Back then, it’s common for seniors to acquire multiple homes by the time they reach their retirement years. Some even tag their homes as “vacation homes”, “weekend houses” and even their “city house” if they need to stay within the city for an extended time. These houses were considered as an investment, something that they can pass on to their offspring in due time. Those were the days when taxes were manageable and cash overflowed. Today, “manageable” means keeping your house and “struggle” means maintaining two.
Due to the economic struggle we all face today, having two houses at the same time is not practical and can definitely give a senior a hard time—more, later in life. For one, there’s the need to always set aside money for medical expenses and even if you live a healthy life, there will still be things you need to pay for in order to retain your healthy body. While retirement houses is not at all ridiculous to acquire nowadays, most seniors find themselves in a so-called “crossroads” where they need to choose between an adequate retirement community and your current house you’ve grown to love. Finding a new house is easy, even exciting at times but selling your home, even if it seems easy enough is also hard work and requires a lot of effort from your part.
When selling your home, you can either sell it yourself or use a broker. If in the past, someone expressed interest in buying your home, you can give them notice before deciding to go for a broker. Of course, selling the house yourself is the easiest way out IF there’s an existing buyer but for many others, the best route to go is using a broker especially if the house needs some more advertising. A broker can help you set a reasonable price for your home—enough to compensate for your lost, and also, he or she can help you pinpoint parts of the house that need “touch ups” . Try to get a broker that you are most comfortable working with and make sure he or she is indeed a broker who already sold homes in your area. To know this, you need to interview a couple of them prior to selling your house. Ask for referrals too, and check them.
Preparing your house for sale involves fixing things up and setting the place to make it more inviting to the eyes of the buyer. Your broker can help you with this by giving you a “third party” point of view and when they do, make sure you respect their opinions. Have house damages fixed even before a potential buyer visits the house. Remember, if you want the house sold in record time, eliminate all possible hindrance—defects are certainly one of them. Of course, keeping your house clean at all times is a must!
Research about how market value works. In a nutshell, it applies to family houses only. Do take note that the market value of your house may go up or down depending on the market’s pulse. There are three main elements in knowing your house’s market value: neighborhood, current condition of your house and the amount of time it stays “for sale”. The faster you sell your house, the better. Do consult neighbors and family members as well but always take their advises as a suggestion only. In the end, it should be between you and your broker—you being the seller and the broker being the “guy from inside”. After considering these elements, and more or less you have a reasonable price in mind, have a talk with your chosen broker to determine if indeed this can work. If somewhere along the line, you felt uncomfortable, it’s still your right to bail out. However, when a situation calls for your signature, make sure there’s another person on your side who can assist you in examining a paper for your own safety and protection.
