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Selling a House to Pay for Senior Living

The decision to move into a senior living community often reflects a desire for a simpler, healthier, more enjoyable way to live, leaving behind the maintenance and safety worries that come with home ownership. Selling a house to help pay for senior living takes care of both.

An Easier Life Awaits

Using proceeds from the sale of a house is one of the most common ways to help pay for senior living. While the decision to move from a house into a community isn’t always an easy one, most find the lifestyle and social opportunities the community offers have a positive impact on their health – and happiness. In fact, many older adults say they’ve become more active after moving from a private residence.
And since they are relieved of the burdens and unexpected costs of things like lawn care, repairs, upkeep and improvements related to changing health needs, they have more time (and energy) to focus on enjoying life fully.

Planning for Your Move

Proceeds from the sale of a house will not only help fund the cost of the community, but they may also cover moving expenses.
Packing up and moving can seem overwhelming – especially for those who may be downsizing for the first time. But it doesn’t have to be. There are many organizations who specialize in helping older adults move. These organizations can help with every step of the moving process, from home staging to downsizing and decluttering to packing, moving and unpacking.

All Real Estate is Local.

Before listing the house, search for a real estate agent who is an expert in your market. Knowledgeable agents can make all the difference in securing the best possible sales price.  There are also realtors with Seniors Real Estate Specialist (SRES) who are specially qualified to address real estate needs of older adults.

Quick Sale

A quick sale is an option for those who need to move quickly and do not have the time to make repairs or professionally stage the house. There are senior transition specialists who may be able to make an immediate cash offer on your house. They can inspect the house, conduct a market assessment, evaluate the cost of any needed repairs and then make a quick to ensure fast easy access to funds. Even better, your time can be spent enjoying life in a vibrant community, rather than working on preparing your house for sale.

Loans and Mortgages

What if I Don’t Own a Home?

While many older adults utilize the proceeds from the sale of their house to help pay for senior living, there are many other avenues. Lifelog renters can also pay for senior living with sources of income like Social Security, pension, annuities, interest from bank accounts, interest from stocks/bonds, rental income and/or trust funds.

Need More Information on the Cost (and Value) of Senior Living?

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