**Caring.com is a wonderful resource on this topic https://www.caring.com/
As home owners age, they often consider downsizing, but selling a home that has been a family's sanctuary for many years can be emotionally challenging. However, there are many benefits to selling a home as a seasoned citizen.
One of the main reasons seniors sell their homes is to simplify their lives. A large home can become too much to manage as people age. Health concerns can make it difficult to maintain their property, or they may simply want to reduce their workload. Downsizing to a smaller home or condo can be an excellent solution, allowing these retirees to free up time and money.
Another benefit of selling a home as a senior citizen is the financial gain. A home that has been owned for many years can be a valuable asset. By selling, seniors can use the money for a variety of purposes. They may choose to invest the proceeds, use them for travel or other retirement activities, or put them towards medical expenses or long-term care.
In addition to simplifying their lives and gaining financial freedom, seniors may also benefit from selling their homes to move closer to family or friends. Many retired seniors want to be closer to their children or grandchildren as they age. By selling their homes, they can move to a location that allows them to spend precious time with their loved ones.
Finally, selling a home after retirement is often the start an exciting new chapter in life! Many seniors use this opportuity to finally move to a location they have always dreamed of, a newer home that doen't need any repairs, or a home in a community that has neighbors the same age and offers activities and amenities that they enjoy.
Selling the family home can be a very emotional decision, but it can also be a wise one. The benefits of downsizing and simplifying life, gaining financial freedom, moving closer to loved ones, and starting a new chapter are just a few reasons why seniors may choose to sell their homes.