Real Estate Questions & Answers

CATHY & JIM HIGGINS

Question: We are nearing retirement age and were hoping you’d share some ideas gathered by some of your older clients about housing?

Answer: Generally speaking, after retirement, the kids are out of the house and larger living spaces are no longer required. But you must carefully consider how much square footage you’re comfortable with. The biggest mistake we find when couples decide to downsize, is they miss the extra space. There may only be two of you, but you are not working and will certainly be home more often. We have seen that couples were happier if the home was at least 1200 Sq. ft.

Some of the older buyers are moving into a townhome that provides them with a bit of garden space so they can be outdoors, garden, and enjoy the sunshine.

E094, Katie Peterson: Approximately 15 bags of clothes, crib

Although some people enjoy gardening and other outdoor activities in retirement, others are fed up with landscaping and other chores of home ownership. They may welcome the transition to a place with less yard space, less maintenance, and more amenities that are taken care of for them. Condominiums and townhomes fit that bill.

Having restaurants, retail, and other everyday destinations nearby is a major factor in choosing a home. Walkability is important. With more time on their hands, having the ability to stroll to shops, restaurants, and entertainment can be considered a luxury. There may also come a time when it’s not safe to get behind the wheel of a car, and you don’t want to have to rely on someone else to drive you for every errand.

For home buyers anticipating mobility issues as they get older, one of the most important criteria is a one-story home. Older buyers are looking for properties where the living space is on one level. People are taking steps to avoid ... steps. This is a big consideration if you hope to stay in your own home as you age.

If you’re an older buyer purchasing a home away from where your kids live, it’s important to think of the location. It should be a location where people, including your children will want to come and visit and can bring their children and pets.

Keep in mind your expenses. Excessive housing expenses should not keep you from traveling and enjoying life.

As you know, Cessation of work is not accompanied by cessation of expenses.

E-mail us your Real Estate questions at Cathyah@aol.com. Thinking of selling your home? Call Cathy & Jim Higgins, Licensed Broker/Realtors in Indiana & Illinois. IN: 219-865-4361 IL: 708-828-3304. McColly Real Estate. Website: www.Cathyhiggins. com. Personal Real Estate Journal: www. Higginshousechat.blogspot.com