7 Steps to Take When Selling Your Home

October 28th, 2021

Retirement is an exciting time. Moving to a new Continuing Care Retirement Community (CCRC) where you’ll be surrounded by new people and new opportunities turns that excitement up to an even higher level. If you’re like so many retirees, there’s one big step still to take before you move: selling your current home.

When should seniors sell their home? If you’re selling your house to fund retirement, your first instinct may be to try and sell it as quickly as possible in order to pay your new community’s entrance fee. However, you should never rush a process as important as this. The main objective is getting the most out of your sale. Like any move, it can be long and complicated, but it doesn’t have to be. With a few simple steps, you can be ready to sell and on the road to the retirement you deserve.

1. Consider the Timing

Retirement living is the time you’ve been waiting for all your adult life. Why make the move now? Why not? Preparing to move from your home into a CCRC, or Life Plan Community, means you’re ready to enjoy the freedom to focus on your relationships and interests without worry. Instead of spending time concerned with home maintenance, changing health needs or the costs of necessary health services, you can take comfort in the security of knowing you’ll be taken care of in a community you already call home. According to a recent survey that questioned more than 5,000 residents in 80 CCRCs across 29 states, retirees who made the move early are happier and healthier than those living elsewhere in ways that include:

  • Improved emotional, social, physical, intellectual and vocational wellness
  • More nutrient-dense diets and more active lifestyles
  • Greater sense of connectedness and belonging within the community
  • Overall lower levels of depression than those in rental communities
  • Higher life satisfaction, better mood, more positive views on aging, less stress and a greater sense of control over their own lives

2. Compare the Costs

One of the biggest reasons people choose not to move when they retire is because they think it costs too much or that they won’t get enough money for their home. But consider all the costs that come from living on your own. Bills can add up quickly. Mortgage payments may still be owed. Add to all that utility costs, food, gas and more. Then there are all the other factors that many don’t consider when adding up their monthly bills — things like HOA dues, housekeeping, gym memberships and home repairs. At a CCRC, almost all of these costs are rolled into one convenient monthly fee, in addition to the initial entrance fee. Managing your money doesn’t get much simpler than that.

3. Get Everyone on Board

A move to a CCRC is a move that impacts the whole family. If this is your own decision, or if you’re a child trying to help a parent take this important step, communication with everyone it will affect is key. Take a moment to sit down together to explore all the available options for retirement. This will help everyone develop a clearer picture of why a CCRC is the right choice.

4. Hire Great Help

The right realtor could make all the difference when getting ready for retirement. With them marketing your home and answering any financial questions that may come up, you can focus on downsizing and getting ready to enjoy your new lifestyle. Home buyers find more than 75% of properties online, which means being active on the web is key for successful realtors. Seniors real estate specialists (SRES) are specifically trained in addressing seniors’ real estate needs and have a large network of attorneys, financial planners and accountants that can help make moving easier.

5. Do Your Research

What type of homes have sold most recently in your area, and at what price? This is important information to know, which your realtor can easily access. Comparable listings help guide your sale process in the right direction to find similar success. Local market info is often easily and freely available online through resources like realtor.com, where you can look up local trends, including your city’s median listing price, median closing price and the average price per square foot.

6. Start Downsizing Early

Packing up a home takes lots of time and effort, especially if it’s one you’ve lived in for many years. It’s never too early to start the process of downsizing. Look in your area to see if there are downsizing services nearby. Your new community may also offer these services through partner affiliates. They’ll provide invaluable advice like packing the less-important items sooner rather than later so you can declutter more quickly and spend more time arranging the larger items.

7. Follow a Timeline

Keeping a consistent schedule is a great way to take the moving process one step at a time and to hold yourself accountable along the way. Create a timeline to give yourself a clear picture of when you need to put plans into action. The specific move-in process is different for every community, but there are certain things you can expect in the months leading up to your move. When a plan is in place, and you have help throughout the process, your move can be smoother than you would have imagined.

By following these simple steps, the trepidation of moving can be replaced with the excitement that comes with all there is to discover in retirement. If you’re ready to begin exploring your senior living options, get as clear a picture as possible of what your future could look like to make sure it’s the right fit for you and your family. A community like eliseoTM could be exactly what you’d hope to find. eliseo has even partnered with Seniors Better Together to help explain why moving to a senior living community makes more sense now during a pandemic than before. Once you’re ready to learn more about us, we’ll be more than happy to talk. Contact us by calling 253.319.3947, or schedule an appointment to visit our Tacoma, WA, campus.