4 Needs of Seniors When It Comes to Real Estate

The American population is growing older. What this shift in age means for the real estate industry is there will be a lot more men and women in their 50s, 60s and 70s needing help with the buying and selling of homes.

Understanding this, the National Association of Realtors® offers the designation "SRES" which stands for "Seniors Real Estate Specialist." Real estate professionals with this designation have received certified training with the senior in mind.

So what are some of the unique needs of seniors when it comes to real estate? Charles Feldman in his post on the walletpop.com blog does well to answer the question. I've included his insight in the following list...

4 Needs of Seniors When It Comes to Real Estate:

1. Right sizing needs. Going from a larger to smaller home offers unique challenges.

2. Location needs. Is the new home close to shopping, medical facilities, recreation/entertainment, etc.?

3. Money management needs. Are there special tax laws that can be taken advantage of? Will a pension, 401k or IRA come into play?

4. Emotional needs. Care required as they're saying goodbye to a past home with so many memories.