When should a senior sell their home?
Selling a house is a big decision. For seniors, it can be an especially pivotal moment. Are you or your loved one a senior considering selling your home?
What is Your Financial Situation?
When speaking with your advisor, you should explore retirement savings, investments, home equity, and other sources of income. In addition to understanding the financial situation of your or your loved one’s situation you need to ask the following questions:
- Can you sustain your lifestyle as is?
- Are home values in your area rising or falling?
- Could selling now provide you with greater financial stability?
- How much money will you have going forward for housing and other expenses?
- How much do you need to cover your housing and other expenses?
What is the Cost of Staying in Your Home?
- Is there work to be done on the house?
- Are there reoccurring late fees due to forgetfulness?
- Is there a lawn to upkeep?
- Is the house becoming increasingly cluttered and dusty?
What is the Current Housing Market?
Are You Lonely In Your Home?
Moving into a senior community can provide an enriching social environment. These communities often offer various activities, both within the community and outside. These activities foster camaraderie that can last a lifetime.
Is Your Home Safe?
Do You Need Assistance?
When a senior considers selling their home, it's not just about changing addresses. It's about starting a new chapter in life. A chapter of comfort, safety, and fulfillment. With patience and the right guidance, the decision to sell can be a rewarding step forward.