Selling your home in order to afford senior living and care is not an easy process. There will be emotionally charged considerations such as financial matters, personal choices, loved ones and caregivers and changes in one’s “independent status” and letting go. If you’re a senior or know someone who is about to make real estate decisions, this article will help you think about navigating the process.

• Financial factors
• Speak with financial or accounting professionals about your resources and estate tax advantages particular solutions may carry. 
• Know the cost of modifications to your existing residence, should you wish to renovate rather than sell. The logic:  Use what you already have, if structural changes are reasonable and affordable.  The goal: renovate without major spending.
• Know your baseline health benefits coverages for home based living versus facility based living?  This is a “must know”  before urgency prevails. Consumer advocacy groups can help you understand your resources.

• The Real Estate Transaction Process

• Use credentialed and highly skilled professionals to understand your needs, time frames, legacy desires and resource “burn rate”.
• Once a senior has decided to sell their home, never underprice your home for a quick sale. An experienced real estate professional should do a comprehensive Comparative Market Analysis to avoid over or underpricing the home. 
• Your home is your investment. Price it right with less hassle.

• Marketing

• Marketing homes these days are easier, thanks to technology. Your real estate professional must stage the home appealingly, take beautiful pictures both interior and exterior to make it 5 times more attractive to buyers. 
• MLS, flyers, e-flyers, open houses – these marketing strategies will surely make buyers and agents alike know that your house is available in the market.

• Home Improvements

• Whether choosing to “age in place” with appropriate accommodations or doing repairs or upgrades to prepare for a sale, these scenarios can be modeled to provide clarity.
• Non-critical or design upgrades may or may not be worth your investment of time, energy and money.   The returns from such investment  may not meet your acute or urgent  needs.  Identify early who will help you “filter” essential versus nonessential recommendations.

• Family / Caregivers / Loved Ones (If applicable)

• Adult children, other family members or loved ones sometimes help their senior elders decide if moving is the best option.It is always a good idea to have a discussion together and talk about the decision to move. Avoid misunderstandings and always have your best interests prevail. 

• Managing Emotions

• Your relationship with your property is filled with “emotional intelligence”.  It’s more than just a house.  It’s been your home, your “ living place”  Feelings are filtered through this lens. The sadness of letting go of your home which you have so much emotional attachment to is very normal and a way to relieve it is by acknowledging and prioritizing your needs as a senior elder.
• A lens by which you determine feelings. What quality of living ahead is impacted by your thoughts today.

Let us help you find enlightened, skillful, empathic real estate professionals to help you manage the complexities discussed in this essay.  Dr. Reis can understand your complexities, help you express your needs and concerns, help you team build with your LOCO’s, and help you find capable local talent to comprehensively and competently address your complexities. 

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