As a first-time buyer, you may have looked to your parents for down payment assistance, advice on what to look for in a home or as an extra sounding board during the process. As your parents get older and look to downsize their home, they may turn to you for the same support.
Aging adults often need help with home downsizing so they can move into a more manageable home size, transition to an assisted living facility or relocate to a retirement community. When that time comes, you can return the favor your parents did for you and help them through their selling and buying experience. Trust me, they will need you.
It can be very emotional for older adults to leave the place they’ve lived in for years, raised their family in and have so many memories wrapped up in.
I’ve worked with numerous aging adults and parents. They have lots of questions, can get confused by the decisions to make, need questions answered more than one time and generally are overwhelmed by the financial decisions and emotional toll of home downsizing. So remember to pack your patience as you help them pack their belongings.