Some things to consider if you are a senior wondering if it is time to sell your home
Traditional sellers are once again dominating the market (over 90% in May), driving prices up and making more people wonder if it is time to sell and move on. Houses such as the one below that had only one owner since it was built in 1954 are often considered to be real 'finds' by young home buyers. When we listed the one below this spring, the family had 13 offers to review!!
If you are a senior, here are some reasons that can indicate it is time to sell your home...
- Home maintenance becomes a burden
- A major life event
- Wanting to live closer to adult children or other caretakers
- Financial concerns make it difficult to keep up the home
- Support services are needed that are not available at home
In addition to these practical reasons, another big reason is a personal, social one... when it is difficult to get out, your long-time friends are gone, and you are finding yourself isolated in can be time to move to create a new circle of friends. Moving to an adult-supported community can actually bring back your independence and social life.
But before making the final decision, here are some things to consider...
- Is moving the best alternative? If so, where? Have you explored other options?
- Are close family members on board with your decision?
- What is the best way to downsize your lifetime collection of possessions and family heirlooms?
- What are the tax-related implications of a sale?
- What effects might a sale have on future income?
We work with individuals and families in all stages of life housing transitions and would love to help guide you through the process. Whether you are downsizing to townhouse or condo, cross-sizing to a home more suited to hosting children and grandchildren as a gathering place, moving to a senior-supportive community or a situation created for you, consider making the move while it is still your decision rather than dictated by outside forces... so you are able to embrace and enjoy your new home and community.
Sharlene Hensrud, RE/MAX Results - Seniors Realtor
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