The Process
There are several steps for a transition to a 55+ facility. First, there is the question whether to rent or buy. Next, you will want to consider full or limited equity ownership. Third, will you want to remain in this new home and age in place? You will need to plan your transition, move and possibly downsize. All of this may sound difficult. However, if taken one step at a time, it becomes easier, and will be worth the effort when you are settled in your new home with new friends near by at the Gramercy on Burnhaaven.
Renting vs Buying
Your first decision when you decide to move to a new home is whether to rent or buy.
Age is one consideration that you may wonder about. However, the NAR Home-buying Report, issued in 2017, found that in 2016, thirty percent of all home sales were by people from 52 to 70 years old and another eight percent were purchased by seniors from 71 to 91 years old.
Do you currently own your home with no mortgage? Homes have been selling at a premium. When you sell you have a choice: invest in another property or invest in a variety of financial instruments and rent an apartment.
Age is one consideration that you may wonder about. However, the NAR Home-buying Report, issued in 2017, found that in 2016, thirty percent of all home sales were by people from 52 to 70 years old and another eight percent were purchased by seniors from 71 to 91 years old.
Do you currently own your home with no mortgage? Homes have been selling at a premium. When you sell you have a choice: invest in another property or invest in a variety of financial instruments and rent an apartment.
Aging in Place
One advantage of a unit at Gramercy Burnhaven is that owners are able to modify their units to accommodate their needs as they age. Individuals may contract and arrange for services as needed. There are two elevators and all units are one level with no stairs to climb.
Making a transition and downsizing
After deciding that moving to a 55+ residence is right for you, and what type of facility you would like to live in, visit any facility and its residents near where you want to be. Have your spouse, children, siblings, or friends accompany you. It will give you a sounding board as to what you have seen and if it will fit your needs. This may take a few days or months.
Second, you have owned your home for many years and have many items that you treasure. Moving to a smaller home requires downsizing, meaning that some items need to be given to children, friends, sold or donated.
Downsizing should begin as soon as you have determined that you will be moving to a new home, regardless whether it will be in a few weeks or months. It will be tempting to put it off until later. However, if the task is spread out over time and a little accomplished at a time, it will be easier. Pick a smaller room and begin sorting. You have several choices: has it been used in the past year; will you continue using it and does it fit in your new home? Second, if you no longer need it, will a family member or friend want it? Third, if still serviceable, donate or sell it. Fourth, does the item have sentimental value then keep it. The remainder can be set aside to dispose of.
Next you can start to place your items in boxes of an appropriate size. Pasting a label on the outside of each box listing the contents will be useful. Assorted size boxes can be obtained from many retail stores for a nominal cost. Be sure to keep those items out that you will be using before you move. There are many services available that you may want to explore as you prepare for your move.
Second, you have owned your home for many years and have many items that you treasure. Moving to a smaller home requires downsizing, meaning that some items need to be given to children, friends, sold or donated.
Downsizing should begin as soon as you have determined that you will be moving to a new home, regardless whether it will be in a few weeks or months. It will be tempting to put it off until later. However, if the task is spread out over time and a little accomplished at a time, it will be easier. Pick a smaller room and begin sorting. You have several choices: has it been used in the past year; will you continue using it and does it fit in your new home? Second, if you no longer need it, will a family member or friend want it? Third, if still serviceable, donate or sell it. Fourth, does the item have sentimental value then keep it. The remainder can be set aside to dispose of.
Next you can start to place your items in boxes of an appropriate size. Pasting a label on the outside of each box listing the contents will be useful. Assorted size boxes can be obtained from many retail stores for a nominal cost. Be sure to keep those items out that you will be using before you move. There are many services available that you may want to explore as you prepare for your move.
