Downsizing and Selling Your Home? 6 Steps for Seniors to Consider

Many seniors choose to downsize as they age. Downsizing—choosing to reduce the size of your home or move into a smaller space—can bring an array of benefits, especially in an older adult’s later years. Some seniors may choose to downsize to reduce the amount of home upkeep and maintenance that’s required. Others may downsize to save their hard-earned resources for investing in other goals. Some older adults may even downsize into a senior living community .

While downsizing does not have to include selling your current home, the two often go hand-in-hand. Selling a house can be a massive undertaking at any age, let alone as an aging adult. In this article, we’ll share an overview of six simple steps you and your loved ones can take when preparing to sell your home.

Talk To a Financial Expert

The first and arguably most important step when selling your home is connecting with a financial expert. Whether you already have a financial advisor or need to find one, it’s important to have a discussion with someone you know and trust before proceeding any further. Your financial advisor can advise you on whether now is the right time to sell, what the housing market looks like, what financial steps you need to take, and what else you can anticipate along the way.

Communicate With Your Loved Ones

While family and finances can be a complicated mix, it is still beneficial to communicate with your loved ones about your intent to downsize and sell your home. Downsizing from what has been the family home for decades may evoke strong emotions , so remember to be patient with your loved ones — and yourself! Use your discretion as to when and what you’re comfortable sharing.

While the decision to sell your home should be your own, family members can often offer helpful insights and second opinions if needed. Your loved ones, family or otherwise, might offer to assist with the moving process or administrative tasks. They may even know a good financial advisor, real estate agent, or moving service you can use. Don’t be afraid to open up the lines of communication, keep them informed about your plan, and let them help you through the process.

Create a Plan

Once you’ve sought out a financial advisor, made the decision to sell, and brought your loved ones into the loop, it’s time to formally make your plan. Be sure to include your anticipated timeline , the steps you need to take, and what you need to do to make those steps happen.

Write it down or type and print it out. Put your plan somewhere you’ll see it regularly, such as on the refrigerator. Remember that you can always adapt and change it as needed while you move through the downsizing and selling process.

Research a Good Real Estate Agent

For many of us, this step may go without saying. While you can sell your house independently, and plenty of people do, leaving this to the experts is much less stressful. An experienced real estate agent will know how to price your home to maximize its worth while minimizing the time it spends on the market. An agent can help you plan, coordinate the moving pieces involved in a successful sale, and assist you each step of the way.

Make sure to do your research before you choose. A less-than-competent real estate agent can be more frustrating than working with no agent at all, costing you substantial time and money you can’t get back. Take your time researching and interviewing several agents before picking one to ensure that you make the right choice.

Declutter Your Home

Decluttering is often one of the most dreaded parts of downsizing. So many of us have accumulated endless stuff during our lifetimes that we don’t even know where to begin. It can be helpful to reframe decluttering as less about everything you need to get rid of and more about how you can cultivate an inventory that reflects who you are. Avoid getting too bogged down in the details but take the time to truly refine and edit your belongings. Consider the legacy you want to leave and the stories you want your things to tell about you one day.

Once you know what you’re parting with, you can discard things, give treasured items away to family, sell unwanted belongings at a yard sale, donate to your cause of choice, or contribute to a local “ Buy Nothing ” or “ Freecycle ” group.

Repair and Renovate

Don’t save that leaky faucet, squeaky floorboard, or loose doorknob for the next resident. Make those fixes immediately—and certainly before trying to sell your house. Buyers generally aren’t looking for a home that requires obvious repairs, especially if they’re not easy to fix.

Make it a priority to fix any safety issues in your house, such as mold, fire hazards, tripping hazards, and so on. If you can afford it, consider having a professional inspect your home to catch and repair anything you missed.

If you’re looking to increase your curb appeal and resale value, consider making some renovations as well. Painting is an easy and affordable place to start. Neutral wall tones tend to sell well, but if you have a flair for color, remember that someone’s “ugly” home could be someone else’s dream home. Unless you’re on a strict timeline to sell, don’t feel pressured to get rid of what makes your house unique if you don’t want to.

Hire a Professional Moving Service

Last but not least, research and hire a professional moving service. While you could persuade your older grandchildren to do the heavy lifting, it’s far better to leave that to the professionals. Spare yourself and your family the extra stress and the risk of an unanticipated emergency room visit and invest in a good moving company instead.

Support from a Senior Care Expert

Older adults planning to downsize to a senior living community can benefit from working with a senior care expert who can guide them through the transition process. Providing guidance, recommendations, and referrals for professional services that can simplify your move, a senior care expert can offer trusted advice and a wealth of experience. They can be a valuable resource, offering connections to financial advisors, real estate professionals, downsizing companies, senior transition specialists, and more. Many families rely on this support when juggling the demands of work, family, and an aging loved one’s move.

To connect with a Stoney Brook senior care expert and learn more about the benefits of downsizing and a senior living move, reach out to us. We partner with hundreds of older adults and their family members every year to help ensure successful transitions to community living.

Contact us today to meet with a member of our team or schedule a tour at any of our Stoney Brook Central Texas assisted living or memory care communities. Not ready to visit? Check out our valuable free resources by subscribing to our blog and staying in touch. We’re here to help when you need us!