Seniors should consider their current and future health needs, financial situation, and lifestyle when buying or selling a home. They may need to think about accessibility features, proximity to medical facilities, and the cost of home maintenance and utilities. It’s also important to work with a trusted real estate agent who has experience working with seniors.

Seniors should consider the equity in their current home, their retirement income, and their future housing needs when making real estate decisions. Downsizing to a smaller home or moving to a more affordable area can help reduce expenses. A reverse mortgage may also be an option for those who need to access their home equity. However, it’s important to speak with a financial advisor before making any major decisions.

Seniors should be cautious when working with unfamiliar real estate agents, contractors, or other professionals. They should also be aware of potential scams, such as fake home listings or investment opportunities. It’s important to thoroughly research any individuals or companies before working with them and to never wire money or provide personal information without verifying the legitimacy of the request.

Seniors can turn to a variety of resources for help with buying or selling a home. Local senior centers, community organizations, and government agencies may offer assistance with housing-related issues. There are also real estate agents and financial advisors who specialize in working with seniors. Online resources, such as the National Council on Aging’s BenefitsCheckUp tool, can help seniors find programs and services that may be available to them.