Downsizing, To Move or Not to Move? That is the Question

Thank you, @rosemary for raising this important question. Like, Dana, I've been exploring for the past 2 yrs, the concept of downsizing and moving into an independent sr living estbl. near my daughter and family out-of-state. I also own a spacious home and while I can still manage the upkeep and regular maintenance required, more of my circle of close aging friends are facing similar deliberations and several already have moved, some to be closer to immediate family and others because of the need for more supervised care.

The question for me is timing. Would it be better to sell and move while I still have some wits about me and can take care of the decisions required in listing the house, arranging an estate sale, selecting the next residence or do I wait because my cost of living, maintenance and lack of state inc. tax makes it financially more feasible to stay put awhile longer. I bought long-term care ins. yrs ago and have been so fortunate that the premium has only gone up once and that to a small degree.

If I wait until I have fewer wits about me...which might not be long! vbg...my daughter would be ever so capable in handling what had to be done. However, I still vividly remember the difficulties I lived when handling my mom's later daily care and medical needs, home maintenance & repairs and later estate issues while living out-of-town. Living out-of-state would have only compounded the issues requiring action.

My longest divorced friend here of 40+ yrs recently began building a new home out-of-town to be near her children and grands. The new house is under construction; most of her belongings and furnishings for the new house have been moved and and placed in storage in the new location. Having completed her estate sale with her house listed for sale, she now is finding that there is almost a freeze on residential house sales in this area.

Now, with the spread of the virus especially hitting the senior living and nursing home establishments, I can only be thankful that I have waited on my decision. However, time does not stand still and my mental debate over timing continues.

I would really like to hear how others are thinking about downsizing and starting to plan ahead.