Your Guide to a 2025 Real Estate Tune-Up

Ben Richardson

 

Almost everybody pauses to contemplate the year coming to an end and a new year beginning, often resolving to make the next year even better. A bit of planning never hurts!

 

As seniors, we might consider how to improve our health with more exercise, get in for a checkup with the doctor and/or dentist, and maybe improve our diet. We give thought to our social interactions (are there enough?) and consider new hobbies

or pursuits.

 

One other idea that deserves a moment of thought is our living arrangements and whether this is the year to make a change.

 

As we age, what we desire in a home evolves. At some point, many people consider whether the family home is the right size for their current status. If you often enjoy entertaining, the home you raised your family in may still suit your needs. Having many treasured belongings that you enjoy can be another incentive for keeping a larger home.

 

If, however, you feel like you’re rattling around in more space than you need, you’re not alone. Many seniors opt to downsize to better accommodate their current situation.

 

Whether you like and plan to stay in your current home or you’re pondering the possibility of moving, you’ll want to evaluate accessibility with an eye to the future. In general, many seniors find that it’s helpful to have a home with no or few stairs, wide hallways, bathrooms with grab bars, and other amenities.

 

If your home isn’t as accessible as you’d like — for current or future needs — renovations might be the answer. If that isn’t feasible, however, finding a home that matches your vision might be.

 

Take a moment to ask yourself if you still like your neighborhood. Is it near social activities, healthcare, shopping, and friends or family? Do you still feel safe? As you age, do you feel the neighborhood still fits your lifestyle?

 

Also ask yourself if your home coincides with your financial goals. Consider the cost of home maintenance and repairs, mortgage, and property taxes. Would you benefit from a smaller home with less landscaping, lower utility bills, and reduced property taxes?

 

If you decide that downsizing is worth a look, think about the many different types of homes you can choose from. Smaller family homes, condominiums, duplexes, and townhomes are popular choices. Ponder the location, looking for proximity to family and friends, healthcare, and shopping. Perhaps you have other priorities as well.

 

Another great option is a 55+ community. Most towns abound with inviting senior communities. It’s worth the effort to visit different options to see what suits you best.

 

First consider what you’d like to have and then see how each option matches. What amenities are offered and what’s important to you? Golf courses? Activities? A gym or pool? Find out too if healthcare is on site or nearby. If possible, talk to some current residents and see what they have to say.

 

As you embrace the new year and evaluate your living arrangements, keep in mind that the decisions you make can greatly impact your quality of life. The goal is to make yourself as confident, happy, and comfortable as possible, whatever that may look like for you.