SRES cheat sheet

The 50-plus market is commonly segmented into three life stages - go-go (roughly 50–74), slow-go (roughly 75–84) and no-go (85-plus) - and housing priorities shift at each stage.

Frequent move motivations: proximity to adult children or grandchildren, single-level living, reduced maintenance, health-care access, social connection, climate and cost of living.

Many 50-plus buyers are repeat, equity-rich purchasers; a meaningful share pay cash or make large down payments and will trade size for layout and location.

Home equity is often the largest household asset; owners who are equity-rich but income-poor may need sale proceeds, downsizing, or a reverse mortgage to fund a move.

Decisions are frequently shared with adult children, financial advisors, elder-law attorneys and physicians; ask the client's permission before involving others.

Trust and referrals drive this segment more than mass advertising; planning horizons typically run from several months to several years before an actual move.

Avoid ageist language: ask how the client prefers to be described, use larger print and plain language, and confirm comprehension without a condescending tone.

Age may be used as a marketing or eligibility factor only in qualified 55-plus or 62-plus housing under HOPA; otherwise steering or excluding by age violates fair housing law.

Multigenerational and boomerang households create demand for main-floor bedrooms, a full bath on each level, and separate entries or privacy zones.

Common move triggers, often called the five Ds: downsizing, death of a spouse, divorce, disability or disease, and distance from family.

Rightsizing is not the same as minimizing: the goal is matching layout, maintenance burden and location to current and anticipated needs.

A typical planning horizon is three to six months; health-driven urgent moves can compress to weeks, so contingency plans and standby resources matter.

Dispersal options include estate or tag sales, auction, consignment, charitable donation, gifting to family and haul-away - each with different speed, cost and financial return.

A senior move manager, often credentialed through NASMM, coordinates sorting, packing, movers, floor plans and setup; fees are usually hourly or project-based.

A seller may exclude up to $250,000 of gain (single) or $500,000 (married filing jointly) on a principal residence owned and used as such for two of the last five years.

A reduced maximum exclusion is prorated when the move is driven by health, a change in employment or an unforeseen circumstance.

Bridge financing, a reverse-mortgage line of credit, or a securities-based loan can fund a purchase or CCRC entry fee before the current home sells.

Planning a 'last-time move' should test what happens if needs escalate: can care be added at the destination, or would another move be required?

HECM reverse mortgage: the borrower must be 62 or older and occupy the home as a principal residence, and must keep paying property taxes, hazard insurance and maintenance; failure can trigger foreclosure.

HECM proceeds depend on the youngest borrower's age, current interest rates and home value - younger borrowers receive less - and the loan is non-recourse to the borrower and estate.

HECM for Purchase allows a buyer 62 or older to buy a new principal residence with a large down payment and reverse-mortgage financing of the balance.

Capital gains exclusion on a principal residence: $250,000 for single filers, $500,000 for married filing jointly, subject to the two-of-five-year ownership and use test.

Inherited property generally takes a step-up in basis to date-of-death value under IRC 1014, which often makes holding until death preferable to gifting during life.

Required minimum distributions from traditional IRAs and 401(k)s begin at 73 for those born 1951–1959 and at 75 for those born 1960 or later; Roth IRAs have no lifetime RMD for the original owner.

Social Security full retirement age is 66 to 67 by birth year; delaying from full retirement age to 70 raises the benefit about 8% per year, and survivor benefits can exceed the decedent's own.

Medicare begins at 65 with a seven-month Initial Enrollment Period; Part B and Part D premiums carry IRMAA surcharges based on modified adjusted gross income from two years earlier.

Retirees lacking paycheck income may qualify using Social Security, pension or annuity income, an asset-depletion calculation, or reverse-mortgage qualifying guidelines.

Aging in place is the stated preference of most older adults and usually requires modifications such as zero-step entries, grab bars, curbless showers, lever handles and improved lighting.

CAPS (Certified Aging-in-Place Specialist) is a NAHB credential for remodelers and allied professionals who adapt homes for age-related safety and accessibility.

Under HOPA, housing qualifies as 55-plus when at least 80% of occupied units have one occupant aged 55 or older, permitting exclusion of households with children under 18.

The CCRC ladder runs independent living, then assisted living, then skilled nursing or memory care on one campus; contracts are typically Type A (life care), Type B (modified) or Type C (fee-for-service).

CCRC entry fees may be fully refundable, partially refundable or non-refundable, sometimes declining over time; refundability provisions materially change the financial comparison.

In fee-for-service contracts monthly costs rise with the level of care; life-care contracts cost more up front but stabilize monthly fees as care needs increase.

Medicare covers short-term skilled nursing after a qualifying hospital stay but not custodial long-term care; Medicaid funds long-term care only after eligibility and spend-down rules are met.

Social risks of relocation include isolation and relocation stress syndrome; proximity to medical care, transportation and existing social networks are key selection criteria.

VA Aid and Attendance is an enhanced pension for wartime veterans and surviving spouses who need help with daily activities and can offset in-home or facility care costs.