Muskoka Real Estate Matters – By Maggie Tomlinson
For many seniors the decision to give up the home you have had for so many years can be a difficult one.
Reasons for contemplating a move can range from your home having too many stairs that are becoming too hard to navigate – to an aged furnace or shingles that will need costly repairs or replacement – to finding those grass cutting, snow removal and other maintenance tasks to be simply too much to manage.
My job as an Accredited Senior Agent is firstly to meet and be an advisor to seniors, and then to help guide them through whichever process they decide is best for them.
If it’s too soon for you to make the move to a retirement living community, then here are the Top 3 options you might want to consider:
Sell Your Home & Buy a Condominium
Making a move from a home to a condo can accomplish several things: allowing you to downsize to the amount of space that suits your needs; and letting someone else look after all of the maintenance and repairs for you.
Renting an Apartment
Instead of purchasing, perhaps you would be interested exploring the rental market. Selling your home and renting would give you access to the equity from the sale of your home.
Moving in With the Kids
It is becoming increasingly common for seniors to move in with their children. In many cases adult children have large homes that will accommodate multi-generations with separate living spaces and privacy assured for everyone.
Sometimes selling your home but actually staying in it might make the most sense. In this circumstance it could be worthwhile to investigate a Life Lease. Alternately, some seniors may also want to learn more about Reverse Mortgages.
Have questions? Don’t hesitate to call Maggie Tomlinson today for a complimentary, confidential consultation.