Senior Resources Housing Directory 2019

MAKING THE RETIREMENT MOvE A WELCOME CHOICE

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The real estate professional will provide advice for preparing the house for sale. The longer the senior has lived in the home, the longer it may take to get the house ready for marketing. Removing clutter is a must and family members can usually help sort through heirlooms and belongings. Generally, homes in good repair with updated deco- rating sell for a higher price than comparable homes that are out- dated or in poor condition. The real estate professional recog- nizes that seniors need to maxi- mize profit when selling, and that they need appropriate education and information to understand the home sale process. Often the home equity represents the bulk of the senior’s assets and will support the future lifestyle of the individual. Seniors must be pro- vided honest guidance and direc- tion to ensure that the marketing, sale and closing of the property go as smoothly as possible. A real estate or tax attorney can provide information on tax and income-deferment strategies. It is natural for seniors to feel sad about a retirement move. Selling the family home does confirm the end of an era but it also repre- sents a time of new opportunity. Seniors can benefit from giving up the responsibilities of home maintenance to free up time for more enjoyable leisure activities and new interests. With careful planning and professional assis- tance, the retirement move can be a welcome choice.

retirement move can be overwhelming and too often it becomes a decision based on necessity rather than choice. There are some planning tips, however, that can help seniors deal with the physical and emo- tional realities of moving and feel better about the decision to move. The American Association of Retired Persons reports that half of all U.S. homeowners 65 or older have lived in their homes for 25 years or more. After being in their homes for decades, seniors are out of touch with the real estate market as well as the available housing options. They are genuinely fearful of whom they can trust or where they can turn for assistance. They are also reluctant to leave a place that is more than home – it is a place that represents a lifetime of mem- ories and relationships. AWashington, D.C.-based group, the American Seniors Housing Association, further reports that most seniors do not want to leave their homes until at least age 75. Certainly seniors are healthier today and able to stay in their homes longer, but leaving their homes when they still have a sense of independence and with the confidence that they have made the right decision remains their major challenge. This corre- sponds with one of several tips from the Seniors Real Estate Specialist (SRES) program: Seniors should consider a move that will improve their lifestyle such as giving them more free- dom, more security or more recreational opportunities.

It is essential for seniors to know where they are moving to before selling their existing homes. Although housing options for seniors have greatly expanded in the past several years, costs and services vary, and many retirement communi- ties have waiting lists. Careful and thorough evaluations must be conducted to determine what services will be needed over several years in the future home. Today’s retirement com- munities offer options ranging from independent living in con- dos or apartments to full assist- ed-care facilities. Seniors are further advised to make multi- ple visits to the new communi- ty, perhaps at different times of the year, before making a deci- sion. Seniors need to determine the value of their current home even if the move will not take place for some time. A real estate professional can provide this information. Care must be taken in selecting an agent, however, that is knowledge- able, patient and understands the process of a retirement move. Many real estate compa- nies not only have specific pro- grams to assist seniors but also have trained SRES associates to work with older buyers and sellers.

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