Retirement may close some chapters, but it’s also filled with exciting beginnings that might benefit from the expertise of a trusted real estate agent.
Housing options for older Americans
Housing options for aging Americans have come a long way. Here are some of today’s most popular living arrangements for older adults.
Aging in place
“Aging in place” means staying put rather than making a move. Many homeowners upgrade or modify their home as they age to better suit their needs and accommodate mobility aids.
Downsize to a smaller home
Many empty nesters downsize to cut out unnecessary expenses or have less house to maintain. Finding the right home can be the perfect start to your client’s golden years.
Lease an apartment or single-family home
Temporary housing works for any stage of your life – especially if you’re experiencing big change. Leasing can cut down on maintenance responsibilities or provide a solution for clients making big renovations.
55+ retirement communities
These communities look and feel like any other neighborhood. The difference is inclusive conveniences, like little maintenance, single-story plans, wider entryways, and shared amenities, like a pool or gym. Purchase and leasing options are available, so it’s helpful to take tours and do your research.
Multigenerational living
Merging households can lift the financial burden of owning and maintaining a whole other home. A family may want to buy a larger home with more square footage to live comfortably, or make modifications and upgrades to their liking.
Helping seniors plan and prepare
Here are some ways real estate agents can help mature adults make informed real estate decisions.
Continue your education
The Seniors Real Estate Specialist (SRES) offers online and in-person courses that cover topics that affect the senior community.
Help your client develop a plan of action
Consult with your client about their long-term goals and immediate needs.
Be a source of information
Familiarize yourself with local resources, like State Units on Aging (SUAs) and the best local vendors.
Conclusion
Retirement looks different for everyone, so it’s a good idea to be prepared for anything.
Want to increase your knowledge and stay on top of market trends? Check out the Rocket ProSM Insight Learning Center.
