Moving can be a daunting task. For many seniors it can be quite onerous. Seniors tend to take their time and think things through carefully before deciding to sell.
5 Major Reasons Why Seniors Move, according to the 2011 NAR Profile of Buyers and Sellers.
- To be Close to Friends and Family: 28% of 65 to 74 year olds and 50% of those 75 or older sold their homes to be closer to friends and family. We often see this. For instance, a Snowbird couple dropped into the office. They wanted to move back to be with their children and grandchildren.
- Retirement: This included 15% of 55 to 64 year olds and 16% of people aged 65 to 75.
- Size of Home: For 12%, the home was too large and for 7% it was too small. Many seniors live in homes that accommodate visiting family members, such as children and grandchildren.
- Neighbourhood: 10% of the 64 to 75 age group felt the area had become less desirable.
- Upkeep: That the upkeep was too difficult due to health or financial limitations accounted for 9% of the 65 to 74 group and 10% of those 75 and older. As well, in our experience, a woman living alone (and sometimes a man) can no longer keep up with the needed maintenance and repairs. She may have to hire people to do what her husband used to do and affordability can be a problem.
There are, of course, other reasons that cause seniors to move, such as:
- One of the spouses has passed on and the living spouse finds it difficult to live in the home without the other loved one.
- The person is influenced by family members, usually their children because:
--They are concerned for the senior’s welfare due to poor health, safety and forgetfulness,
--The son or daughter has a family and though they try hard to take care of home and parent(s), it’s too much for them.
--The son or daughter lives out of town and cannot help in any meaningful way. They want the parent(s) to move to their town so they can be closer--in their home, in a condo or in an assisted living facility close by.
- The senior lives alone and is lonely; they may be afraid of living alone.
- They have friends in an assisted-living facility where they can socialize.
- They no longer drive and depend on others.
Of course many seniors enjoy living independently as they continue to live healthy and vibrant lives.