill & Millie have been serving the Senior Real Estate Market for many years. “Let us guide your through the process of finding the right fit for your next chapter in life”. “Whether you need help selling the family home or simply finding that next home, or both, we are here to help”! Contact Bill & Millie at 843-972-7670
