Helen Keit from The Keit Team at Keller Williams Realty Landmark shares 5 key items for you to consider for your housing roadmap for retirement. The first item on this list if for you to look at where you are living now. Look at your current housing arrangements, your maintenance, utilities, insurance, and needed upgrades to be aware of the cost of living where you currently do. The second item is to think in terms of 5-10 year increments. In other words, think of your health, financial, and family changes that can cause your situation to change. Some of these may warrant you to make your home safer or to downsize to a smaller and more manageable space. Number 3, you want may want to start exploring different lifestyle options. Think about where family and friends live, places where you have interests, where you may want to relocate to in the future. The fourth item is to have a 70/40 conversation, which is when you are in your 70’s and your children, or another relative, is in their 40’s, to discuss your wishes regarding how you would like to be treated during health issues and go through the life scenarios and caregiving issues before there is a crisis. The fifth key item is to develop your team, by having an elder law attorney, financial consultant, accountant, caregiver consultants, geriatric care managers, your high-ranked Realtor, and a licensed contractor or handyman. This team can be well-aware of your goals and at certain points in time and as situations change, their input will be important and they will be able to help you make well-informed decisions. We can never be totally planned but if you do these 5 key items for you to consider for your housing roadmap for retirement, you will be well on your way to be in a good position as you grow older.
Helen Keit, Licensed Real Estate Broker, is a Seniors Real Estate Specialist® (SRES®) & Certified Senior Advisor (CSA)®