Is it Time to Sell Your Home? Senior Edition

Have you recently been thinking it may be time to move to a senior-supportive environment or perhaps move in with family members who can assist with your needs as time goes on?

Many seniors may prefer aging in place in their home they’ve raised their kids in, created memories that will last forever in — but circumstances may prevent that from being an option.

  • Home maintenance becomes a hindrance
  • Financial hardship
  • Support services are needed that are not available at home

Whatever the reason, there may come a time to sell your home. If and when that time does come, here are some questions (from the NAR) you may want to ask yourself:

  • Is moving the best option? If so, where? — Assisted-living facility, smaller home, retirement community?
  • Are close family members on board with the choice to sell?
  • What is the best way to downsize a lifetime’s worth of possessions and family heirlooms?
  • What are the tax-related implications of a sale?
  • What effects might a sale have on future income?

As an SRES, Senior Real Estate Specialist, feel free to reach out if you have any other questions or would like to chat more.

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