Some real estate experts say selling your home before you move is the best route for families, but is that really the ideal solution for older adults?
We’ve broken down the pros and cons of selling before and after a move for your consideration.
The Pros and Cons of Selling a Senior’s House Before the Move
Pro: Access to Money
Many people choose to sell their home before they move to help free up money to finance senior living. The house is often the single greatest asset an older adult has and the proceeds from the sale are needed to pay for the expenses of senior living.
Con: Showing a Potentially Cluttered House
Any seasoned realtor will tell you that showing a cluttered lived-in home does you a disservice when trying to sell. Older adults who have lived in their homes for many years have often acquired a lot of “stuff.” It doesn’t always create a positive first impression.
Con: Disrupting the Senior’s Schedule for Showings
Living in a home that is for sale is tough. Trying to keep it clean and “show ready” at all times isn’t easy. Equally as difficult is finding places for the senior to go during times the house is being shown.
Because many potential buyers work during the daytime, it isn’t uncommon for them to want to visit homes in the early morning and late evening hours. These can be inconvenient times for seniors.
One tip if you do want to sell your home before you move, is to consider choosing a senior-friendly realtor. They can help guide you through the process and provide valuable tips for selling your home quickly and for the maximum amount of money.
The Pros and Cons of Selling After You Move
Pro: Ideal for Staging
Many realtors will tell you that selling an empty home can work in your favor because you’re working with a “clean slate.” In fact, if you’re working with an empty house, you have a great opportunity for staging the home to attract buyers. Professional home stagers have access to furniture and accessories that can help buyers to envision themselves living in your home and quickly close a deal.
Pro: Less Stress for the Senior
A senior who moves first can take their time packing and moving. This helps manage move anxiety and stress, especially when compared to a senior who sells their home and must downsize and move in just a few weeks of time.
Con: Additional Costs
If your senior loved one’s home doesn’t sell as quickly as you expect, you could be saddled with mortgage payments or utility bills as an added expense. In order to sell your home, you need to keep the lights and water on to make sure that potential buyers see your home in its best light (no pun intended!). Are the added expenses ones your family can manage? Some senior living communities have partnerships with companies who help establish short-term bridge loans for the time needed to make this transition.
Best Choice for You
It’s clear to see that there is no right answer when selling a senior’s home. The best way to cut down on anxiety surrounding a move is doing what feels right for you and your family.
It might be worth it, however, to consult a senior-friendly realtor before you ultimately make a decision. Their expertise, not only in the field of selling homes for seniors, but also on the real estate market in your Indiana neighborhood, should help you to make a more informed decision.
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