Lifestyles over 50 Finance & Money
As the frozen ground relinquishes its grip on budding tulips, we take note of the regeneration around us. Spring represents rebirth and renewed vitality and stimulates a reassessment of our lives. For some this is manifested in a physical sense with the purging of clutter and spring cleaning, for others, it is the planning of activities and goals during the summer months. I would challenge readers to ask themselves a more fundamental question about their home: "Is this where I need to be?" Following are five considerations to help you.
Lifestyle – As we transition through seasons of life, things can change dramatically. This includes our career, activities, finances, those who live with us, and what we need in a house. Many argue that a home can be made anywhere as long as they have a comfortable house. I would agree and ask you if your house accommodates your lifestyle. Do you pay additional real estate taxes or pay to heat rooms that you seldom use? Or could a Senior Living option be better for you? It may be time to downsize.
Location – At one point in time we bought our home in a specific location for specific reasons. Are those reasons still valid? Many are now retired and do not need to live close to work, but prefer to live close to grandchildren and family. Others want to move south, rid themselves of yard work or move to an area more conducive to their lifestyle.
Budget – Even if your house is paid off you can potentially save money on a new home. Whether you downsize or move to a more affordable area there are many options to free up your budget for higher priorities.
Mobility and Health – When you moved in your home you were obviously younger, and maybe healthier. There is no sense in doing stairs if they present a challenge to you or pose a risk for a fall. Falling can be a very expensive accident.
Future – All these considerations are important in light of your current activities, but you should also review them in how you imagine your life in 5 or 10 years.
We all love our homes, but we must admit that what we most love about our house is not the four walls and the roof. Rather, it is the people, activities and memories that we have enjoyed in the home. I want to challenge you to pursue those experiences and people in your life, build new memories, and find the home that will best allow you to do it. Count on me to help you make that transition!
Elissa Clausnitzer, SRS, is a licensed Realtor with Weichert Realtors and has over 30 years of experience in real estate. She specializes in helping Boomers and seniors achieve their goals in their next step in life. For a free Comparative Market Analysis you can call her at