7 Home-Selling Tips for Seniors

 

When you initially consider selling your house, it may appear to be an easy retirement undertaking. When it comes time to actually begin the process, though, the necessary steps might seem daunting. Here are seven suggestions for seniors selling their houses to make the move to a new home or senior living community go more smoothly:

 

GET SOUND FINANCIAL GUIDANCE

Get tax and financial advice before placing your house on the market. You may not be able to deduct a loss from your income taxes if you sell at a loss. In general, if you sell for a profit, you can deduct a certain percentage of the profit from your tax return. When it comes to residences, tax rules may be a little complicated, so if the initial advice you receive seems a little hazy, obtain another professional’s view. 

Consider transactional fees when estimating how much you’ll make. Escrow fees, transfer taxes, commissions, and inspection fees are examples of charges that vary by location. Finally, try to forecast your future financial demands as accurately as possible. 

 

CREATE A TIMELINE

It’s a link between your current residence and the one where you’ll spend your retirement years. The optimal timetable includes significant transition milestones as well as dates that allow for practical flexibility. 

Keep your timeline, as well as all of your notes, lists, and contact information related to the selling of your house, in a dedicated folder to stay organized. Regularly reviewing it, even before you market your house, should alert you to any possible problems and indicate when you should seek assistance from friends or family.

 

CHOOSE THE RIGHT REAL ESTATE AGENT

There’s a lot of advice out there on how to find a great Realtor®. Some seniors choose to work with the real estate agent who has sold the most homes in their area. Others look for people who are referred by friends. While most of the time, they look for agents who specialize in working with elders in their local area. 

Whatever way you use to hire the right real estate agent, make sure you interview at least a few agents. A competent senior care specialist or agent would inquire about your long-term objectives. Before requesting you to sign a listing agreement, he or she will give you a reasonable listing price and immediately answer any of your questions or concerns.

 

SORT & DECLUTTER

When downsizing a house and moving to an assisted living facility, the need to deal with a lifetime’s worth of belongings arises. The process of selling, giving, disposing, or storing becomes less intimidating when you use a timeline. Examine first the floor layout of your future home to figure out how much furniture you can fit inside. 

Keep in mind that you’re showing your home in the open house, not your belongings. Before opening your doors to potential buyers, put extra goods in storage or ask a friend to store them since potential buyers will try to imagine their belongings in the property, not yours. If you don’t have room in your new house for that antique cabinet, now is the time to give it to a family member.

 

REPAIR & RESTORE

Now is the time to fix leaky faucets and squeaky doors. Replace that old water heater and soiled carpet, since buyers like houses in move-in condition. Consider repainting any walls that aren’t as appealing as they once were. Trim overgrown bushes and give your house a makeover with power washing or painting. 

Keep lawn mowers and other tools within easy reach if you want to keep this “buy me” appearance. This is the ideal time to invite friends and neighbors over to paint, reminisce, and eat food off the grill.

 

HIRE PROFESSIONAL MOVERS

Allow them to pack and transport your belongings to your new home, even if you’re relocating to an assisted living facility near you. This will be quicker than a do-it-yourself project and will most likely cause fewer damages to your belongings. 

Make sure you have adequate necessities for your first few days in your new home. To reduce tension when you arrive, bring clothing, dishes, linens, a flashlight, and a first-aid kit.

 

BE PATIENT

Listing, showing, and closing on a house you wish to sell may be challenging and time-consuming, especially for seniors who have lived in their homes for decades. Have patience with yourself and those who are helping you. 

Keep in mind that your objective is to make your life easier. It’s moving day, and your last box is on its way up the moving van’s ramp. You were able to sell your house with far less difficulty than you anticipated. Give yourself a pat on the back and then relax for the remainder of the day.