The following article appeared in The Rochester Business Times on Wednesday, Dec. 4, 2024. The author is Kevin Oklobzija.
ROCHESTER, N.Y. – The idea of downsizing after decades in the same house can be daunting, but it’s almost always necessary when seniors are moving into a more age-in-place-friendly home. How do you decide what to keep? How do you know what will fit in your new home? Is this really the best time to sell?
“The process can be overwhelming,” said Cathy Bianchi, vice president and sales manager and a licensed real estate broker at Howard Hanna Real Estate Services.
That move might entail a one-story ranch house. Or perhaps a senior apartment community is the preference. Maybe assisted living is the choice. Each option probably means that everything in the current house won’t fit in the new living space. Thus, there are difficult conversations about what to keep and what to pass on to family members or sell. “Just because it’s something valuable doesn’t mean it translates to your new life,” Bianchi said. “But if it’s something you want or love, then keep it.”
The downsizing program includes resources for liquidating collectibles. There also is an approved Home Pros contractor network to tap into should house repairs or minor upgrades be necessary to ensure maximum value once the For Sale sign goes up. “We work with vendors who specialize in downsizing,” Bianchi said.
The program also maps out a sales timeline. When is the right time to sell? “We know inventory is low but are (interest) rates affordable enough for buyers to be aggressive?” Bianchi explained.
Senior centers and senior organizations in the Rochester area have reached out to Howard Hanna about scheduling a seminar, she said. “But we’ve also had requests from people who want help selling their parents’ house.”
What isn’t always understood by homeowners: “Downsizing is a process,” she said. “It can take six months to a year for some people to wrap their head around it. So, we try to ease some of the fears and provide that path.”
Howard Hanna hopes that by making the downsizing process less overwhelming for homeowners, more houses will be listed. “We see what happens when everybody’s in a holding pattern,” Bianchi said. But the program, as with any good homeowner-agent relationship, is more than just one facet of a real estate transaction. “It’s not about selling the home,” Bianchi said, “it’s about making them feel comfortable.”
