If you’re over 50 and looking to relocate, you should consider working with real estate agents who specialize in working with your demographic. Some have earned the designation SRES®, which stands for Seniors Real Estate Specialist®, from the National Association of Realtors, while others have gained their expertise through experience alone.
What makes them different from other real estate agents? For starters, they’re sensitive to the unique needs of adults entering a new phase in life. They also have more specialized knowledge when it comes to what over-50 adults need in terms of legal and financial support, such as knowing about reverse mortgages and accessing retirement accounts.
When you work with an agent who focuses on seniors’ needs, you can pick their brain and get great information not just about the homes you’re seeing, but for the new life you’re building. Here are some things your agent may be able to help you with.
Location, location, location. In this case, that means distance to doctors and hospitals as well as assisted living facilities and nursing homes. This is a good time to discuss with your spouse or partner how you see things unfolding in the next couple decades. Perhaps you both want to stay in your home together or move to an assisted living community together. Maybe one of you would move to a facility while the other would continue to live at home. Think about how this might play out, as it could affect the house you buy now. Being able to easily visit each other in a nearby assisted living facility or at the hospital would make things much easier.
Important design elements of a senior-friendly home. You likely want to stay in your new home as long as possible. That means making sure it’s a home you can easily live in even as you and your partner begin to lose mobility. Looking for properties that make that transition easy should be at the top of your list. Your agent can help you find homes that feature senior-friendly elements like a master bedroom on the ground floor so you don’t have to climb stairs and no-slip flooring. You may not need them now, but they could make the difference between being able to stay in your home for another decade and having to move out.
Relevant resources. An experienced real estate agent in your town will know your community well. One specializing in seniors’ needs may know resources relevant for seniors even better. They will be able to point you to resources far in advance of when you need them, like funeral homes, cremation services and mausoleums, as well as resources you can use now, like social groups catering specifically to seniors.
You can also ask them to connect you with legal and financial professionals. At some point very soon you’ll want to speak with an attorney to update your wills, living wills and healthcare powers of attorney. You may also want to speak with a financial advisor about how to use what you have to see you comfortably through retirement and how to leave your estate to the next generation in the best possible manner.
Special care. In the end, working with a real estate agent who has specialized knowledge means you get specialized care from someone who’s catering to your unique needs. If you’re an adult over 50 looking to relocate, it’s definitely worth looking for an agent who specializes in seniors.
