Supporting Older Homeowners in a Challenging Market: Karen Mulvaney Property’s Commitment to Downsizers

At Karen Mulvaney Property, we are privileged to work with homeowners at various stages of their lives, including older clients who are looking to downsize. Many of them have lived in their homes for decades, raised families, and created countless memories in those spaces. As they approach retirement, they often look for smaller, more manageable, and cost-effective homes to suit their changing needs. But despite their best intentions, they face an uphill battle – a housing market that offers them little in the way of suitable alternatives.

The Downsizing Dilemma: No Suitable Homes on the Market

For many older people, selling a larger family home makes perfect sense. The maintenance is often too much, the costs too high, and they simply want something more manageable. Yet, what should be a straightforward process becomes an ongoing frustration because the market doesn’t cater to their needs. Finding the right property is like searching for a needle in a haystack – there simply aren’t enough options available for downsizers.

We are constantly seeing older homeowners stuck in limbo. They want to sell their current property but are left with the daunting prospect of where to go next. Affordable, practical homes are few and far between, especially in areas where they’ve spent their lives. They don’t want to uproot to unfamiliar places just because there’s nothing available locally.

The Government Must Step In – Housing Policy Failing Our Elderly

It’s no secret that the Irish housing market is in a state of crisis, but when it comes to supporting older homeowners, the situation is even more dire. The government, frankly, hasn’t a clue about what’s happening on the ground. We are facing an ageing population, and while the desire to downsize is strong, there is simply no action being taken to create the homes that older people need.

Instead, they are left with unacceptable choices: renting from a vulture fund at an extortionate monthly cost or staying in homes that no longer suit their needs. For most, renting is not an option. Older people, especially those in retirement, deserve stability and security. They don’t want to spend their golden years worrying about rent increases or being forced to move again in the future.

It’s high time the government took concrete steps to address this issue. More targeted housing policies need to be developed, particularly around creating affordable, smaller homes that cater to the older population. Without this, we are leaving our elderly at the mercy of a housing market that simply doesn’t work for them.

At Karen Mulvaney Property, We Are Here to Help

Despite these market challenges, we remain fully committed to supporting our older clients in every way possible. We understand the deep frustration they feel as they try to navigate the downsizing process. The lack of suitable properties is a real problem, but we work tirelessly to find solutions, advocating for their needs and exploring every available option.

Our team takes the time to listen to each client’s unique story, understanding the emotional and practical aspects of downsizing. We work with them to sell their existing property, ensuring they get the best value possible, while also looking for alternatives that fit their lifestyle, even if it takes longer than expected.

But we know that more needs to be done. We cannot fix the housing market on our own. It requires a coordinated effort from the government, developers, and policymakers to create housing options that work for all stages of life, particularly those in retirement. Older people shouldn’t have to compromise their security or quality of life because the market doesn’t provide what they need.

The Call for Change

The housing market is clearly broken, and while we will continue to work tirelessly for our clients, the lack of suitable options for older homeowners must be addressed at a national level. The government needs to step up, recognise the housing needs of our ageing population, and put in place policies that encourage the development of affordable, suitable homes for downsizers.

Until then, Karen Mulvaney Property will continue to be the trusted guide for older homeowners who deserve better. We are dedicated to making their downsizing journey as smooth as possible, even in a challenging market. But the clock is ticking, and it’s time for real change that supports the dignity, security, and comfort of our elderly population in their retirement years.

Karen Mulvaney

Karen is well-known and respected within the property industry, with over 20 years’ experience, and specialises in the Sale and Acquisition of residential property.

Thursday, October 24, 2024 in News & Highlights