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Facing Lifestyle Transitions

Guestpert : Toni Patillo Category : Real Estate Tags : transformation, change, Housing, Senior Housing

Ms. Patillo is the Principal and Broker for Toni Patillo & Assoc.’s, a Residential & Commercial Real Estate Company whose expertise is in the liquidation of properties for people who are selling due to particular circumstances. Leading her own sales team, in standard sales and purchases, Toni Patillo & Associates has a specific niche in Senior Transition sales, Probate, Trust sales, Bankruptcy, Divorce, Short Sales, and Pre-Foreclosure liquidations.


Facing Lifestyle Transitions

How we handle life transitions spiritually, emotionally, mentally, and financially sets us up for the next phase of our lives. 4 things we need to consider:  

Downsizing from a single family home to a condo

~Make sure it’s single story – It is best to avoid multiple stories and stairs / ideally no townhomes

~If the older adult is still driving be conscious about the location of the parking garage and try to  negotiate the location of the parking space to be as close to the unit as possible. 

~If the property is owned and not a rental, be sure that it’s in a Trust to protect the asset and avoid probate which will provide clarity for loved ones who will be managing the estate and for those who are beneficiaries.  

~Do a thorough evaluation prior to acquiring the unit to determine what modifications may be needed to accommodate someone’s overall health requirements and safety precautions.

~Universal Design Considerations – Consult with a contractor who specializes with Universal Design for any modifications they may recommend or suggest based upon the needs of the older adult. Universal Design incorporates such elements as stepless entryways, wider doorways, lever-style handles on doors and faucets, multi-level or adjustable task areas, grab bars in bath areas, easy-access drawers and storage, and other features that improve ease and comfort as well as accessibility.

~Universal Design: A Step toward Successful Aging  

Empty Nest Syndrome People want their children to grow up and lead independent lives. Yet parents often feel lonely, sad, and filled with grief when their children depart. Empty nest syndrome is not a clinical disorder or diagnosis. It is a transitional period in life that highlights loneliness and loss. Parents want to encourage their children to grow into independent adults. However, the experience is often bittersweet or emotionally challenging. Here are 5 things to consider if you are dealing with Empty Nest Syndrome:

~Identify and spend time with hobbies

~Engage in Philanthropy

~Travel

~Develop new friendships, or re-kindle old friendships

~Identify a new career or education goals.

Death & Divorce – Divorce isn't just for middle age anymore. Studies show that “gray divorce” — marital splits among senior and nearly senior citizens — is increasingly common. When seniors divorce, it tends to be less acrimonious, and, with people living longer, they don't want to spend their retirement years in an unhappy union. If your ex-spouse has died, you may collect social security survivor’s benefits, which follow different rules than those for a living ex-spouse.

 ~Consider seeking therapy

~Financial impact on the spouses – parties should seek financial guidance, direction and resources so they are able to

~Identify and spend time with hobbies,

~Engage in Philanthropy

~Travel

Geographical Move

~What are the motivations for the move? Make sure all family members are clear about the long-term objectives. Is the older adult moving to be closer to family who can participate in the care of the older adult’s later years?

~Be certain that weather conditions complement the medical and health needs for the older adult

~You may want to consider not moving an older adult too far away from their medical professionals

~The older adult may wish to Age In Place – not necessarily staying in the same home, but staying in the same community, which remains familiar. Staying to close to church activities, friends, movie theatres, restaurants and family

~Critical to stay physically ACTIVE