The five categories of senior sellers and what they may need.
Why do longtime homeowners decide to sell? Today I’m sharing the five main reasons why those in the 55+ market might want to sell their homes:
1. Amenity seekers. These homeowners don’t necessarily need to sell, but they want to because they’re looking for something different than what they currently own. They may want something newer, larger, smaller, something with less property that’s easier to maintain, etc. These sellers will do their research and want the best bang for their buck.
Each category of sellers has different needs and desires, and you want to cater to those.
2. Planners. Like the previous category, they don’t necessarily have to move, but they’re beginning to look at what may lie on the road ahead. They may be foreseeing healthcare needs, have a strong desire to be closer to family, etc., and want to plan ahead for that. These sellers are anticipating a positive move, and focusing on what they’ll need in the future.
3. People who have needs. These sellers already have specific needs they must consider. For example, taking care of a yard may have become too difficult, or they might have a disability that makes household chores more challenging. These sellers are likely looking for something maintenance-free.
4. People in a healthcare crisis. These are people who have had some sort of health event that requires them to have more support. Maybe this seller has been in the hospital and can no longer stay in their house, or they have decided they need to live with family or in a healthcare community. These homeowners aren’t necessarily selling because they want to but because they must. This could be a more difficult transaction.
5. When someone passes away. The house needs to be emptied and the family or personal representative needs to liquidate the property.
We look forward to answering any questions you have about this or any other senior real estate topic. Just reach out to us via phone at (512) 842-6011 or email us; we’d love to help you.