Seniors--on the Move

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.

  1. 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.
  2. Retirement: This included 15% of 55 to 64 year olds and 16% of people aged 65 to 75.
  3. 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.
  4. Neighbourhood: 10% of the 64 to 75 age group felt the area had become less desirable.
  5. 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.

Eugene Pilato

Eugene Pilato

Broker of Record
CENTURY 21 Today Realty Ltd., Brokerage*
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