What Seniors Should Know About Downsizing and Selling A Home

What Seniors Should Know About Downsizing and Selling A Home

For many seniors, there will come a time when they need to consider downsizing from their three- or four-bedroom single family home to a smaller apartment or studio in a retirement community.

Few, if any, home transitions occur without changing the volume of personal possessions and assets. While the process of downsizing can cause potential sellers a lot of stress, especially if they are seniors with restricted mobility, there are many options available to help families and seniors with moving and downsizing.

Moving to a larger house typically triggers an increase in personal property while moving to a smaller one typically generates a decrease. Increasing the quantity of personal possessions is fairly simple and “shopping” is the usual solution. Though downsizing, or decreasing property, can be a bit more challenging, today there are many options for reducing the volume of one’s tangible assets.

Families may opt for the following:

  • Garage sale
  • Tag sale
  • Estate sale
  • Auction
  • Online auction
  • Whole house liquidation
  • Junk removal
  • Charitable donation
  • Gifts or inheritances

While exploring these options may seem overwhelming, many seniors are unaware that organizations exist to help coordinate the downsizing and moving process. Senior Move Management companies can help as they work directly with families to evaluate their goals when downsizing and decluttering.

When considering a Senior Move Management company, it is critical to hire the most vetted and qualified resources who understand and are sensitive to sentimental attachments, schedules, and budgets. There are a number of liquidation options, but one that may be right for one family may not work for another depending on the value of inventory to be sold, personal timetables, a pending home sale, or any number of other factors.

In addition, the liquidation industry is not well regulated, so families need to be careful about hiring unreliable resources. Those who don’t understand the financial nuances of the business may fall victim to thieves and scam artists.

If you are thinking about a downsizing project or selling your home, consider working with professionals who have experience in both real estate and move management. With their expertise, you can be confident that they will find the best option for your transition. Many Senior Move Managers also work with a network of senior care resources that they can refer you to, whether a senior is in need of assisted living, independent living, or an ageing-in-place retirement home.

When you decide to make a move and downsize your possessions, know that you don’t have to do it alone. There are knowledgeable and passionate experts who can help you every step of the way.

About the Author:

Cari Drolet is the Founder and CEO of Lotus Realty Group. Cari works alongside her partner Dawn Lesicko of Caring Transitions Carlsbad & La Jolla to assist seniors and families with downsizing and moving projects. Together they handle every aspect of the move and provide professional assistance to get the job done. To learn more, go to lotusrealtygroup.com or call (858)444-5586.

Lotus Realty: https://www.lotusrealtygroup.com/
Caring Transitions: https://www.caringtransitions.com/locations/carlsbad