A senior who has lived in a two-story house for over 20 years recently requested a consultation. The reason was simple. Climbing stairs to go to the bathroom at night had become increasingly burdensome. The house is still sturdy, and the yard is spacious, but the body can no longer keep up with the stairs. In such cases, the first question that arises is what type of home would be better to move to.

Seiboy is located in the Champaign-Urbana metro area, making it relatively easy to find single-story condos or townhomes. Currently, the median home price in Seiboy is around $424,950, with reports showing it ranges from $410,000 to $435,000. The median sale price for condos is $230,900, which has increased by 16.4% over the past year, rising from $210,000 to $244,500. This means there is nearly a $200,000 difference compared to single-family homes, allowing for a significant amount of savings just by downsizing.

So how will the monthly expenses change? This area is served by Ameren Illinois for electricity, and the base rate applicable from June to September 2026 is 11.33 cents per kilowatt-hour. Based on the Champaign area, if one uses 1,000 kilowatt-hours per month, the total cost for supply, transmission, and distribution is estimated to be around $168.22. Moving to a condo will naturally lower this amount as the area decreases. However, it is important to keep in mind that condos or townhomes come with HOA fees, so the savings on electricity may be offset by increased management costs.

What about taxes? The average effective property tax rate in Illinois is among the highest in the nation, ranging from 1.88% to 1.92%. If you are over 65, you can receive an $8,000 exemption from the assessed value through the Senior Citizen Homestead Exemption, and if your income is low, you can prevent any increase in assessed value with the Senior Freeze Exemption. These two programs are available not only in Cook County but throughout Illinois, including Champaign County.

When is it better to maintain a single-family home? If stairs are not an issue and you still enjoy maintaining the yard, there is no urgent need to move. Conversely, if managing stairs or a large yard has become a burden, moving to a condo or single-story townhome may be a better choice, both in terms of potential profit from the sale and daily convenience.

In addition to condos, active senior communities, which are single-story residential areas for those aged 55 and older, can also be a viable alternative. These communities are often designed without stairs and handle outdoor tasks like lawn care and snow removal within the management fees. However, the sale prices can be somewhat higher than regular condos, so it's essential to consider both the initial investment and ongoing monthly costs. Areas like Seiboy, near university towns, tend to have steady rental demand, leading some to weigh the option of renting out their current home instead of selling. However, rental income comes with separate tax reporting obligations, so it's advisable to consult with an accountant before making a decision.

The senior who initially requested the consultation ultimately decided to move to a single-story townhome after viewing several listings over a few weeks. The main reasons for the decision were the ability to access the bathroom without stairs and the convenience of having snow removal included in the management fees. While maintaining a single-family home may seem advantageous in terms of asset size, the value of daily convenience cannot be fully quantified in numbers.

Since tax rates and HOA regulations can vary by state and county, please verify the tax details and management fees for actual listings separately. The market prices and fee information in this article are based on the time of research and do not constitute investment or legal advice. If you are planning a move, it is recommended to consult with both real estate and tax professionals.