Life is ever-changing and evolving, and sometimes those changes can inspire uncertainty. For senior citizens considering transitioning into assisted living, a primary concern is the fear of losing one’s autonomy and independence. However, assisted living often offers seniors the opportunity to enhance their independence, not hinder it. Assisted living residences can redefine independence, allowing senior adults to explore a new lifestyle full of connection, activity, and growth – all without the responsibilities and maintenance of homeownership. Is it time to sell your home and move to the next phase of your life? Let’s take a closer look.
Diverse Benefits of Selling a Home
Florida resale values have been rising for several years – and although list prices seem to be leveling off, the advantages for many seniors looking to sell their homes are obvious. Especially for those whose mortgage is paid off, capitalizing on the total equity built up over years of homeownership can be an intelligent financial strategy.
Remember: Be sure to consult with your personal financial advisor and an experienced real estate professional before deciding to sell your home.
Selling a home that is not encumbered by a mortgage could net a senior a considerable sum of cash. Even those homeowners with mortgages, however, may see a tidy profit as current market conditions have boosted most Florida home values, increasing equity and financial opportunities.
Beyond the tangible financial gains, selling your home as a senior may provide an invaluable level of clarity. No market is forever, and conditions are ever-changing. Waiting for the “perfect” time to make the switch may result in missed opportunities as market dynamics shift. Opting to sell in a strong market that coincides with an interest in assisted living may enable more robust budgeting for future living expenses.
Relieving the Burdens of Homeownership
Making the move to assisted living does indicate the end of one phase of your life and the beginning of another. However, this can be a net positive in many ways. The day-to-day challenges of maintaining a home and yard can be replaced with a supportive living environment where all household tasks are taken care of for you. For many senior citizens, home maintenance responsibilities – from routine cleaning to unexpected repairs – can become tiresome and overwhelming, consuming time and financial resources that could be better spent on an enjoyable retirement. Selling a personal home liberates an older adult from the ongoing obligations of property ownership.
And while an assisted living residence offers a lifestyle free of most everyday burdens, seniors do not automatically relinquish control of their daily lives. Every resident in an assisted living community is afforded an appropriate level of independence while also delivering the level of care they require. Very few senior adults will miss having to schedule lawn maintenance or call an A/C repair company – but if they are able to continue cooking for themselves and participating in their favorite hobbies – and they still wish to – that is still an option. In other words, assisted living allows seniors to spend their days in a way that makes them happy and fulfilled.
Selling a long-time or family home can be stressful and a little sad, but the trade-off can be wonderful. If you or a family member is considering transitioning from a personal residence to a senior community, call My Care Finders first. Our compassionate and knowledgeable team has worked with hundreds of Florida families to determine the best “next step” for their loved one.
My Care Finders understands that every individual has unique needs and desires – and we are here to make sure your new home checks every box.
