We talked to our Seniors Real Estate Specialist, Stephanie Anderson, to learn more about this retirement topic
According to the US Census Board, by 2030 there will be about 70 million Americans aged 65 or older living in the US. This age group will make up almost 20% of the total population. Aging in place is a topic getting a lot of attention because of the increase of baby boomers hitting retirement.
What exactly is Aging in Place?
Aging in place means a person living in a home of their choice for as long as they can. It allows you to live with the comforts and resources you need to be self-sufficient. You are able to access the things you need for daily living, including any additional services to maintain your quality of life.
“Now is the right time to be thinking about your aging in place goals if you are in or nearing retirement. It’s important to think about how your home can meet your needs through the next couple of decades,” said Stephanie. “Ideally you should start to consider how you want to live in retirement between ages 50 and 60.”
You will be better prepared for any challenges you face in your retirement years if you start planning for your future residence now. In turn, you lessen the risk of having to make a sudden move for an unexpected life change. It can also offer peace of mind to you and your loved ones.
Here are the considerations Stephanie walks her clients through when they are preparing to purchase a home for their golden years:
- Does it have easy access to transportation/transit?
- Is it a location that accommodates driving safely without congestion or confusing roadways?
- Will it have a mortgage that allows you to live comfortably and still pay for your other expenses?
- Can the household maintenance be done without strain, or are you financially able to outsource it?
- Does it have access to amenities, entertainment, social network, and healthcare?
- Can the home be retrofitted to accommodate accessibility, ie a ramp, additional railings, and handlebars in the bathroom?
As an SRES, Stephanie is specially qualified to address the real estate needs of adults ages 50+. She is trained in each generation’s unique issues and how that affects their residence and lifestyle. Take a look at our downsizing and senior services to learn more.