If you missed it, here was the Zoom webinar about aging in place or deciding to move from the family homestead that Colin Healy and I did on Friday July 10. We walked through ways to get the most out of your current home in order to stay there safely for our latter years AND get more out of our homes. Then, when it’s time to make a move, what are some of the things to consider and what can we be doing now to prepare for when we may not be able to be in the house we raised our families in?
For follow up you can reach out to Colin Healy or myself Brian Sherwood.
Colin Healy Design, LLC
107 Floral Way Stratford, Connecticut 06615 firstname.lastname@example.org
Founder Generation Bridge and Real Estate Salesperson with Coldwell Banker
Here’s the link to the video: https://youtu.be/4b0IHQu6wMc
Real Estate Market is Good For Now
This article in the Epoch Times walks through a hot May in real estate in the US. Our office in Trumbull, CT saw a similar spike and homes are selling well. The market has limited inventory right now so homes are selling pretty quickly too as people emerge from the sheltering in place orders and decide they want more space, privacy and options. Plus financing is available at great rates.
However, the enthusiasm does need to be balanced against very real concerns about the economic impact and potential recession driven by pandemic job losses and shut downs. If homes start to fall into foreclosures then market values would likely decline. If rents aren’t being paid, then more landlords might end up in foreclosures as well.
So it’s a good time to sell, or put your toe in the water. But if you’re buying as an investment, asset value in the short term could be a bit sketchier. On the other hand, buying for long term holding or occupancy to meet your new post pandemic needs makes sense, especially with low rates.
Considerations with Elder Caregivers for Grandchildren
When schools reopen, there may be some people that have to evaluate the decision to send kids back to school with others. Grandparents who take care of their grandchildren (full time or part time) are more at risk for complications from Coronavirus. Therefore, when kids go back to school it can mean a greater chance of exposure for a group of people more at risk.
Homeschooling may be a better option for some. As many as 2.4 million kids in the US live in households headed by grandparents. While some commentary reflects on criticism about pressure to open, but there are also real pressures for younger parents to be less divided with their time and responsibilities. There isn’t any real clear guidance at the government level but that’s not a bad thing. We innovate more when choices are left to be made at the individual level. With that, many different communities will be experimenting, succeeding and failing. From that, “real” best practices will emerge and we’ll be better equipped for challenges like this in the future.
I like how the interviewee was honest about the difficulty of the choices that caregivers are making. The dynamics are not black and white. They are filled with so many nuances and the families need to make educated decisions about what’s right for “them.” Choice and freedom to operate on our own should be something We value.