Senior Spotlight: Downsizing vs. Aging In Place
Why it’s not an easy decision…
Welcome back to the Bobbi Decker Senior Spotlight! Those of you who have followed us for decades across newspapers (remember those days!), our Peninsula TV program and real estate work know that supporting seniors has been one of our core values. In fact, the challenges we saw so many older adults experience is why we dedicated so much of our personal and professional life to this transition.
Long gone are the days when older adults became empty nesters, desired a smaller home and automatically considered a senior community or moved in with an adult child. As of 2021, AARP reported that that 77% of those aged 50 and older plan to age in place. In 2014, that figure was 90%, possibly indicating a shift of more retirees choosing not to stay in their lifelong home over the last 10 years. Could this be related to the fact that just 3 months ago, Housing Wire reported that 80% of seniors cannot afford to age in place – including the cost of in-home care and necessities sch as food?
The short answer is: it’s complicated. Some publications refer to this topic as ‘the great conversation.’ While there is no one right answer for everyone, there are many key considerations that virtually all older adults can relate to. We’ve been inspired to go back to our roots and summarize these key factors after reading “Why downsizing is not an easy call for seniors and families to make.”
Do any of these reasons resonate with you or someone you know?
The old adage ‘there is no place like home’ is what keeps so many of us amidst the walls we know and love. There is no doubt that moving can be disruptive and distressing, yet waiting too long can mean fewer options and more stress. Ultimately, you want to base your decision on where you can optimize your tasks of daily living and enjoy your best quality of life. We always advise our clients to consult with their financial advisor, tax professional, medical team, Senior Real Estate Specialist® and even a Senior Move Manager.
Please be sure to reach out for more support and resources if you are struggling with the decision to age in place or downsize. The only right decision is the one that is right for you!
Warm regards,
Bobbi
Bobbi Decker
DRE#00607999
Broker Associate
650.346.5352 cell
650.577.3127 efax
www.bobbidecker.com
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