Boomer, how do you know if now is a good time to sell your home?

By
Real Estate Agent with Keller Williams Preferred Realty

Is 2022 a good time to downsize?

Should you sell your Metro Raleigh - Cary home?

It's no secret that Baby boomers (1946-1964) are leaving the workforce to live their best lives according to Forbes. This is one of the best hardest working generations alive. It's also one of the largest generations. Everybody is talking about the Boomers right now!

There's no doubt that boomers are winning in today's economy. Boomers are smart, many are cash rich, they have a place (or two) to call home, they can retire, they're healthier than previous generations, and can sell their home for premium prices.

So, what's the problem?

Some people blame boomers for the housing shortage because they're not selling their homes. Is that fair? Honestly, why does everyone want to blame boomers for everything? I regress.

Most boomer I talk to say they know their house will sell fast and don't have anywhere to go once their house sells. 

What's the solution?

We're successfully negotiating leasebacks so sellers can stay in their house while they get another house. If the buyer plans to live in the house and is getting a loan, those leasebacks are usually about 60 days. If the buyer is an investor or cash buyer, it can be longer.

So now what's the problem?

I don't know where I want to live. Maybe I'll just stay where I'm at now. The New York Times says boomers don't want to let go of their Real Estate. I hear this from a lot of boomers as well and honestly, you worked for that house and you should do what you want. But, do you really want to live in an older home that needs upkeep at this stage of your life? Do you want to move when you're older and it is taxing to pack and declutter? Is it helping you live your best life now?

What's the solution?

Think about the possibilities. What would make your life easier? Many of my clients opt for Over 55 communities while others are moving to maintenance free homes and condos. Some are keeping a small place in town while they work and a vacation home at the beach or in the mountains. The thing is, you can move from the home you're in and it doesn't have to be your last home. It just may be the home you choose for yourself and you enjoy! The interesting thing is, once the over 55 client makes the decision to move, they often feel a burden lifted. I've found they're excited for this new time in their lives. 

Are there any other reasons you don't want to sell not?

Some feel overwhelmed with getting their house ready to sell. This can be especially true if you've lived in the house for a long time. 

What's the solution?

This isn't an uncommon feeling for many demographics and different stages in life. Tackling decluttering, cleaning out, deferred maintenance and potential upgrades can feel like a daunting task. Real Estate agents who specialize in this type of home selling can offer exceptional services to assist in the process. Most agents can at the very least give you a checklist to help you take on these tasks one step at a time.

So, how do you really know if now is the time to downsize?

Think about it, it has never been a better time to sell your home. You can do it with ease. Most homes will sell within 2 weeks and many within a weekend. According to Money, you're uniquely poised to cash in on your big home as a boomer. Look at some of the pre-pandemic headlines and you'll see we went from a time of who will buy the boomers big house to we can't get boomers to sell their big home. I mean, the tides will change and you don't want to get caught in a riptide.

Millennials don't want to buy boomers big homes - 2019

Ok Boomer, Who's going to buy your 21 million homes - WSJ 2019

Study predicts millions of unsalable homes - 2020

So why now?

  • Family - You can move to be closer to your children.
  • Dream Location - You can move to your dream destination!
  • Dream Home - You can get the house you want.
  • Easy Maintenance - Now lawn maintenance and in some cases no exterior maintenance.
  • Weather - You can live where the weather is better for you.
  • Cost of Living - You can live where taxes are lower and maybe home prices.
  • CCRC - Moving to a Continuing Care Retirement Community might be better sooner than later.
  • Amenities - You may enjoy the activities and amenities in an Over 55 community.
  • Equity - You can cash in on your house now while the market is hot.
  • Interest Rates - If you're getting a loan, interest rates are still good but rising.

If you need additional information to help you make a decision about moving or want to meet with me, please feel free to reach out. I specialize in selling homes in Wake County and portions of the counties that touch Wake County. I also have solutions for seniors/over 55/elderly parents who need to sell their home.

Posted by

Raleigh Cary Apex Realtor Carla Freund Realty

Presented by:

Carla Freund of Ask Realtor Carla

Carla Freund Realty Team

Keller Williams Preferred Realty

By Carla Freund Realty Team

Original Home of "Market In A Minute" Real Estate Report for Raleigh Cary CH & Durham Triangle

Carolina Life Real Estate and Relocation

 

Find Carla Freund Realty Team online:

   Ask Realtor Carla on Facebook    Ask Realtor Carla your Raleigh Cary Realtor on You Tube  Ask Realtor Carla your Raleigh Cary Realtor on Instagram  Ask Realtor Carla your Raleigh Cary Realtor on Twitter  

 

Created by Quinky - Freepik.com

Powered by RealBird.com

Contact Carla Freund, Broker, Keller Williams Preferred Realty,  Licensed Realtor® in North Carolina at 919-602-8489 to list your property for sale or to purchase a property in Cary, Raleigh, Morrisville, Apex, Fuquay-Varina, Garner, Holly Springs, Pittsboro, Durham, Chapel Hill, Johnston County, and the surrounding areas.

Now accepting referrals.**Not meant as a solicitation to individuals already working with a Professional Real Estate Agent.**

Disclaimer: The information provided herein is supplied by several sources and is subject to change without notice. The Raleigh - Cary Home Reviews Blog, Keller Williams and Carla Freund does not guarantee or is any way responsible for its accuracy, and provides said information without warranties of any kind, either expressed or implied. Entries on Raleigh - Cary Home Reviews represent the opinions and ideas of the author(s). Raleigh - Cary Home Reviews Blog does not express the views of Keller Williams, or those of the broker.

 

Ask Realtor Carla your Raleigh Cary Apex Realtor

Keller Williams Preferred Realty - Raleigh NC

 

 

Comments (7)

Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Carla,

Your points are great, and your arguments are sound.  However, logic does not necessarily win many.  And that has to be respected above all.  A

Jan 22, 2022 12:18 PM
Carla Freund

I agree A. I have clients every year that just don't recognize the logic. In the end, it is their decision. "You know what they say, You can lead a horse to water but you cannot make it drink". 🐴

Jan 23, 2022 11:50 AM
Tom Bailey
Margaret Rudd & Associates Inc. - Oak Island, NC

Good post! I love the arrogance of the millennials who are upset that my generation will not sell their homes! The homes they worked hard to pay for.Typical of the everybody gets a trophy entitled generation!

Jan 22, 2022 12:20 PM
Carla Freund

Tom, It just shows we need more respect for our elders and for others. ;-)

Jan 23, 2022 11:53 AM
Aura Alex
CloseMyDeal, LLC - Seattle, WA
Need A TC? Virtual TC Services Nationwide

Hi, Carla. This is a fascinating post packed with great ideas and options. As a Boomer myself, I was getting tired of the upkeep of a home and increased ownership costs. So, the thought of giving up the home, which by this time, it felt like an "empty nest" for me, seemed like the smart move.

It has become challenging to find that "final" stop, preferably in a retirement-liked community. Your post offers helpful information to a Boomer like me. Thank you.

Jan 22, 2022 12:38 PM
Carla Freund

Aura, many down-sizers aren't ready for the final stop. These days people may live half or almost half of their lives as an empty nester and/or retiree. I remind them that sometimes it is important to downsize in increments just as you did when you were upsizing. I'm an empty nester and can't see living in an over 55 community yet. Maybe someday. 

Jan 23, 2022 11:55 AM
Kathy Streib
Cypress, TX
Retired Home Stager/Redesign

Hi Carla-you make some excellent points.  just because people are of a certain age doesn't mean that they must sell their home for something more size appropriate. Many I know love their home and their neighborhood and don't want to move. My own sister-in-law said that she's not going anywhere. 

Jan 22, 2022 01:43 PM
Carla Freund

My mother-in-law stayed in her home until she had a stroke in her late 80s. She went to a nursing home to recover. She always knew which assisted living care community she'd want to go into but she didn't want to go until it was absolutely necessary. I can respect that.

Jan 23, 2022 11:57 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Good morning, Carla... great points for many boomers. Of course, this "early" baby boomer (me) is completely immune to all those arguments right now and probably for some time to come! :) Clearly, I'm contributing to the housing shortage. I'm in my 70''s, my husband in our 80's and both of us agree we don't want to live around all the other "old" people.

Jan 23, 2022 04:25 AM
Carla Freund

I imagine you being a very active person Nina. I'm probably a little more like you. I like being around people of all ages and demographics. I also think working helps you stay young.

Jan 23, 2022 11:58 AM
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

You always have great advice, those in your area should definitely be reaching out for all of their real estate questions!

Jan 23, 2022 05:05 AM
Carla Freund

Thank you so much Brian. Same to you! Have a wonderful weekend!

Jan 23, 2022 11:58 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Carla, interesting post, and have a few boomers looking to move this year, thankfully.

Jan 24, 2022 07:57 AM
Carla Freund

It seems like they want to get in on the good selling market.

Jan 24, 2022 09:50 AM