It’s vital to consider if your current home has the ability to adapt as you age. When you think about your retirement years do you see yourself aging-in-place in your current home or do you envision your home being somewhere else and perhaps even a different style of home? These are questions to consider. Today’s Baby Boomers (born between 1946-1964) are maintaining an active and healthy lifestyle longer than generations ago. This group represents one of the largest demographic groups to enter their senior years in the next two decades.

To Sell or Not to Sell

According to the National Association of Exclusive Buyers Agents (NAEBA) these key factors should be considered when deciding whether or not to sell your home.

Does living in your current home make the most sense when it comes to affordability and livability?

Few plan for a sedentary lifestyle associated with aging. As Active Adults consider options for independent living, it’s wise to review how your home’s living arrangements will accommodate your changing needs. If you or a family member were required to use a walker or wheelchair to navigate through the rooms in your current home, would it be easy to get around? It can become expensive to upgrade a home to accommodate wider doorways, lower countertops, and the installation of handrails throughout. These are little things we don’t think about in our younger years but are essential as we age. Think about associated expenses of hiring someone for lawn maintenance and general repairs.

Look at your projected retirement monthly income and decide if you can save on taxes and monthly expenses if you relocate to a smaller home, a complex with homeowner association (HOA) fees, or moved to closer to family and businesses you frequent.

Have you established equity in your current home?

If you do have equity in your home you may be surprised to learn this equity can be applied to purchasing your next home. Depending on your wants, this equity could lead to a retirement home purchase with no (or a greatly reduced) mortgage.

Do you have any interest in home maintenance?

By the time you become an Active Adult you probably aren’t looking forward to mowing your lawn weekly or doing any of the other home repairs that pop up. If you have any physical health limitations, tackling these things can be challenging. This is chapter in life when many desire to slow down and living in a community with HOA services which includes outside maintenance could be exactly the best choice.  

How much security do you need in your home?

Residing in a home with added security features brings peace of mind and can be a deterrent for aging homeowners to become targets of break-ins. Compare the cost of upgrading your current home to buying your next home where these features are in place or perhaps even building a new home to suit your specific needs.

Is the location convenient?

Being near the places your visit most is convenient plus saves on fuel for your vehicle. It’s understood aging often comes with more frequent visits to see health and wellness professionals. Living closer to facilities makes sense. Being near family and friends now that you have more time in retirement is another big plus. Having amenities within walking distance becomes much more desirable especially if you no longer drive after retirement. All things to consider when deciding where you will live in your retirement years.

If you have any concerns or questions about how your home may adapt, give me a call. I’m happy to help and should you decide to sell your current and seek a home that is better adapted to your changing needs, I’m ready. Let’s talk soon.

Since 2004 Sara Lyn Nguyen continues to bring a wealth of knowledge and expertise about buying and selling real estate around the Houston area to those she serves. Sara is a multi-year award winning REALTOR® and relocation specialist where her clients trust her to have up-to-date information on the real estate market. She has been one of Gary Greene’s Multi-Million Dollar Top Producers every year and was the #1 Top Producing agent in 2019 citywide. Sara is an American Dream TV Power Player who shares Houston real estate news with television viewers. When it’s time to buy, sell, invest, or relocate speak with a trusted professional knowledgeable in the homes and neighborhoods of Fort Bend/Sugar Land and the surrounding region.