The kids are living their own lives and you are ready to make a move. So what should you look for in terms of relocation and universal design? Many in this situation are looking for a smaller house where they hope to live their years. They are ready to move on to a simpler life. Maintaining independence, feeling secure, and simple property maintenance are the top three points for boomers when making this type of transition.
Even amid the uncertainty in the housing markets, young retirees continue to plan downsizing. The Center for Retirement Research at Boston College published a study last year that found that older people who included moving into their retirement plan were happier than those who didn’t. It was reported that people who changed accommodation by making a short distance move while staying close to family and friends were the happiest.
There is a difference between downsizing and trading down. Boomers interested in downsizing still want luxury, but in a small footprint. They demand prime locations near recreational and cultural attractions.
While most boomers can’t afford and wouldn’t want a Boston Back Bay rig, early retirees are prepared to invest in features that could cost more upfront to make their lives more comfortable and affordable in the long run. The reasoning behind this is that older people who are downsizing anticipate that they will stay in their reduced excavations longer than their current home.
Movement managers are now used for most high-level downsizing projects. A moving manager can help sort out the details and develop an action plan. They can help you decide what to keep, donate, give away, and throw away. Moving managers can help with a home listing by securing new furniture or advising on how to reuse existing furniture. They are the agent and advocate for the clients. They eliminate the “fear factor” associated with moving. They will make the moving project look easy. Additionally, experienced moving managers can provide these services at minimal cost for clients who get the job done right the first time.
Boomers who invest in new long-term properties seek easy access to transit, healthcare, and recreation. High speed internet access, security systems and energy efficient / green appliances such as solar water heaters.
Going green comes with an upfront cost even with the tax breaks available, but ensures lower utility bills later when the buyer’s income is more limited. And while it’s true that shopping in premium areas can cost a penny, it could help boomers stay more independent later on when they don’t want to drive.
Universal design elements are other investments that seniors are considering that will allow them to age more gracefully instead. These changes don’t have to be expensive. They would include modifying thresholds, widening doors, installing lever handles on doors, adjustable closet shelves, improved lighting, and pull-down kitchen cabinet drawers.
When you move out of state or into another community, spend some time researching the taxes you pay. It is important to look not only at rates, but also at special provisions that exempt part or all of a pension or retirement income. In some cases, property taxes can be a bigger problem than income taxes, so it’s important to understand real estate taxes and family breaks available to seniors.
Finally, after downsizing for most, there is less clutter, fewer possessions, cost-saving benefits, with a sense of balance and harmony.
