Should You Sell Your Home Before or After Moving to Independent Living?

If you’ve decided to move to an independent living community, one important decision you’ll need to make is when to sell your current home. Are you better off selling your house before you move or waiting until after you’ve transitioned to the new place? There are many factors to consider with no one-size-fits-all answer.

To help you make an informed choice, one that you feel confident in, here are a few things to think through.

Moving to Independent Living: Questions to Consider

  1. Do you need the proceeds from the sale to finance your move?

For many people, a house is their greatest financial asset. The reality is, you might need the equity invested in your home to finance your new chapter in life. But if you prefer not to move before you list your house for sale, there is one solution that might help.

Bridge loans are an option to consider. They allow you to use the equity you have in your house to help finance the move. Once the house is sold, you can pay off the loan. Bridge loans are available from a variety of banks and lenders.

  1. Can you keep the house ready for real estate showings while living there?

Living in a home that is for sale can be tough. That’s because buyers often have high expectations. An immaculate, clutter-free home generally gives the impression that the home is well cared for and maintained. If you are working on downsizing and packing, it can be difficult to keep the house ready to show all of the time.

A better, less stressful choice might be to move first and then hire professional stagers. Professional home stagers are experts at creating an environment that attracts buyers and closes deals more quickly.

  1. Is your schedule flexible enough to accommodate multiple showings?

Potential buyers might work and have busy family schedules. This might translate to showing requests for early-morning or late-evening hours. You also may find that when the house is first listed, you have multiple viewings in one day. Requests for showings can come on short notice. It is important to consider whether these interruptions will post a hardship or not.

Most often when a home is being shown to potential buyers, the real estate agent asks the homeowners to be absent. This can be another inconvenience. These are just a few of the issues to consider when making this decision.

  1. Can you afford the extra expense associated with two homes?

If you choose to move before selling your home and it doesn’t sell as quickly as you hoped, can your budget accommodate these duplicate costs? Will the added expenses cause you too much stress? Depending on where you live, the housing market can be unpredictable. It’s important that you are realistic about how long you will be able to pay expenses in two locations.

Senior Move Managers and Certified Real Estate Agents

As you ponder the decision about whether to sell your home prior to a move, there are two groups of professionals who might be of assistance. One group is a senior move manager®, and the other is a seniors real estate specialist® (SRES®). Both are accustomed to handling the unique needs of older adults who are transitioning from a private home to a retirement community or simply to a smaller space. Visit their websites to search for a professional near you.

Moving to Independent Living: Learn More about Financing Senior Living

One of the challenges older adults encounter as they prepare for a move to a senior community is what types of financing options are available. There are a surprising number that aren’t well known. That’s why we developed A Family Guide to Funding Senior Care & Housing. Download this helpful resource today with our compliments!

moving to independent living

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