Seniors

Smart Downsizing Strategies Specifically for the Savvy Senior

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(Article submitted by Caroline James of Elderaction.org)

As we advance in age, there comes a time to simplify life and make it more manageable. This often involves downsizing – moving from a larger living space filled with belongings collected over a lifetime to a smaller, more functional one. For many seniors, the task of downsizing can seem daunting, even overwhelming. However, with some planning and the right approach, it can turn into a rewarding process. This article shared by Real Estate with Mr. G provides you with a comprehensive guide, packed with valuable tips and advice to help make your downsizing journey smoother and more enjoyable.

Utilizing Storage in a Smart Way

When downsizing, creative storage solutions can be your best friend. Selecting furniture with built-in storage compartments allows you to keep necessary items without cluttering your living area. But it isn’t just about hidden storage. Vertical storage solutions, such as shelving units or wall-mounted racks, can significantly help utilize available space better, freeing up your floor space and providing an airy feel to your new home.

Donating: A Fulfilling Approach to Decluttering

Undoubtedly, you’ll find many items that you no longer need or use while sorting through your belongings. Instead of throwing these items away, consider donating them to local charities. This approach serves a dual purpose. It helps declutter your space and benefits your community, creating a sense of fulfillment and purpose. The knowledge that your items will be put to good use can make the downsizing process much less emotionally challenging.

Sharing Keepsakes: Continuing Family Traditions

The sentimental value attached to certain items can often make them difficult to part with. Instead of selling or donating such items, why not offer them to your family members? By doing so, these cherished mementos stay within your family, continuing the family traditions and preserving the memories associated with them. It’s a way of passing down your legacy and ensuring your memories live on.

Wardrobe Streamlining: Simplify to Amplify

A significant part of the downsizing process can involve taking a hard look at your clothing collection. Keeping only the clothes you frequently wear can significantly reduce the amount of storage space needed. You can donate, sell, or recycle the rest. Not only will you have fewer clothes to worry about, but your dressing routine will also become much simpler and quicker.

Embrace the Digital Era: Less Clutter, More Space

Utilizing technology can help make the downsizing process easier. Before unplugging your devices, take a few photos of the wiring setup, serving as a convenient guide for reconnection in your new residence. Furthermore, transform vital documents into a digital format like a PDF and store them securely either on the cloud or an external hard drive, dramatically reducing physical storage requirements and making document retrieval more straightforward. Fortunately, there are many free tools to make this simple. For instance, if you’d like to merge two PDF files together so you can keep similar topics/documents together, you can use this to make it happen – all for free.

Bulky Items: Smart Replacements for Space Efficiency

Consider replacing large, cumbersome items, like traditional ironing boards, with compact alternatives. A wall-mounted ironing board or a handheld steamer could be practical solutions that free up space. Also, consider investing in appliances designed with small spaces in mind – they can be just as effective without hogging your valuable room.

Multipurpose Furniture: Maximizing Space and Utility

When space is at a premium, furniture that can serve more than one purpose is invaluable. A dining table that folds out from a wall unit can double up as a desk when needed, or a sofa that converts into a bed provides extra sleeping space without needing an extra room. These multifunctional furniture pieces are clever space savers that don’t compromise on comfort or utility.   Embracing the downsizing process is about more than just reducing the quantity of your possessions. It’s about simplifying your lifestyle, making daily living more manageable, and creating a comfortable, clutter-free space that you can truly enjoy. With careful planning, a little creativity, and a positive mindset, downsizing can become less of a chore and more of a journey towards a new phase of life. Remember, downsizing doesn’t mean you’re losing something – instead, you’re gaining the freedom and ease that comes with a simpler, less cluttered life.  

MEMORY CARE IN VIRGINIA

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(Article submitted by Rebecca Johnson, Senior Care Advocate, of www.payingforseniorcare.com)

Alzheimer’s disease and other forms of dementia create challenges for families throughout the Commonwealth of Virginia. About 150,000 adults aged 65 and older were known to have the illness in 2020, and that number is expected to rise to 190,000 by 2025, an estimated change of 26.7%. According to data from the Alzheimer’s Association, 2,631 Virginia seniors died from Alzheimer’s disease in 2019, and it anticipates that number will increase. Research from the CDC shows that death certificates underreport Alzheimer’s disease, so these numbers are likely to be higher. 

Memory care facilities provide those living with Alzheimer’s and dementia with care that is tailored to their unique needs. Memory care can take place in its own facility, or as part of a designated wing of another residential care community. Staff members of memory care units or facilities undergo specialized training in caring for those with memory impairment, and the facilities often coordinate social activities and schedules specifically for the needs of those living with Alzheimer’s or dementia.

This guide will cover the cost of memory care in Virginia, financial assistance options for paying for memory care, free memory care resources in the state, and a directory of memory care facilities in Virginia.

Please continue reading at the website, Memory Care in Virginia | MemoryCare.com

Empty Nesters: 7 Reasons Why Moving Closer to Your Adult Children Makes Sense

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(Article contributed by Charlotte Meier, HomeSafetyHub.org) Image via Pexels

When your children leave your home and start a new life, you may feel a sense of loneliness and emptiness in your home. In this case, many empty-nesters decide to move closer to their adult children. However, moving can be a complicated process that requires careful planning, especially when you are looking to relocate to an entirely new area. Here are some essential pieces of advice to consider before making the big move, presented to you below by Real Estate with Mr. G.

Navigating the Region

The first step for an empty nester seeking to move closer to their adult children is to visit and explore the area. This will give you a chance to see the different environmental factors that may influence your quality of life. Take some time to explore the surrounding communities, shopping centers, libraries, and parks. Consider the distance and accessibility to medical facilities, traffic patterns, and air and noise pollution. Exploring the area will help you make an informed decision if you’re planning to sell your previous home and purchase a new one closer to your adult child’s residence.

Organize Your Research Like a Pro

To streamline your research process, it is important to gather all your data and notes from an area in a single PDF file. This will keep the information organized and accessible while you explore. need help with how to add pages to a PDF? Online tools are readily available to make this process smoother and more efficient. By using these resources, you can easily keep track of the locations you have visited and those that still require further investigation.

Get Insights from Neighbors

Another crucial consideration is speaking with local neighbors about their experiences living in the area. They can offer insight into the surrounding community and lifestyle, which can help you determine the feasibility and quality of life in the area. Good neighbors are always an invaluable source of information about local crime rates, schools, transportation, and recreational facilities. They may also have tips on cost-effective ways of living in the area.

Your Children’s Opinion

Another essential source of information is your children. Their perspectives on what it’s like living in the area can be invaluable. Discuss the pros and cons of the area with them, including any advice they can give on real estate, taxes, and other factors that may influence your decision. You can also consult with their friends, and anyone else you know living in the area for their opinion.

Make the Most Out of Technology

When selecting a new place to live, it may not always be possible to be there physically to view it. As a result, you should utilize technology resources like virtual tours to get a better sense of the layout and amenities of the property you’re interested in. These tours can give you an idea of what the property looks like without you having to be there physically.

Make a Reasonable Budget

Before you commit to a new home or an area, create a realistic budget that you can stick to. This budget should include all of your monthly expenses and income sources. Take the time to calculate your current expenses and income and see how they would match up in the new area. Make sure that you account for any changes in taxes, cost of living, healthcare, and housing.

Senior Safety Checklist

Finally, when selecting a new home, it is essential that you verify that it has senior safety features that you may need now or in the future. These features may include grab bars in the bathroom, non-slip surfaces in the shower, elevators, entry-level ramps, handrails, and other similar features. Ensure that the property you select accommodates your needs both today and in the future.

Making the decision to move closer to your adult children as an empty nester is a significant step that warrants careful planning. By adhering to the advice provided, you can make a more informed decision and manage the entire process with minimal stress. Ultimately, being closer to your children and building stronger family ties can bring immeasurable joy and fulfilment in your golden years.

Is It Time To Sell Your Second Home?

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Is It Time To Sell Your Second Home? | MyKCM

During the pandemic, second homes became popular because of the rise in work-from-home flexibility. That’s because owning a second home, especially in the luxury market, allowed those homeowners to spend more time in their favorite places or with different home features. Keep in mind, a luxury home isn’t only defined by price. In a recent article, Investopedia shares additional factors that push a home into this category: location, such as a home on the water or in a desirable city, and features, the things that make the home itself feel luxurious.

A recent report from the Institute for Luxury Home Marketing (ILHM) explains just how much remote work impacted the demand for second and luxury homes:

“The unprecedented ten-fold increase towards remote work since the pandemic is an historic development that will continue to fuel second home demand for many years to come.”

But what if you bought a second home that you no longer use? If you’re now shifting back into the office or are seeing your priorities and needs change, you may find you’re not utilizing your second home as much. If so, it may be time to sell it.

And if you own what’s considered a luxury home, buyer demand for it may be even greater. In another report, the Institute for Luxury Home Marketing explains:

“. . . the last few years have left their legacy for the luxury market. While it might only represent a small percentage of the overall real estate market, luxury homeownership’s influence is growing. Not only has the purchase of homes valued over $1 million (a figure considered by the National Association of Realtors to be a benchmark for luxury) tripled from 2.6% to 6.5% since 2018, but demand for multiple luxury properties has soared over the last two years.

This phenomenal increase has been driven by a growing affluent demographic who consider owning a luxury property a necessity in their asset portfolio. All indications are that this trend is here to stay, albeit that demand is set to return to a more sustainable level.”

If you own a luxury second home that isn’t being used as much anymore, now’s the time to sell. There are still buyers in the market who are looking for a home like yours today.

Bottom Line

Let’s connect to explore the benefits of selling your second home this year.

Planning to Retire? It Could Be Time To Make a Move.

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Planning to Retire? It Could Be Time To Make a Move. | MyKCM

If you’re thinking about retirement or have already retired this year, you may be planning your next steps. One of your goals could be selling your house and finding a home that more closely fits your needs.

Fortunately, you may be in a better position to make a move than you realize. Here are a few things to think about when making that decision.

Consider How Long You’ve Been in Your Home

From 1985 to 2008, the average length of time homeowners typically stayed in their homes was only six years. But according to the National Association of Realtors (NAR), that number is rising today, meaning many homeowners are living in their houses even longer (see graph below):

Planning to Retire? It Could Be Time To Make a Move. | MyKCM

When you live in a home for a significant period of time, it’s natural for you to experience a number of changes in your life while you’re in that house. As those life changes and milestones happen, your needs may change. And if your current home no longer meets them, you may have better options waiting for you.

Consider the Equity You’ve Gained

Additionally, if you’ve been in your home for more than a few years, you’ve likely built up significant equity that can fuel your next move. That’s because the longer you’ve been in your home, the more likely it’s grown in value due to home price appreciation. Data from the Federal Housing Finance Agency (FHFA) illustrates that point (see graph below):

Planning to Retire? It Could Be Time To Make a Move. | MyKCM

While home price growth varies by state and local area, the national average shows the typical homeowner who’s been in their house for five years saw it increase in value by over 50%. And the average homeowner who’s owned their home for 30 years saw it almost triple in value over that time.

Consider Your Retirement Goals

Whether you’re looking to downsize, relocate to a dream destination, or move so you live closer to loved ones, that equity can help you achieve your homeownership goals. NAR shares that for recent home sellers, the primary reason to move was to be closer to loved ones. Plus, retirement played a large role for those moving greater distances.

Whatever your home goals are, a trusted real estate advisor can work with you to find the best option. They’ll help you sell your current house and guide you as you buy the home that’s right for you and your lifestyle today.

Bottom Line

Retirement can bring about major changes in your life, including what you need from your home. Let’s connect to explore your opportunities in our local market.