Important Home-Buying Tips for Seniors

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Buying a home is one of the most stressful processes to go through. This stress is multiplied when you’re a senior citizen. Whether you’ve decided to move into an apartment or a home in a retirement community or assisted living facility, it’s never an easy process. Moving can take its toll on seniors both physically and emotionally, because you’re leaving behind the memories you made in your current place. Below, we’ve listed some tips for you to follow as you embark on the next phase of your life and purchase a new place to call home.

 

Selling Your Home

 

Before you buy a new home, you have to put your current home on the market. To start, research the selling prices of other similar-sized homes in your city and neighborhood. For example, the average selling price of homes in Colorado Springs, Colorado, is $295,000. It’s always smart to get a professional’s opinion, like a realtor or residential appraiser. It’s the job of both of these professionals to give you their opinion of your home’s worth and how much you should sell it for. The amount of money you make from selling your home will depend on a couple of factors, including whether it’s a buyer’s or seller’s market and what renovations you’ve made to your home. Another thing you can do to make your home more attractive to buyers is to increase its curb appeal through plants, flowers, and outdoor lights.

 

Figuring out Finances

 

Take a look at your savings account and also how much money you’re making from selling your current home. We understand that being in retirement makes it hard because you don’t have a reliable income. However, it’s possible to get your next home on a budget. Some options include subsidized housing programs, buying a home and renting out a room to a senior citizen you know, or living in a co-housing community. Another budget tip to follow is to research low-cost areas in your state and in other countries (like Vietnam, Peru, Portugal, and Malaysia), where cost of living is low and affordable.

 

Finding the Right Home for You

 

There’s a lot to think about before you buy your next home as a senior. Where do you want to spend your retirement years? Do you want to be next to a golf course or part of a community that hosts activities for its residents? If you’re independent, active, and can safely take care of yourself, an apartment or home in an independent living community sounds up your alley. If you require assistance with bathing or dressing, you fall often, or you require medical care, you should consider an assisted living facility. When deciding what type of space to move into, consider the layout, size of the backyard, and whether it’s a single-level home or two-story home (stairs are typically not recommended for seniors).  

 

Asking for Professional Help

 

Moving ranks high on the list of stressful things that people do, just behind a family member dying and getting a divorce. Moving not only comes with physical stress, but it can be emotionally draining as well. That’s where senior moving companies come in. They will work with you to help make your move as easy as possible. Not only will they help you pack all of your furniture and move it into your new home, but they are trained in the sensitivity that seniors feel when moving into a new home. When you work with a pro who knows what he’s doing, you’ll feel less stressed and you can finally enjoy the home buying process.

 

Buying a home at any age can be stressful, but that shouldn’t stop you from doing what’s necessary for you. After figuring out your finances and determining what living situation works best for you, you can begin enjoying your new home.

By

Hazel Bridges

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