Making the “Big Move” to be Close to Family: Is It the right Plan?
I have loved my real estate “career” for twenty years, but I do become sad. The hardest thing is saying goodbye to my clients/friends who move to a new area or state. I miss you guys! You know who you are!
I get it! You need to be close to the family who need you close. Before you list your house with Link and make your move, please consider a few red flags you’ll need to address.
Lifestyle and Your Personal Requirements
Personal Privacy: Are you ready to go from “Empty Nester” to potentially “Full Nester Plus.” We need our privacy. Does this mean you will be on permanent standby for babysitting and just being there? How much “You Time” do you need? Have you spoken about realistic expectations with your family?
Bouncing Ball Syndrome (BBS): I hear this story frequently—clients move to be near their family and shortly after their “Big Move,” their children are transferred elsewhere for a job. Bounce! Bounce! Change is already difficult for many of us. How many bounces are acceptable? Have you considered out-of-pocket costs for each bounce? Is this a financially smart strategy?
Infrastructure and Amenities at the New Location: You might currently reside in an area that perfectly meets your needs for infrastructure and amenities. As you consider your move, identify which of these factors are crucial for you in the new location.
Available Medical Options: This is one of the most important factors to consider. Does the new area offer the choices you can’t live without? Are there available medical facilities that are designed for an aging population? Does the community support independent living for mature adults? Are there assisted living options? A 2021 survey by AARP found that 8 out of 10 mature adults want to age in their homes. We like to think we are going to stay physically fit and mentally sharp. Does the new area meet the requirements for “Plan B” alternatives?
Ease of Travel: We may wish to drive indefinitely. We know this is not realistic. Isolation in a new home and area is difficult! It’s important to ensure there are public, private, and future transportation options available in a new community. Please do the research.
Social, Mental, Physical, and Spiritual Balance: One of your key motivations for making the “Big Move” is to be there for your family. As your family grows and begins their lives in their own homes, you need to ensure that you have the amenities you require. Isolation in a new home and area is difficult! Thoroughly investigate your potential new community before you make a change. There are communities that range between the Villages of Florida and the peace and quiet of fictional Mayberry. Where will you find your happiness? Make a list of the key make-or-break factors for moving. Does the new area meet these needs?
Financial Considerations: Moving to the Denver area can come with sticker shock. Moving to Mayberry may also come with sticker shock if you expect to have Denver amenities at Mayberry prices. Not realistic! Please consult your financial advisor and/or accountant to understand tax ramifications for the area you are considering. Please make sure you have adequate financial resources for changes in health, lifestyle, home repairs, and potential family situations.
Legal Considerations: Moving to a new state or area may require you to update wills, trusts, power of attorneys, and more. Probate court varies. Speak to a knowledgeable attorney before making the move to a new area. Your peace of mind and pocketbook may depend on no legal surprises!
Embrace the “Big Move!” Wear your Indiana Jones hat to remind you that life is an adventure, but you might want to leave the whip at home.
We can introduce you to competent and ethical resources to help with your “Big Move.” And please keep in touch. We already miss you!