Having Mixed Emotions
Buying a residence as a senior can be both exciting and daunting. The excitement stems from anticipating new beginnings in a fresh environment. It’s daunting because there are so many types of 50+ residences, finite resources and sometimes emotional hurdles to overcome.
Assessing Your Real Estate Options As A Senior
SRES® designees can sit down with you and your loved ones to discuss needs, outline options and help you determine the very best 50+ residence option for you. Then, working within the parameters you provide, they can locate a property that fits your needs.
SRES® designees leverage their senior education, experience and network to find properties, determine appropriate offers, and negotiate purchases on your behalf.
When necessary, they can tap a network of experts, such as home inspectors, movers, attorneys, and CPAs, to ensure that the purchase of your new residence, and the move, proceed smoothly.
Or, just call Joe Peters at 908-238-0118 to discuss your questions and needs. He can refer you to many local resources that can assist you as well.
Most seniors would prefer to age in place, but health and aging issues can prevent full access to the house. Raised thresholds and bathrooms represent fall risks, doorknobs become difficult to turn, and stairs are hard to climb. Seniors may feel trapped in certain areas of their homes, forcing them to consider moving when they don’t want to do so.
Accessibility and safety can also become issues when an aging parent moves in with an adult child, prompting a need for home renovations. It can be difficult for a homeowner to determine what changes are needed and how they should be made.
In these situations, your SRES® may be able to refer you to an aging-in-place specialist who can evaluate your home, find problem areas, and suggest home modifications. Certified aging-in-place specialists have been trained in:
- The unique needs of the older adult population
- Aging-in-place home modifications
- Common remodeling projects
- Solutions to common barriers
The answer may be as easy as adding grab bars in bath areas, flattening thresholds, and installing brighter lighting and higher toilets. In other cases, significant remodeling may be required to overcome the challenges of two-story living. An aging-in-place specialist can advise on which changes will be most beneficial and suggest cost-effective approaches.
Clarifying The Financial Picture
Need assistance with sorting out the complex decisions and figuring out what role your real estate investment plays in your overall financial picture? Those considerations include taxes, retirement savings withdrawal schedules, long-term care needs, inheritance issues and others.
SRES® Designees Have Financial Expertise For Seniors
SRES® designees understand managing capital gains and the tax implications of owning real estate. They can provide information that addresses a host of issues, such as the uses of pensions, 401K accounts, and IRAs in real estate transactions, and how Medicare, Medicaid, and Social Security affect real estate decisions for senior citizens. Are you or a loved one ready to talk real estate?