The older I get, the more I am aware of the “clock” of life. It seems everyone around me is aging so quickly, most obviously my daughters which gives me perspective. Even as I write this I feel myself tearing up, mostly joyous to watch my daughters grow into young ladies. The other, partly concerned, knowing that my parents and grand parents are that much older as well.

This is the yin and yang of life, seemingly so opposite but truly complementary forces.

Housing is the stage to our everyday life through every phase of life. My passion for real estate is solely driven by helping to guide and serve people to find and set their stage.

Every phase of life requires a different “stage” or home that is, and 55+ living is no different. With more and more people working beyond traditional retirement age and the advances in modern medicine, the lines between middle and late adulthood are becoming a bit blurred. A “senior” doesn’t have to be what it used to be, 65 is the new 45, right!

Reality check — not all seniors are the same.

Just as with using any label, we run the risk of putting people into a category when they may or may not actually belong there. This is especially true of the senior segment.

Despite the label of “senior,” there are 3 distinct types of moves I may encounter as a real estate professional — all three involve seniors, but they aren’t based necessarily on age. You see, age is not a good predictor of relocation. Instead, people generally make changes in residence based on life circumstances.

Listed below are the three primary types of moves made by those labeled as seniors:

Move #1: Amenity-based

These individuals and/or couples are seeking a certain type of lifestyle and their home is only one component of a much larger picture. When looking to sell, they are usually transferring their equity from one home to the next and can usually either pay cash or put a significant down payment towards their purchase. The unnecessary responsibility of maintaining that large family home is being left behind. Depending upon employment status, they may be moving across the country for more appealing climates or seeking a place near an airport making it easier to commute. Some are moving closer to kids and grandkids, while others are moving to destination locations where the family can enjoy visiting.

Social engagement, including quality family and friend connectedness, are key decision-making elements.

Move #2: Anticipatory / Planning

As people age, they may begin to experience changes in personal health status or become the caregiver of a spouse requiring additional care. When this occurs, people may find their current home unmanageable or no longer suited for their current situation. Moving means simplifying and making preparations for future care needs and support. With this type of move, seniors are typically looking to either buy or lease a property with minimal maintenance, accessibility features, and in close proximity to quality healthcare. Family members and adult children may be called upon at this stage to assist, and will often have some influence in the relocation process. The key to this type of move is to move before a health status change, but unfortunately may be a moving target!

Access to formal and informal support, as well as low maintenance and accessibility features, are primary decision-making factors.

Move #3: Needs-based

While most people intend to live independently until they die, unfortunately, this reality isn’t always possible. As health declines to the point where more support is needed than can be provided for within the person’s home and community, relocation is necessary. This move may involve selling the personal residence and relocating to a senior living community or into the home of a family member. In many cases, needs-based moves involve caregivers and/or family members as additional decision makers. Late-life moves involving frail elderly or those experiencing illnesses or disease processes can be highly emotionally charged and necessitate a level of empathy in addition to real estate competency.

Bottom Line

There are various different types of moves, not all seniors share the same housing needs and goals. Timing, planing, health status, and caregiver support are keys to decision-making. Is the move forced due to circumstances or a voluntary lifestyle change.