Are you thinking that big home you bought back when your family was growing has got to go? Whether you’re a younger “boomer” or more mature, it’s a big decision. There are certain things you’ll want to consider.

How affordable is It?
If you’re moving to a neighborhood or complex with HOA fees, consider what’s covered. Will they be shoveling your snow and maintaining your landscaping or will you have to pay someone? Will your property taxes go up or down? Will you have the cost of travel to visit family? And here’s the really big question: Can you buy your next home outright with the proceeds from selling your home or some other source? Most financial advisors agree that a mortgage should be avoided if at all possible in retirement.

Your Hard Earned Equity
Read the last sentence in the previous paragraph again. And again if you need to! This might be the time to bring in your financial advisor. Your home is part of your whole financial package; maybe a large part. Depending on where you stand financially, you may want to sell and have your excess equity at your disposal. Maybe you need to figure out how to stay in your home. Is a reverse mortgage right for you? You worked hard to build the equity in your home. Make sure it will be working for you!

Feeling Secure
The older people get, the more they may be targeted by scam artists or for break-ins. If you’re not feeling secure in your home any more, that may be your reason for moving. Just make sure the place your moving to will give you the peace of mind you’re looking for.

No More Mowing and Maintenance
Tired of taking care of a big house and yard?  You’re not alone. That’s what sends a lot of empty nesters looking for a smaller house or townhome. The reality is, some of us got even busier when the kids moved out. After all, we now have more time for all those activities we put off when they were home. Do you want a full service HOA that takes care of a lot of those chores? Make sure you’ve read the HOA documents thoroughly so you know what’s covered. If there is no HOA, what would the cost be of hiring those tasks out?

Your 4 Legged FriendsMake sure that wherever you want to go, that your furry friends are welcome. Many associations overseeing town-homes and 55+ communities have restrictions.

Mobility
You may be in great shape now but, if you’re hoping this is the last move you’ll have to make, will this home meet your needs in the coming years. There are many things you can do to make a home more “accessible” but some floor plans just don’t lend themselves to doing that.

Location, Location, Location
Are you going to be near children and grandchildren? If not, how easy is it for them to get to your prospective new home? The distance to an airport is important when family needs to fly in. What about stores, restaurants, hospitals and recreation close to home? Put your home in the right location and you just might feel like you’re on vacation!

If you need to talk about one of these topics in more depth, I would be happy to share what I know or connect you with someone who can answer your questions. It’s always a privilege and a pleasure to help you in any way I can.