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| Seniors, boomers 'right-sizing'
their homes |
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Tips for moving:
Destination unknown? Selling
the house should take a back seat to detailed arrangements for a
new home. Some real estate agents can help customize a sale to allow
a homeowner to remain in the current home until the new one is ready
or space is available in a senior community.
Streamline, streamline: A
senior move should serve to improve and streamline lifestyle,
not restrict it.
Agent assurance: Be wary
of sales agendas. Some who call themselves senior specialists
really represent one or more retirement facilities or communities.
A licensed buyer's agent owes fiduciary responsibility and loyalty
to the home buyer and may give a a senior more peace of mind.
Study your options: Don't
buy into the old retirement-home mentality until you look at other
options. Several new senior-housing specialties are now available,
ranging from independent-living communities, to senior apartments,
to varying degrees of assisted care.
Location: As eyesight
and health wane, mobility may, too. Doctors' offices, a hospital,
places of worship, shopping centers, restaurants and drug stores
should be close to the new residence. Also, consider that traffic
noise and airport noise can make for sleepless nights for older
people.
Custom safety/convenience
features: If moving to a conventional residence, look for
single-floor layout, a step-less entry, non-slip floor surfaces,
grab bars in bathroom and levered door handles, says the AARP.
Just how vast is senior buying clout? Age Wave Impact
research estimates that 77 percent of the financial assets held
in the U.S. are by people over the age of 55. In fact, every day
the 50-plus population grows by another 10,000, it says.
Field has met with many seniors who have lived in
their homes 50 years or more and don't realize their value, sometimes
subjecting them to predatory buyers. "They bought them for $10,000
and they're now worth $400,000," Field said "You tell them that
after they have been approached by someone else, and they'll say
"Are you nuts?"
Boomers say bye-bye
Despite the complexities of the home-selling process, the more transient
baby boom generation seem more intent on relocation when it reaches
retirement.
Nearly 6 out of 10 boomers ages 44 to 56 say they
plan to relocate upon or soon after retirement, according to a 2003
survey of 1,361 respondents conducted by Del Webb, a developer of
active-adult communities. That's nearly double the 31 percent who
said in a similar 1999 survey that they planned to move following
retirement. Preferred destinations in the 2003 poll were Florida
(21 percent), Arizona (18 percent), South Carolina (10 percent)
, North Carolina (10 percent) and Tennessee (9 percent).
For seniors considering a new neighborhood, safety
stands as the top consideration, according to the AARP. Almost nine
out of 10 seniors polled in a 2003 AARP survey said having a full
bathroom and a bedroom on the main floor are important. Three quarters
wanted a covered garage or parking. Repositioned outlets and switches,
and personal alert systems to call for help are also important,
respondents said.
But other studies show that most older seniors really
don't want to move for fear of a loss of independence, Fields said.
However, on follow-up visits with seniors, "They almost always say
their only regret is they didn't do it sooner," he said.
Fields advises seniors that they should make the decision
to move while they're capable. "If a relative or social worker has
to make it for you and you don't like it, they'll tell you that's
too darn bad."
To aid continuity in a move, AARP's Redfoot suggests
taking meaningful items from the old family home such as awards,
trophies and memorabilia, then creating a small display case at
the new home that will not only jog their loved ones' memories,
but will serve as conversations pieces.
Factors such as encroaching traffic, constant noise,
a too-big yard or deteriorating neighborhood may contribute to a
senior's decision to relocate. "But most seniors who are moving
are doing so because it associated with the loss of a spouse or
a related loss of income," Redfoot said.
"You are usually dealing with several different issues
simultaneously. So it's far more than just a real estate transaction.
It's the move of a lifetime."
Steve McLinden is a freelance writer
based in Texas
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