Home is where the heart is. It also tends to be where a lot of people’s money is tied up. That’s particularly true for seniors that have lived in their homes for decades.
When the time comes to cash in on that hard-earned investment – to sell the beloved family homestead to finance the next phase of life – it can be hard to know where to start.
First, it helps to better understand the reason(s) for the home sale.
For some seniors, it’s all about “right-sizing.” They no longer need all the space they once did, or they find that their current home requires too much time or money to maintain. Or maybe they simply want a home with a smaller footprint, fewer stairs or that’s closer to grandkids. Other times, it’s a purely financial decision, based on the need to finance retirement, pay off debt or transition into assisted living.
Every situation is unique, so it’s important to know you have options. Here are a few things to consider:
- What’s most important to you: selling your home quickly or selling it for the highest price?
Most likely, the answer is both. If that’s the case, simply hanging out the “for sale” sign on an older home may not be the best approach. Most homes, regardless of condition, will eventually sell if the price is right. If you simply want to make a quick sale and move on, we can certainly help you with that. But, if you really need to squeeze the maximum profit out of your home, we can identify which updates and repairs will get you there. Our team of home improvement experts will make sure you aren’t leaving precious money on the table, adding tangible value without over-improving for the target buyer or neighborhood. Best of all, we do this with no upfront cost to you.
- Are you in experiencing a financial hardship?
Our Seller’s Assistance Program can help alleviate this burden. If your property has sufficient equity, we can advance you the funds needed to cover things like mortgage payments, medical bills, moving expenses, deposits on your new home, etc. There is no prequalification process, with 0% interest and no payments until the home is sold. Our team is here to make the home-selling process is as stress-free as possible, so that you can walk away in a much better financial situation.
- Are you transitioning a loved one into assisted living?
We know that this can be a very stressful time, often placing a high emotional and financial toll on the whole family. We’ve helped clients navigate these transitions many times before and welcome the opportunity to take some of the burden off their shoulders. We can take care of whatever the family needs, including getting belongings packed up and removed, overseeing renovation work, and managing the sale of the home. We can even advance you the moving costs and deposits needed for the family member’s new care facility. Our goal is to ensure everyone has less to worry about, so they can move forward quickly, easily and with more money in their pocket.
- Is a reverse mortgage right for you?
We have teamed up with a great reverse mortgage company with a program that enables homeowners to purchase a new property that better suits their needs directly through the accrued equity in their existing home. Depending on your particular situation, this could be a good option for freeing up capital and supplementing retirement income so that you or your loved ones can live comfortably, and debt-free, in the years ahead.
It can be hard to say goodbye to a home you have loved for many years, but it helps to know all your options. Seniors, we have your backs!
To learn more about how Avenue3 Realty can help you make the most of your home sale to protect your nest egg, contact us at (844) 714-2833 or visit www.avenue3realty.com.