Fear of Change
My article last month addressed the question, what is the top fear keeping seniors from making a move? The answer was fear of change.
I discussed steps you can take if fear has kept you from improving your situation. This week I would like to answer the question, what is the top reason for making a move. In other words, why would a senior want or need to move after living in the home for several years. The answer Maintenance! The many chores and back breaking work needed to sustain a home. Comments from the folks surveyed, were anything from snow shoveling, yard maintenance, home deterioration, lawn maintenance, to finding it hard to rely on maintenance or handymen, and worry as to how the work will get done.
A few months ago I received a letter from a client, Marion. She is a wonderful lady who lived in her home for over 30 years. Her husband had passed away a few years ago, and was alone in her home. She was left with the responsibility of maintaining a home which was aging and in need of improvements. She was on a tight budget, and did not have the resources to upgrade the home. She had stopped entertaining, which was her passion. Marion was isolating herself from her friends and family members, and was not enjoying the home she once cherished.
I have experienced Marion’s situation time and time again. Marion is a proud lady. I discussed the many options for Marion as well as many other clients in the past. Ask yourself the following question, ‘have you been isolating yourself from your friends and family due to the negative presentation of your home?’ Have you had trouble finding workmen to take care of the maintenance issues of your home? When you find workmen, do they do the job with the same attention to detail if you were doing the same job? Are finances keeping you from enjoying the home you’ve loved for so many years?
If you answered yes to more than one of these questions, then a change is needed. If you’ve considered moving to senior apartments, a condominium, or a senior independent care community, then research the different options available in your community. Today, there are so many options and cost effective. Talk to marketing directors of the various communities in your area. They will give you all the information you need, without pressure. Talk to your friends and family that have already made the move. Find out how they are doing, as well as what tools they used to make their decision.
Have a home inspection done by an accredited home inspection company. There are several companies ready to help. They charge anywhere from $275-$375. They will go up on the roof, open the furnace, check the electric, plumbing, and basement walls and drainage. A good home inspector will make suggestions as to repairs that should be done now and repairs that can be done later. They will provide you with names of reliable companies and give you a rough estimate of the cost of repair. The home inspection report is invaluable. You can use this report as a selling tool if you decide to make a move in the future.
If funds are not available for necessary repairs, you may want to talk to your bank or a senior financial planner about using the equity in your home in relation to your overall retirement goals.
A professional can give you an objective opinion as well as guidance and proper planning for your entire estate.
Next month’s article will examine the question, ‘What is the second greatest fear about moving (the first was change)?’ Try to guess the answer!
Tags: budget, home inspection, maintenance, report, snow, yard