“Should I stay in this big house that I have lived in forever, with so many memories of good times with family and friends?”  Sometimes I can almost hear the arguments going on in my clients’ heads, weighing the plusses and minuses of making a move as they plan for retirement. “Should I stay where I am despite the high taxes and downsize to a smaller home nearby or relocate to Delaware where taxes are so much lower?” Moving is a big decision in the best of times, but in times of financial uncertainty and depressed housing prices, it can be very stressful. My advice? Take your time and think things through carefully.

Studies show that the choice you make now determines where you will live for the rest of your life. So, let’s take a look at some of your choices and talk about how to make a stay or go decision you’ll feel good about later.

Stay put. Do you love your home, your neighborhood and your town/state? There’s nothing wrong with staying right there when you retire and many people do. Sure you might need to make some changes. You may want to modify the floor plan to allow more first floor living space, upgrade your kitchen or master bath, add that sunroom or create outdoor living space so popular in new homes today. Make your old home new again and do it for less money perhaps than buying, selling and moving.

Downsize. Maybe the home you’re in now is just too big to deal with now that the nest is empty. If you still love the area in which you live, however, why not downsize down the street or to a town nearby? Moving a short distance may reduce your taxes, cut your living costs and allow you to stay in the area. Lots of great starter homes or condominiums are also perfect retirement homes.
Simplify. Do you really need more than one home when you retire? Wouldn’t you really rather spend all your time at the beach house now that you have the choice? That might be the easiest decision and something you have always wanted to do. What would it take to turn that vacation getaway into a comfortable year round home? If you sold your primary residence would that provide the funds you need to remodel the beach house, add the gourmet kitchen, create an elegant master suite or even gut and do a total renovation?

Relocate. For many Boomers who have moved many times during their lives due to career, marriage, divorce and more, this might be the first time they get to decide where they want to live just because they have that option. Think about that for a minute. Growing up you lived where your parents lived. Your first move was probably because of the school you wanted to attend. Then, your choice of career dictated the best place for you to live. Next you were transferred; then you were offered a better opportunity but you had to move again. Now, it’s your turn and where you live is totally up to you!

Despite logic, some people just have a harder time moving. It’s an emotional decision and with couples, one may want to stay while the other wants to go. Once you’ve made that big decision, you still need to think about how you are going to live and how you will provide for your future independent living. I know, I hear you saying “I’ll think about that later, when I get old.” But I’m asking you to think about it now while you can still do something about it.

The right remodeling project will reward you now, as you age and again if you do decide to sell. According to Remodeling Magazine’s Annual Survey of Cost vs. Value, kitchens and baths are the most popular remodeling projects and return the most value. 

Adding or remodeling a master bath? Put in a curbless shower. Make it spacious, use fabulous tile, add multiple shower heads and a marble bench – it’s a Spa Bath that you will be able to use no matter what happens in your life.
Upgrading your kitchen? Look at the new comfort height appliances. Make some of the counter lower so that you can use regular chairs instead of stools. Use lots of drawers in your design.

Remember, “Aging in Place” doesn’t happen by accident and if you wait to make changes in your home until you need them, it will be too late.

BE THE BUYER!

I remember taking golf lessons and the instructor said “Kathy, BE THE BALL!” Guess he meant that I had a better chance of hitting the ball if I really focused all of my attention on the ball. To sell your home at a good price in this market will require your full attention.

Would you buy your home today?

If you were a buyer, would you want to buy your home? Have you taken the time to walk in the buyer’s shoes and go look at homes for sale today? Do you really know the competition from the Boomer buyer’s point of view?

What do Baby Boomers want in their next home and what can you do to attract them? There are some common threads that I see over and over and they favor newer construction:

• First-floor Master Suite
• At least 3 bedrooms and 2 full baths
• One-level or the ability to live on one-level
• Gourmet Kitchen
• Open, flexible floor plan
• Two-car garage

One thing National Builders do know is what buyers want in a floor plan. If you have owned a historic home or a beach house for years and it has not been brought up to today’s standards, you have a choice to make. You can either hire a knowledgeable contractor to update your home or be prepared to reduce your asking price to allow the buyer to make those changes. But – do Baby Boomers want to tackle a project as they prepare for retirement or do they want to buy a home that’s perfect as it is?

Why are you selling?

Are you selling because your house needs updates and you would rather buy new than do the work? Just how difficult would it be to add a first-floor Master Suite to your home? Is your kitchen a dream that you can’t wait to recreate in your next home, or should it be gutted and designed from scratch?

I have taken buyers through many beautiful, well-maintained homes that might have sold quickly a few years ago. The problem today is that they have been renovated but not updated. Historic home renovations did not always include reworking the floor plan to add a first-floor Master Suite. Preserving the original layout with a step up here and a step down there means that today’s buyer would have to tear it all out and start over.

Even if your home is perfect, what about your community? Remember, buyers are looking at the neighborhood, not just the house. Is it friendly? Will they be welcomed or will they feel like outsiders. What does it offer within walking distance? Don’t just sell the house, sell the lifestyle. Help your Listing Agent with some insider information that will differentiate your house and make it feel like home.

When I am working with buyers, I tell them that the first reaction is emotional. When they walk through a house or a community and it feels right, that’s emotion. Next comes the hard part and that’s business. If there is no emotional connection – it’s all hard work. Buying or selling a house can be stressful. Your job as a Seller is to make it as easy as possible.

As soon as you list your home for sale it is no longer your home – it’s a Model Home. There’s plenty of information out there on Staging – read it. Start at the front door and BE THE BUYER!