Towson Baby Boomers, Snowstorms, and getting the most out of Life

A big snowfall, and days trapped inside, can be tough for anyone. But for senior Towson homeowners, the impact may last well after the snow melts. This is the time of year we start to get questions from seniors and their families about making a move to a more carefree lifestyle.

The process of selling a senior’s home is different. Though many Towson home owners have previously bought and sold homes, this move is likely to be much more complicated, due to the number of unique issues and decisions—and sometimes the number of people involved. We find that while our senior Towson home sellers make the decision to sell, it is not uncommon for adult children to help them sort through these and other issues:

• Is moving the best alternative? Remember that there are many methods to “age in place” well, and they go way beyond grab-bars in the baths.

• Are close family members on board with a decision to sell or stay?

• What is the best way to downsize a lifetime’s worth of possessions and family heirlooms?

• What are the tax-related implications of a sale?

• What effects might a sale have on future income?

Be aware that the assets provided from the sale of a home can have a huge impact, both good and bad. In addition to potential tax implications, assets from the sale of a home may affect the ability to qualify for future services and housing or care choices. This is why we work with a team of financial planners and attorneys who specialize in elder care and estate planning.

The financial, logistical and emotional issues involved in a move can be stressful for a family to navigate. Senior parents and their adult children may feel they are in unfamiliar waters as they deal with these questions.

Making the decision to move can be difficult emotionally, financially, and legally. Just ask – we’re happy to provide you with a broad array of options to:

• Familiarize you with the various types of senior housing available in the Towson area.

• Suggest important questions to ask when you’re visiting various housing options.

• Refer you to other professionals who can help you understand and compare the true costs of each option, determine which options are affordable based on your financial situation, and examine the legal contracts involved in the process.

• Suggest a geriatric case manager if necessary, to help determine a parent’s needs

Chris Raborn and Zach Hosford, Keller Williams Excellence Realty 410-560-5858
www.TowsonHomes.Info

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