How To Decide When To Sell – Seven Questions to Think About Before You Decide To Sell

Housing needs change throughout our lives. At first, singles need a place to call their own. Then young families move to get more space for the kids. Later, "first generation" retirees may want less to take care of, and finally "second generation" retirees may need more support and services.

Many seniors in their old homes and are perfectly content to be there. Others find their thoughts turning to a new home, perhaps even to completely new way of life. Still others remain in their familiar homes while they are independent, but plan ahead to move to assisted living housing when they need it.

Here are a few things to consider if you or older family members have reached the point where a retirement move might be the best strategy:

Are you over-housed?

Are your rattling around in your empty nest, paying more than you want for taxes, utilities and maintenance? If retirement means a cut in income, would a lower-priced home, townhouse or condo be easier to manage on your resources?

Do you need the equity from you home?

For some older owners, the equity built up in a home is their main retirement savings. Sometimes a move is needed to convert that equity into cash and income to be secure for the years to come.

Is the home’s upkeep manageable?

Do you have the time, energy, or interest to paint, clean, mow, etc.? Will the roof need replacing soon, or the heating/AC need repair?

Does your home style match your physical ability?

Are there too many steps or step-down rooms in your current home? So you need a wheelchair-accessible residence? Is the yard more than you can handle? Are the safety, security, lighting, heating/AC systems adequate for retirement?

Have friends and neighbors moved?

If friends, relatives, neighbors, doctors, and merchants have gone, maybe its time for you to consider moving also.

Would a move improve your lifestyle?

If extensive traveling appeals to you, for example, you may want to relocate to a more economical, lower-maintenance home. You may want to be more conveniently located for activities such as golf, bridge clubs, walking trails. Or you may just want to move near old friends – or to a community where you can make new friends with interests similar to yours.

Careful planning and sound, expert advices are crucial to a successful move. Consult your financial advisor or accountant- and please call us about your real estate options. We’d be happy to listen to your needs to learn how we can help.