There are several tell-tale signs over the years that will suggest your parents are coming closer to the time when they can no longer live comfortably in the family home.
The garden might go untendered, the leaves might stay in the pool, the guttering is clogged, or your parents find it hard to get up and down the stairs.
Tackling the topic of downsizing can be difficult and requires gentle, diplomatic language. The idea of leaving the family home and throwing out possessions accumulated over a lifetime is unthinkable to many in their advanced years.
They’ll have their habits and will likely be comfortable in their familiar surroundings. But that doesn’t mean that it’s not time for your parents to start thinking about downsizing, or even moving to a retirement village.
Here are five recommendations for how you might approach the topic. Every family situation is different and these are general guidelines only.
- Communicate openly – Be empathetic but stay positive about the idea. Downsizing is about creating space for new adventures, or to explore new hobbies. You’ll find this a more successful approach than telling them the stairs have become too steep, or they’re too old to maintain the garden.
- Ask questions – Listen to your parents’ concerns. You might find they’re reluctant because they’re unsure of the process, the financial impact, or they fear the upheaval that goes with downsizing. Often, folks are scared of losing their independence. So, please pay attention to their concerns.
- Be patient – This is not a one-conversation topic. It would be best if you gave your parents time to get used to the idea. That might be several months, even a year or so. If you’re lucky enough, you might sit down with your parents and make a five-year plan on how they should transition from the family home.
- Explore alternatives – Work with your parents to see what alternative accommodation makes sense. Is it wise to move to a smaller house, an apartment, or would they feel happier going into a retirement complex now?
- Seek advice – Use your financial planner or accountant, as well as a trusted real estate agent, to look at the array of options open to your parents. Financial security will be fundamental, of course. They will feel more reassured if you secure the buy-in of professionals.