Taking over the responsibility of selling your elderly parent's home can be deeply emotional and difficult to go through. Whether the circumstances are due to declining health, mobility, finances, or just a desire to downsize can be a challenging process to maneuver for parents and children.
Here are several Do’s and Don’ts for handling this sensitive issue.
Do meet with a real estate professional
There is no reason that you have to go about selling your parent's home alone. A meeting with Sue Heddle Homes will take out the stress of how to put your parent's home on the market. Benefits:
Accurately assess the home value through in-depth market analysis.
Provide a cost-effective action plan of how to market your home to buyers ( i.e. update outdated wallpaper or carpets, etc).
Staging with up-to-date furniture and accessories to showcase the home’s best features and attributes.
Create a custom marketing package that includes professional photography and a personalized home website.
Sue Heddle is a trusted family liaison expert who guides parents through the process of selling their home with compassion and respect for their wishes. Sue understands the emotional nature of the process and works to ensure that the transition is as smooth and dignified as possible for all parties involved.
Don’t minimize the whole financial picture
Meet with your parent's financial advisor to determine your parent’s total income, mortgage, taxes, and investments. Creating a financial plan ahead of time will significantly aid with matters such as a power of attorney and the level of care required – including if your parent/parents can live independently, or if an assisted-living/long-term care facility should be considered.
Having a transparent financial plan is critical to make sure money is efficiently managed and plans are made ensuring your parent’s best interests are in mind.
Do make a home inventory list
Creating an inventory of household items is an important step in the moving process for your parents. Create the following separate lists:
Items your parents will bring with them to their new home.
Items to be given to family/ friends.
Items for donation.
Items for storage.
It is also important to consider the available space at your parents' new location and whether or not certain items will fit or be practical to bring.
Overall, the goal of creating an inventory list is to make the moving process as smooth and stress-free as possible, while also ensuring that your parents have the items they need and want in their new home.
Don’t ignore emotions that come up
It's important to remember that moving can be a process fraught with many emotions, especially for older adults who have a strong attachment to their home and neighborhood. It's natural for your parents to feel a sense of displacement, sadness, and anxiety as they make the transition to a new living situation.
Keeping lines of communication open is an important aspect of helping your parents through the process of moving.
Acknowledging their feelings, and encouraging them to express their emotions may help validate how they are feeling while providing comfort and reassurance.
As much as possible, involve your parents in the decision-making process, as this can give them a sense of control and ownership over the move. Providing information resources about their new living situation can also help ease any anxiety or uncertainty they may be feeling.
In closing, you and your parents are not alone in the home-selling process. Sue Heddle Homes is here to help. Sue’s main priority is to showcase and sell your home, so you don't have to.
Working With a Trusted Real Estate Agent
With almost 15 years of experience, Sue Heddle Homes has what it takes to sell your home. With proven marketing strategies, free home staging for all listing clients, and in-depth local market knowledge, we are committed to making the real estate process as smooth as possible. To learn more about working together, please call 416-906-7998.