Senior Real Estate: Should I Move or Should I Stay?

Wednesday Aug 30th, 2017


In my work as an Accredited Senior Agent (ASA), this is a common question that I hear: should I move or should I stay?

There is no easy answer to this question because:

1.    It is a personal decision based on many factors
2.    Everyone is unique
3.    There are no two identical clients
4.    What works for one person or family, likely will not for another

But, there are some things to consider to help you decide whether you should stay put in your current house or move to another home that’s better suited to your current lifestyle.

First and foremost, ask yourself: do you want to move or do you feel you have to move? There may be several factors that will influence which is true for you. Consider your:

•    Finances
•    Health and ability
•    Lifestyle and freedom
•    Choice versus circumstance

Then ask yourself: even if you could stay in your home, would you still want to? Consider the following questions:

•    Are you ‘over-housed’, meaning you use less than one-third of the space in the home?
•    Is cleaning and maintaining the home becoming a burden?
•    Is the house holding you back from achieving other goals or having future adventures?
•    Would a property that you could lock up and leave unattended for extended periods appeal more?

If you answered yes to the questions above, then it may be time to consider downsizing, either to a smaller home, like a townhouse or a condominium, or even one of the many retirement communities in Mississauga and the Greater Toronto Area (GTA). 

Working with an Accredited Senior Agent (ASA) is a great first step. Here are a few ways that I can help:

• Talk to you – Even by investing just one hour of your time, you will walk away knowing so much more about your options as it relates to your future move. 

• Provide clarity – If you are not sure if you should stay in your current home or move, I can provide you with questionnaires designed to help you discover the pros and cons of moving.

• Research for you – As an ASA, I can research and present all your available options for future housing – from active adult lifestyle and retirement communities to extended care facilities.

• Help you “age in place” – If remaining in your current home is of the utmost importance, I can help you “age in place” by recommending contractors who specialize in renovations to help seniors stay in their homes longer.

• Connect you with trusted financial experts – Understanding the financial implications of remaining in your home versus moving largely depends on your financial situation. I can put you in touch with financial advisors who can help you plan for your future, as it relates to your financial snapshot.

• Open the lines of communication with your family – One of the best ways an ASA can help you is by facilitating a conversation between yourself and your family, so they understand your wishes as it relates to your next move.

Don’t let circumstance rule the rest of your golden years. By considering your options now, you can have full control and choice as to how, when and where your next move will take you. 

To learn more about how an ASA can help you, please feel free to contact me to set-up an appointment to chat.

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