{"id":6083,"date":"2024-10-29T07:26:58","date_gmt":"2024-10-29T11:26:58","guid":{"rendered":"https:\/\/www.deeds.com\/articles\/?p=6083"},"modified":"2024-10-29T07:27:00","modified_gmt":"2024-10-29T11:27:00","slug":"selling-the-family-home-to-fund-retirement-get-it-done-in-5-steps","status":"publish","type":"post","link":"https:\/\/www.deeds.com\/articles\/selling-the-family-home-to-fund-retirement-get-it-done-in-5-steps\/","title":{"rendered":"Selling the Family Home to Fund Retirement: Get It Done in 5 Steps"},"content":{"rendered":"\n
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Thinking about the financial and practical aspects of selling your family home to fund your retirement? Wondering where to even begin?<\/p>\n\n\n\n

It\u2019s a major milestone. And it\u2019s best approached one step at a time.<\/p>\n\n\n\n

Here are the steps in the process of navigating the real estate market as a senior<\/a>, selling your home and starting this new life phase. When your mission\u2019s accomplished, we hope you\u2019ll look back at this brief guide and think\u2026 \u201cWell, I\u2019m glad I knew that.\u201d<\/p>\n\n\n\n\n\n\n\n

Step 1. Size Up Your Home\u2019s Market Value.<\/h2>\n\n\n\n

Maybe you\u2019ve decided to move into a senior community. Maybe you\u2019re fulfilling estate planning goals. Maybe you are just downsizing, or hoping to profit from home equity to boost your financial strength. But no matter why you sell your long-term home, make the most of your property value.<\/p>\n\n\n\n

You want to maximize your profit, yet set a price that attracts serious buyers. If you\u2019re like most sellers, you\u2019ll check the leading listing websites for their dollar assessment of your home. (You can look up your home before actually listing it.)<\/p>\n\n\n\n

Who\u2019s your best adviser here? Why, an experienced real estate agent who studies the prices fetched by comparable homes, of course! So\u2026<\/p>\n\n\n\n

Step 2. Pick a Great Advocate.<\/h2>\n\n\n\n

Working with a real estate agent with experience supporting seniors can be extremely helpful. What, you might ask, makes a real estate agent<\/a> great?<\/p>\n\n\n\n

The perfect agent knows mortgage professionals, knows interior systems and design, and can help with the timing of repairs. Get a few recommendations from locals. Then scour the agents\u2019 websites and online profiles. Check that the agent communicates as a real person, not AI.   <\/p>\n\n\n\n

You might also consider looking up the Society for Certified Senior Advisors\u00ae. These agents have professional responsibilities<\/a> tailored specifically for transactions involving senior sellers.<\/p>\n\n\n\n

Step 3. Prepare to Advertise.<\/h2>\n\n\n\n

Get ready to talk up what you love about your home, so you can stand out \u2014 and not get a cookie-cutter description \u2014 when you list.<\/p>\n\n\n\n

Don\u2019t hesitate to crow about any senior-focused perks like handles and bars, strong lights, non-slip surfaces, ramps and so forth. Public transit nearby? That\u2019s a plus.<\/p>\n\n\n\n

This is also a perfect time to update your will and\/or estate planning documents. Talk with your wills & estate lawyer and financial pro. These experts can guide you using the resources you tap by selling, to wisely support your retirement.<\/p>\n\n\n\n

Disabled buyers often struggle to find workable homes. See our <\/strong><\/em>tips for seniors with disabilities<\/em><\/strong><\/a> to imagine what it\u2019s like for these buyers.<\/strong><\/em><\/p>\n\n\n\n

Step 4. Pick the \u201cLow-Hanging Fruit\u201d for Maintenance<\/h2>\n\n\n\n

List the low-cost, high-impact fixes you can handle to prepare for your buyers.<\/p>\n\n\n\n

Tighten up the faucets. Paint the walls. If bigger jobs are necessary, consider them investments \u2014 maybe safety features for the buyer, too.<\/p>\n\n\n\n

Got years of accumulated stuff in there? Take decluttering seriously. Potential buyers will appreciate it. And never underestimate the power of curb appeal. Sprucing up the garden and painting the mailbox is never in vain.<\/p>\n\n\n\n

Step 5. (Woohoo!) List Your Home on the Market.<\/h2>\n\n\n\n

Consider a brief checklist to really get ready to show off your long-time pride and joy:<\/p>\n\n\n\n