Welcome to Rethink Retirement. A monthly blog series where I will explore different topics related to all things retirement. Each month I will answer questions and provide insight into this exciting and sometimes challenging time in your life.
For this month’s Rethink Retirement blog, I had the pleasure of sitting down with Keisha Telfer, Broker of Record & President at Transitions Realty. I first connected with Keisha in 2020 and we instantly hit it off. We knew after that first phone conversation that we would be well suited to compliment each other’s businesses and areas of expertise of downsizing and retirement coaching, respectively.
Here’s how our interview went.
Tell us about Transitions Realty. How is your brokerage different from others?
We started Transitions with one goal: to make a difference in the lives of older adults. Transitions is dedicated to ensuring that people 50 and older downsize into a home and community that’s right for their current and future needs.
Traditional real estate is transactional—in other words, focused on selling your home and buying a new one. Our model is transitional, which means we recognize that people are moving into a new chapter of their lives, and we’re here to guide them through this big change. We see downsizing real estate as a major life transition—hence our name.
Why and when do people downsize?
Typically, our downsizing clients fall into one of three categories:
- They’re empty nesters whose kids have moved out.
- They are retired and want to find purpose, carve out a new identity or give back to their community. In such instances, they often transition to a 55+ community, cottage country, or a place where they can volunteer or even start a second career.
- Their home no longer fits their needs because of a change in their health or mobility or, sadly, because their spouse has passed away.
When people downsize in their mid-fifties or early sixties, they tend to move to 55+ communities, cottage country or abroad.
When older adults transition because of health or safety, they tend to move into a retirement residence. Retirement residences offer an array of living options including the following: independent living, independent supportive living, assisted living, memory care, and long-term care.
Is there a process to make the transition easier?
At Transitions, we understand that downsizing is a complicated and emotional process.
What makes this process easier for our clients is our “Downsizing Done Right Program”—an easy-to-follow, step-by-step plan for decluttering and selling their house and moving into a new home that allows them to age in the place that’s right for them.
We focus on the core areas that older adults typically struggle with when making their transition. These are: “Identity,” “Finances,” “Decluttering” and “Home and Community.”
However, for adults who are transitioning into a retirement residence, we’ve noticed that “Health and Care” needs are a major concern and often trump “Identity.”
Of course, family and friends play a major role. Some older adults want to move closer to their adult kids and grandkids, while others want to move to the same community where their friends now live.
While the process is complicated and unique for each person, our program is designed to simplify it as much as possible and to guide people forward.
What are some of the challenges that you’ve witnessed when people start to think about or go through the downsizing process? And what have you found works best for this process?
Our best advice is to start early and get help.
What we see time and time again is that older adults need help to downsize and they don’t want to burden their adult children. On the other hand, the adult children feel guilty because they don’t have time to help their parents.
This results in no action being taken until it’s too late. Then one day, Mom has a fall or Dad has hip surgery. This leaves everyone scrambling. Too often under these circumstances, decisions are made in haste, and the outcome is less than ideal.
Clients have often come to us for help when the outcome they hoped for doesn’t pan out. It’s better to get a head start by beginning the downsizing process early. By working with downsizing experts, you get the guidance you need to plan the next stage of your life.
Often at the end, our clients say, “I wish I had done this sooner!”
What advice can you provide to our readers who might be considering downsizing in the near future?
One of the most common statements we hear from people considering downsizing is “I don’t know where to start.” That’s because downsizing can be overwhelming. We recommend that you take a step back, consider your needs and make a plan.
Remember, you don’t have to go it alone. There are professionals who can help you with your home downsizing transition.
If you would like to connect with Keisha, you can reach her either by email or phone. She would be happy to assist with all your downsizing needs.
Website: https://downsizingexperts.ca/
Email: info@transitionsre.ca
Phone: 647-948-7415
Downsizing can be overwhelming. And so can retiring. There are professionals who can help you with these transitions in life.
If you find planning overwhelming and not sure where to start, remember you do not have to do this alone. Reach out to me anytime if you need a little help or simply have a question. My purpose is to see you live your best retirement life!
Jennifer Rovet, CPRC
Retirement Coach
Retire Ready Canada
retirereadycanada@gmail.com
www.retirereadycanada.com
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