When it comes to real estate, seniors have the power to make informed decisions.
Whether you’ve retired or about to enjoy retirement, it’s an exciting time! If you are thinking about downsizing or upsizing, making an informed choice for your next residence can create a more carefree lifestyle and longer independence. It doesn’t have to fit a mold of what life should look like in your later years. You may be retired from work, but you’re not retired from life.
One of the most important parts of retirement is deciding where to live. 85,000 seniors have made Central Oregon their home for many reasons. Proximity to nature, access to health care, more than two dozen golf courses, fishing, skiing, hiking all coupled with a strong sense of community nestled in the great outdoors.
Smart Sizing is taking into consideration how you want to live and what is important to you. By really thinking about your options and priorities, you can buy a home that evolves with your changing needs over time.
Think about your evolving lifestyle.
Are you looking for a smaller space with less upkeep or do you want more room to allow space for family members or friends? Would you like to live in a different location? Maybe one with moderate weather and more walkability or closer to medical facilities and entertainment. Are you tired of going upstairs and dream of single level living? Being proactive now can help you to maintain and increase your quality of life in the future.
Review your budget and financial investments.
Downsizing can have many financial advantages. A smaller house can mean less upkeep, lower utility bills and monthly expenses. Before making a decision, it’s important to consider all angles. Will you be purchasing your new home with cash, a mortgage or if you’re over 62 will you taking advantage of the special lending programs available to you? You have a lot of options and we are here to help.
Downsizing may sound like a good financial move, but it’s not always the case. Your current home may not be worth what you think it is. Or perhaps you haven’t purchased in many years and may be underestimating the cost of a new home. Additionally, there may be tax implications that are important to understand and address if your current home has gained substantial value over your time there.
Partner with a Seniors Real Estate Specialist®
The Seniors Real Estate Specialist® (SRES®) designation is for REALTORS® who want to be able to meet the special needs of maturing Americans when selling, buying, relocating, or refinancing residential or investment properties. By earning the SRES® designation, REALTORS® are prepared to approach mature clients with the best options and information for them to make life-changing decisions. I am a SRES® and love working with seniors to help them find the home that best fits their life at this stage.
Housing trends come and go. That’s why smart sizing is a great way to approach this next phase of life. It’s all about you, your needs, and the future you envision for yourself.