Knowing when to sell your home to move to a senior living community can be tricky and time-consuming. This is especially true if you are uncertain about selling your home to begin with. But now might be the time to ask, is it time to sell your house?
Why Staying for the Memories Can Hurt You
Selling your house at the wrong time can have direct consequences. Many hang on to their houses too long and miss the housing market peak when it happens. Don’t let your memories prevent you from making a sound financial decision.
This isn’t to say it’s uncommon to get emotional about selling your home, especially if you are moving to a living senior living community. However, saying goodbye at the right time is vital to you getting the best deal and sometimes emotions must be put aside to accomplish this goal. Instead, try to harness the feelings and memories you had while shopping for your new home and extend those to your new home.
But how do you know when it’s time to sell your home?
The Signs It’s Time to Sell Your Home
You’ve Seen Positive Selling Trends in Your Neighborhood
This is a no-brainer if you’ve been thinking about selling your home. If the housing market in your area has been trending up and you’ve already decided to sell, then now is the time to act. Though it does get tricky for gaining maximum value since you want to sell when the market peaks.
Home Maintenance Has Become Too Much of a Hassle
Americans notoriously wait too long to downsize or move to a senior living community that better meets their needs and desires for retired life. While you may think you are too young or healthy to move, the sooner you do it the sooner you’ll reap the benefits.
You’re Ready to Be Proactive
As you get older, keeping up with maintaining your home will often fall to your relatives. Once you need more support from your family in general, you will likely need support in upkeep. If you are ready to be proactive about your support, you may be ready to consider other alternatives. A good plan will eliminate the need for your family to be burdened and allow you to focus better on healthier living and doing the things you want.
Is it Time to Sell Your Home?
The simple answer is maybe. If the market is in a good place and you feel like your home is becoming too much of a chore for you to keep up, then yes, it is time to sell your home. However, if the market is down you may want to wait. Though this can get tricky if you can’t keep up with the maintenance. It may end up costing you more, in the long run, to wait for the market to turn while letting your home fall into disrepair.
When in doubt, sit down and really hash out the benefits of selling while understanding that your sentimentality is valid, though it could hurt you. Be sure to think through your vision for the future and the lifestyle you want.
Want to learn more about our community? Visit us today at concordreserve.org/events to find upcoming opportunities or give us a call at 440-961-3693.