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How to Evaluate Downsizing for a Loved One

Don Pelletier

With over 36 years as a professional Realtor, and the 2,200 San Diego home sellers and buyers Don has represented, he has a long-standing tradition an...

With over 36 years as a professional Realtor, and the 2,200 San Diego home sellers and buyers Don has represented, he has a long-standing tradition an...

Apr 27 3 minutes read

How to Evaluate and process the essential needs for downsizing for your loved one? How do you make this process easier for everyone involved? This can be very difficult and can be a very stressful decision. We understand and are here to help. Here are some tips to make it easier for you! 

The first step is to have an honest conversation about why downsizing is a necessary next step for your loved one. Make a list of the pros and cons of downsizing and what the reasons are for downsizing. By keeping the lines of communication open and having a clear goal in mind, you will be better able to handle an overwhelming surge of emotions by not springing the change on your loved one at that last minute. Give the entire family time to process what is about to happen and let them have time to adjust to the changes that lie ahead. Some reasons to consider downsizing for your senior loved one include:

  1. Maintenance. Adults 55 and up may want help with gardening and keeping their outdoor space beautiful without hands-on care. Minor home repairs might be too much at this point. Housekeeping can be too strenuous and difficult to keep up with.
  2. Cost of living. Cutting housing costs is a quick way to save money and increase retirement savings. The smaller the space, the less you’ll have to spend on expenses like taxes, heating, and electricity.
  3. Health Issues and aging in place. For those with reduced physical abilities, vision or hearing impairments, and other medical needs that could come down the road, downsizing with "in-home care" offers the services and amenities that are needed at this time.

My team and I are always here to help. Please reach out to us at any time at 858-336-1114. You can also reach us at [email protected].



 


 


Whether you want to sell your existing home, buy your first home, upsize, downsize, purchase a vacation home, or just talk about options, a real estate professional is your best source for information based on current trends in our area. If you're interested in learning more about the 2023 real estate forecast, don't hesitate to reach out - we're happy to help!

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