When is the right time to downsize and move?

Downsizing and selling the family home can be one of the most difficult processes older adults have to go through. Usually this decision is made when the senior no longer wants - or is unable - to maintain his current home. Sometimes the decision is related to failing health.  Sometimes it is a desire to simplify their lifestyle so they have more time to do other things. Sometimes they are feeling lonely and isolated and want to live in an environment with more social interaction.

A move will involve a change in living arrangements. They may choose to buy another home in an adult lifestyle community or in a condo apartment building.  They may decide to rent rather than own their next home.  They may want to move into a retirement or assisted living residence.   

It is better for seniors if they can make the decision to downsize and move while they are still healthy and have the time to plan their move and the energy to act on their decision. If they wait until they MUST move, they reduce the housing choices available to them.  They also face time pressures and are forced to make decisions under stress.    

For most seniors, the decision to downsize and move is made after a lengthy process of thinking and talking about the good and the challenging aspects of their current living arrangements.  Following are some questions that may help you evaluate your situation, needs and preferences. 
Answer the questions for yourself, and discuss them with your family and/or trusted friends.

• Does the house feel too big for me now? 
• Does it make sense to keep the house when I don’t use all the space in the house and yard?
• Am I still able to deal with the upkeep of the house and yard—and do I want to?
• Does it make sense to spend what it takes to upkeep this house, when I could live more simply somewhere else?
• Do I have family members, neighbours, friends to help me with chores, transportation and personal care when I need it?  Am I comfortable accepting this help?
• Do I feel secure in the house and neighbourhood?
• Do I feel isolated and wanting more social interaction?
• Do I need to have some level of services provided to me, like meals, housekeeping, social activities, transportation, daily living (eg medication, bathing, dressing)
• If I moved, what type of living quarters would I like to have? (apartment, small bungalow, seniors residence)
• Do I want to own my next home, or would I prefer to rent something and let other people deal with property management?
• What kind of services would it be important to have nearby (eg bus service, grocery store, doctor, church, bank, etc)
• Do I have family or friends who can help me with the downsizing and move?
• What are the good reasons to move?
• What are the reasons NOT to move?
• How do my family and trusted friends feel about me downsizing and moving?
• If I decide to stay in my home, what community & business services are available to help me?

If you are staying in your home because you don't have anyone to help you with the downsizing, there are very good companies who can work with you.  One of my services is to co-ordinate with other transition specialists to assist my clients who need help with downsizing and preparing their homes for sale. Don't hesitate to ask for help.  Call Emma (613-795-6891) for a no obligation consultation about your needs, plans and options. 

New Listing -1446 Raven Ave., Ottawa, ON

1446 Raven Ave. offers convenient one-floor living a single person or couple who want to minimize the need to use stairs. This 1.5 storey home has all principle rooms - kitchen, living/dining room, two bedrooms, full bathroom and laundry on the main floor.  Sunny and spacious (MUCH larger than it looks from the street), this older home is very nicely updated with bamboo flooring, a trendy bathroom, vinyl windows and patio door, lots of white cabinetry in the kitchen, nice deck with pergola and fenced/hedged private yard. The upper level loft offers an opportunity for an office, hobby area or 3rd bedroom.  The unfinished basement (part crawlspace) offers storage space.  OPEN HOUSE, SUN. MAY 6/12, 2-4 PM.

Baby Boomers Drive Real Estate Sales

It shouldn't come as a surprise to anyone that Gen-50plus is a major force in the Ottawa real estate market.  A recent Canada Mortgage and Housing Corp (CMHC) report about the 2011 Ottawa resale market notes that baby boomers looking to downsize accounted for mor than 40% of all condominium buyers in Ottawa in 2011. That number is expected to grow to 50% by 2016. CMHC says that more than 170,000 people in the capital region fall into the 55-74 age bracket, and many of this group will be downsizing in the coming years. 

The boomers are looking to move from their large homes on large lots. They don't want the work or cost involved in maintaining a space they no longer need.  They want to simplify their lives so they have more time to spend on activities that are more fun, rewarding and interesting than doing housework and mowing lawns. They also plan to travel or spend the winters down south, so want a home where they can lock the door and walk away, knowing their property is secure. Many boomers are also being drawn to the urban lifestyle of the downtown core or communities like Westboro and Wellington Village. Condos meet all these needs, which is why the condo market has become so desirable for downsizing boomers.

Making the decision to downsize often takes several months, or longer, and involves a lot of work to dispose of personal belongings that have accumlated over the years. Downsizing to a smaller home means that the overwhelming majority of belongings have to given away, sold or trashed because they can't be moved.  This can be a tedious chore.  It can also be emotional, as people are forced to give up items that may have strong sentimental value. In my work with the 50plus market, I've seen people who find the preparations to downsize very difficult because it's difficult to dispose of belongings that reflect a lifetime of memories.  This process is more challenging if the adults don't have any children around to help with the work.  That's why there are a growing number of private businesses starting up to work with seniors and boomers who need help with downsizing.   In addition to my real estate services,  I will coordinate with other downsizing specialists to help prepare my client's home for sale, if these additional services are required and requested by my client.

Is a move in your plans for 2012?  I work in the Ottawa area market and offer services to both sellers and buyers.  If you're ready to make that move, contact me to arrange a free consultation to talk about your real estate plans and how I can help.

For More Information:
CMHC 2011 Canadian Housing Outlook
CMHC Housing Market Outlook-Ottawa
Ottawa Citizen Report on the Ottawa Housing Market, Dec 29,2011