To seniors, their homes are significant both financially and emotionally.
“… home is more than just a place they live. It represents their journey, their accomplishments, their family, and the life they have created,” says the American Advisors Group’s (https://www.aag.com/homesurvey/p/1) “Importance of Home Survey.”
In addition, older Americans feel safe at home and value their independence.
Those are good things to keep in mind when working with seniors who may be downsizing or moving to an assisted or independent living environment reluctantly.
After all, 92% of seniors said they’d prefer to live in their current home instead of moving to an assisted living facility. The Covid-19 pandemic has only solidified seniors’ desire to stay home.
On the financial front, more than half (55%) of seniors in the survey are on good footing and have paid off their homes and live mortgage-free.
Seventy-three percent of seniors say their home is now their most valuable asset, with 74% saying that buying a home was their best financial decision.