First-time home buyers typically have different needs than retirees do when looking for a home. First-time homebuyers are often looking for an affordable starter home, suitable for beginning a family or transitioning into adulthood.

In contrast, many retirees are looking to downsize. Most moved from their starter home to a larger house as their family and income grew. But now that the children are grown and gone and the budget may have shrunk, downsizing is often the goal.

Having a buyer's real estate agent who understands the needs of a growing aging population can make the home selling and buying process easier. Here are three reasons why choosing a senior real estate specialist may be right for you.

A Senior Real Estate Specialist Has Expert Training

Because the needs of an aging population are unique, the National Association of Realtors recognized there was a need for real estate agents who understood those needs. Rather than focusing on just trying to make a sale, a senior real estate specialist helps the clients they work with determine what their needs are and what path makes the most sense for their individual unique situation. For example, perhaps staying in the family home is the best decision, but changes need to be made to the structure that safely allow for aging in place. Or perhaps rather than buying another home, moving to a condominium in a retirement community that offers in-home health care services is the best option. A senior real estate specialist can help you sort these things out.

They Understand Financing Needs

First-time home buyers have plenty of loan programs that cater to them. For example, there are loans for people who may not have the traditional 20 percent downpayment, people who have a low income, or veterans who have separated and are looking to settle in one place.

Seniors may face difficulty obtaining a traditional 30-year mortgage from a lender. There are also tax considerations as well as understanding how cashing in a retirement policy to buy a home could affect your finances long-term.

Reverse mortgages are another option to consider in some situations, but it is not a solution for everyone. A senior real estate specialist is aware of the different financing options available to retirees and the benefits and disadvantages of each.

They Have Connections

Many seniors are unaware of the many different options they have and the agencies that can help them. A senior real estate agent is familiar with many different types of service providers, from specialists who make bathrooms safer to adult care facilities that provide respite service. A senior real estate specialist will help their older clients get the assistance they need.

Contact a senior real estate specialist in order to learn more.