No matter the reason, selling an elderly parent’s home can be a difficult and emotionally fraught decision. Their home is full of cherished memories, and leaving is one of the hardest things anyone will ever have to do. After making the decision, it’s time to start navigating a real estate market that has drastically changed over the last few years, which complicates the process even further.
Getting the house ready for a sale is one thing. Preparing your parents for this massive change in their lives is another story altogether. Sheryl Maciel, an agent with Woolcott Real Estate (and an Accredited Senior’s Agent), shares her top tips to make this process as easy as possible for all involved!
Looking for a compassionate and knowledgeable Realtor®? Learn more about the entire Woolcott Real EstateTeam right here.
Patience Is Key
When someone chooses to move out of their family home when they’re older, it is usually a very emotional time for them. The longer they have lived there, the more bittersweet the prospect becomes. However, it doesn’t have to be a negative experience. One of the keys for a seamless and happy transition is to look forward to the next step instead of dreading it.
For an elderly family member, the idea of giving up mobility, independence and all of the memories that they have in this home can be a major obstacle. Your first step is to get your parents to look to the future, not to the past. Remind them of how much more time they’ll have to enjoy their families instead of caring for a family home. There may even be funds left over from the sale to take that dream vacation they’ve always wanted.
A great deal of care and patience will help your parents with their downsizing experience. Whenever possible, give them the time they need to decide on their next move. If they need to look at old photos and reminisce, allowing them to do so in their own time will make the process easier for all. Discussing the various options for their next home is also key.
Selling a house on someone else’s behalf is one of life’s toughest challenges. The resources below will help you get through it:
- How Do You Sell the House of Your Loved One?
- What Resources Are Available When Selling a Family Member’s House?
- Preparing to Sell Your Parent’s Home
Work With An Experienced Real Estate Agent
Unless you have extensive real estate knowledge and are out there in the market, selling a house can be stressful. For older parents who have owned their home for a long time, the new landscape can seem even more intimidating. Nothing eases this stress like having an experienced professional to take you by the hand and walk you through each stage in the process. Someone there to answer your questions and concerns is invaluable.
Even better, look for an expert who is an Accredited Seniors Agent. These professionals have specialized training to make downsizing as easy and stress-free on seniors as possible. Selling an existing home and buying a new one can be such a sensitive time for everyone in the family. A caring Realtor® steps in as an unbiased third party to help you make logical decisions and to provide the resources and support needed for a streamlined transition.
How do you find the right real estate agent to help you when the time comes? The posts below will give you some insight:
- Fact Vs Fiction About Working With A Real Estate Agent
- Should You Use the Same Agent to Sell and Buy a House?
- 7 Amazing Benefits of Working with a Real Estate Agent
Pricing The Home To Sell
Not knowing how much a house is worth can be one of the biggest deterrents to your parents pulling the trigger and deciding to sell. Current real estate values can seem outrageous to your parents, who likely paid far less when they originally bought the home years ago. You don’t want them to shortchange themselves. At the same time, it’s hard for them to put a monetary value on the place that they have loved.
Once again, an experienced real estate agent can help. They will sit down and share comparable sales to help determine what the home should be listed for. They’ll make sure your parents base their decision on logic and current statistics. Once you have an idea of how much the house is likely to earn in the current market, you can look to future plans that are affordable.
If you want to earn the maximum value from the sale of your parent’s house, few things matter more than accurate pricing. For more information, read What’s Your House Really Worth next.
Prepping For Sale
With all of this background research behind you, it’s time to actually get the home ready for the market. Many visual deficiencies in the home can easily be fixed, which will make the listing more appealing to potential buyers.
This can include some painting, steam cleaning carpets and giving the home a very deep clean.
Disruptive renovations are likely not necessary, so there’s one less thing for you and your parents to worry about. Instead, you can focus on decluttering and removing personal effects, such as family photos and souvenirs. This can be an emotional step, but it’s imperative so potential buyers can visualize themselves in the space. Finally, work with a team that incorporates staging into their process as it will help modernize the home and get it photo ready.
If you don’t have time or energy to spare, the resources below will help you keep it simple without sacrificing results:
- Do I Really Have to Update My Home Before Selling It?
- Minor Upgrades, Maximum Results
- The Power of Staging When Selling Your Home
Going Live With Marketing
Your agent will handle the details of putting the home on the ML ® and marketing the listing to potential buyers. During this time, your parents will need to keep the home show-ready, which can be emotional and exhausting for seniors.
Your real estate agent can have a chat with you and your parents to discuss the various options to deal with this disruption in their routine. For example, perhaps they can stay with a relative while their home is on the market.
Alternatively, a friend or family member might take them out for a coffee so they can relax and socialize during appointments. No matter what, our goal is to make the selling process as easy as possible at every step.
Do you want more information on helping your parents or an elderly family member get their home ready for sale? You can reach our team right here or call 905 332 9223 to talk to one of our top agents in Hamilton & Burlington today.
