Reframing Retirement

Home designed by Crandall Ritzu Architects

Real Estate planning for Boomers... and the Millennials that love them!

Last night, I read more about this home that came on the market locally. I was struck by how architect Carol Crandall designed the home for the owner, who was 75 at the time, to be a place she could live independently and comfortably. A few examples: everything one utilizes on a daily basis is located on the main floor, details like door knobs and drawer pulls were tested and carefully chosen specifically for their ease of use, kitchen cabinets were designed to eliminate difficult to reach areas, heavy lifting or a need for step-stools. The lower level serves to accommodate visiting family but was also designed to be able to house a home-health aide if the need arose. Doorways and hallways are barrier-free.

But what makes the design even more spectacular is the consideration for how the resident wanted to live life- with an emphasis on the beauty of the surroundings, and a design that enabled enjoyment and a high quality of life. A truly special place.

We put a lot of emphasis on retirement-planning from a financial perspective. And financial planning is critical. If we're lucky, we're able to begin our retirement financial planning decades in advance. It's time to include real estate planning as part of that picture. It's time to reframe how we approach our retirement housing goals.

And this brings me to my next point. Fellow millennials - talk to your parents about their housing needs and goals for the next phase of their life.

Does their home still serve their needs and enable the lifestyle they want to have? Or is it more of a burden of unpleasant upkeep, increasingly difficult stairs, too much square footage (or not enough in the right places), etc.

For many people letting go of the home they raised their family in may feel like a loss. And I totally get that. It's incredibly hard to let go. (One of my personal mantras is "Let go or get dragged" and that resonates with me 100% because I have such a hard time letting go... so, trust, I get it.) But I would encourage you, fellow millennials (& your parents), to reframe that mindset by looking forward and focusing on what kind of life you want to lead now, in the present... and in the future.

For example, do you want to be able to enjoy face-to-face time engaging with grandkids? Do you want to be able to have your friends over for a dinner party? Do you want to spend your time enjoying your hobbies and environment? Does your current home enable you to do the things you love comfortably? If not, let go. The memories you will make in a home that meets your needs will be so much richer than those in a home that does not.

Family homes are currently highly sought after and there is a significant shortage, so maybe thinking about a new family fully-enjoying what your home has to offer can help soften the blow or change your perspective. Perhaps having a current market analysis of your property to fully understand your current assets would impact your decision. Maybe sitting down, closing your eyes, and visualizing yourself with your family in a new home that you can navigate freely and easily, would shift your outlook.

Additionally, it is so important to start having these conversations as early as possible. As we've no doubt all been reminded by the last year, our health is much more fragile than we like to think. If you're able to make these decisions and plan for future accommodations in advance, you will have so many more options available to you. You will be able to customize your property search carefully and considerately rather than having to make an emergent decision hastily and settling for a home that may meet some of your needs but doesn't enable your full lifestyle goals. Options are good.

The property that inspired this article is a beautiful reminder of the kind of alternatives to traditional retirement housing to consider, and exemplifies how design can enrich your life in countless ways.

If you, or your family or friends, would like to better understand the current value of your home, suggestions for home improvements to get you top dollar, or to chat about finding a home that better meets your needs, let's connect!