Homebuying For Seniors: Important Considerations

22 November 2021
 Categories: Real Estate, Blog


Everyone probably considers buying a home an extremely important and perhaps even stressful event. If you fall into a certain age group, though, you might need to do some more research before you make the move. Senior citizens move into new homes all the time, but they should think about the below issues first because this home buying experience could be a lot different than at any other age.

Small Miscues Equal Large Issues

The older you are, the less you can afford to make a mistake when searching for a home. Fortunately, many seniors will begin their home search using a lot of home buying — and life — experience. While many may know exactly what they want in a new home, some seniors may overlook certain matters and those issues could become permanent if this happens to be the last home they intend to buy. That just means that seniors should carefully consider issues like location, safety, space, maintenance, and noise.

Why Move Now?

To help seniors focus on ensuring the new home meets all their needs, it might help to think about the reasons for moving at this time. Many seniors feel the need to downsize or they might want to move closer to their family in another area. Other seniors foresee a need for more medical care in the future and want to live closer to excellent medical facilities. Seniors also need to pay attention to the neighborhood they chose. Some may be near a noisy airport or a major highway and that could really put a damper on the need for peace and quiet.

Single-family or Multiple Family Residence?

If you are used to a single-family residence (SFR), moving to a condominium, apartment, or townhome could be a lot to get used to. However, multiple family residences (MFR) may offer seniors several benefits. Often, an MFR will provide seniors with transportation, workout facilities, social gatherings, and more. In addition, seniors who go with an MFR won't need to worry about painting or yardwork anymore because maintenance and upkeep are usually covered by the neighborhood. If you want the ease of an MFR but want more privacy and a bit of room to garden, a townhome could be a perfect choice. Often, you can enjoy dedicated parking, the energy-saving benefit of an MFR, but have more outdoor space to enjoy.

Safety Considerations

If you, like many seniors, are concerned about safety issues, consider a gated neighborhood. You can find both SFR and MFR choices with gated entries. Be sure they are either always manned or have gates with codes required to enter.

Speak with a real estate agent and let them guide you to the best home choice for you.

For more information contact a company such as Wilhelm & Associates Realtors.