Key Takeaways:
- Timing is everything in real estate, including when you move into an active adult community
- Let’s look at some of the benefits and limitations of selling before and selling after
- Contact the experts at Carla Freund Realty Team to find what’s best for you
One of the biggest reasons many older adults sell their homes before moving is to help finance their next steps. Suppose you have built up a lot of equity in your home over the years. In that case, it’s probably your most significant asset, and those hard-earned profits may be the key to opening up the door to more senior living options than you’d otherwise have. So as you consider selling your home and what this next exciting chapter of your life holds in store for you, here are a few advantages and disadvantages to keep in mind.
Selling Your Home Before Moving into an Active Adult Community
The biggest advantage is clear: your equity gains can help finance your next steps. Another often overlooked advantage to selling your current property before moving is that you can take your time packing and moving – everything is on your schedule. Negotiate your best timetable during the selling process. This helps manage any anxiety and stress associated with moving.
A downside, though, is that showing a lived-in home is somewhat difficult when trying to sell. This is because people who have lived in their homes for years have often acquired a lot of belongings, which don’t always create a positive first impression with potential buyers. Plus, living in a home that is for sale is tough. Keeping it clean and show-ready at all times is the equivalent of hosting a party every day of the week, and having to find a place to go when the house is being shown is equally tricky.
Selling Your Home After Moving into an Active Adult Community
Selling an empty home can work in your favor because potential buyers are viewing a clean slate. In fact, if you’re working with a cleared house, you have an excellent opportunity to stage the home to entice buyers into choosing your home. Professional home stagers can access furniture and accessories to help buyers envision themselves living in your home and quickly close a deal.
Perhaps the biggest disadvantage in waiting to sell your home until after you’ve already moved is that if your home doesn’t sell quickly, you could be saddled with double your mortgage and utility payments. Sometimes, though, you have to move sooner rather than later. If that’s your case, some senior living communities have partnerships with companies that help establish short-term bridge loans for the time needed to make this transition.
We’re Here to Help You Make The Best Decision for YOU!
No correct answer applies to everyone equally when selling their home. Each situation is unique, and yours is no different. The best way to reduce worry surrounding your move is to work with the Carla Freund team. With tons of experience and expertise in making the transition into an active adult community in the Raleigh area, we’re the team that cares about you and your family. Call us today at 919-602-8489 and start your home search!