Have you been watching the real estate market, wondering if it’s finally time to sell your home? Throughout most of the country, the real estate market is booming thanks to low mortgage rates and demand from remote workers who are looking for more space or a new area to call home. If you’ve been wondering when to sell your home and move to senior living, the time could quite likely be now.
Today’s Real Estate Market
The real estate market ebbs and flows, continually shifting from a buyer’s market to a seller’s market. Right now, we are in the midst of a real estate boom because of high demand and relatively low inventory. People are ready to move into a home that offers more space for an office or growing family, or to make an even bigger move to a new city or state now that they have increased flexibility due to the pandemic.
Although there are many buyers in the market right now, there are not enough sellers to meet the demand. This means home showings often have a line of potential buyers, and sellers are receiving top dollar offers to edge out competition.
The bottom line? It’s a seller’s market, so if you have a house to sell, now is the time to list it, or at least begin the listing process.
The money you make on the sale of your home will give you confidence as you move to a senior living community. In these communities, costs are generally allocated as a monthly fee that includes your mortgage, utilities, and a meal plan, as well as access to amenities, services, and resources. Most older adults and their families are pleasantly surprised to see how senior living fits nicely into their fixed budget and helps them meet their financial goals.
Before You Sell Your Home
In order to get top dollar for your home, take time to make budget-friendly improvements that will increase the value of your home or entice buyers. Ensure your outdoor landscaping is freshened up and make any necessary repairs that could otherwise deter buyers.
Also, consider working with your real estate agent or a professional home stager to make your home look its best. Removing clutter and downsizing your belongings not only allows for better home staging, but also gives you a headstart on packing in the future.
Once your home is ready to go to the market, work closely with your real estate agent to set a fair market price. During this time, you can also begin looking for senior living communities near you that offer a maintenance-free lifestyle throughout retirement.
Senior living communities are vibrant hubs of activity, designed to make your retirement goals come true. Every community is unique, offering different amenities, services, and resources to enhance wellness, independence, and socialization. These communities are the perfect solution as you sell your home and say goodbye to the responsibilities that come with homeownership.
After You Sell Your Home
After you sell your home, it’s time to make your final decision about which senior living community suits your current and future needs. Work with your chosen community to set a move-in day and plan for a seamless transition. Now is also an excellent time to begin enjoying life in your future community by attending meals or events to get to know your new neighbors.
If you haven’t settled on a senior living community choice yet, that’s okay! There is still time to make a confident decision.
Learn more about your senior living options by downloading our free resource, The Journey to Senior Living: A Step-By-Step Guide for Families. In this guide, you’ll discover everything from how to begin your search for a community to how to make moving in as easy as possible.