Intro In the world of estate planning, the question of whether seniors should place their new home purchase in a trust is increasingly pertinent. As seniors downsize or relocate to meet their changing lifestyle needs, understanding the implications of placing a new home in a trust becomes crucial. For many seniors, a home is not just a significant financial asset but also a repository of family...
Intro As retirement looms on the horizon, the thought of purchasing a home that suits this new chapter of life becomes a prevalent consideration. Whether it’s the allure of a quiet suburb, a sunny beachfront, or a cozy cottage in the countryside, finding the perfect home to spend your golden years in is a significant step. Making the move pre-retirement involves not just financial preparation but...
Introduction In an era where the narrative around real estate is predominantly youth-focused, it's easy to overlook a demographic that is making significant strides in the market: individuals over 50. This age group is proving that when it comes to purchasing your first home, it's never too late. Far from being at a disadvantage, this cohort brings to the table a unique set of advantages that can make...
With a solid grasp of your financial standing, you're now ready to develop a budget for your new residence. A realistic budget extends beyond the initial purchase price of the property. It should also account for continuing expenses such as home insurance, property taxes, maintenance costs, and utilities. These are recurrent expenditures that must be met and should therefore be factored into your budget....
Are you curious about what 55+ communities really are? They are more than just housing developments for people who have reached the golden age of 55 and beyond. Often called age-restricted or active adult communities, these are meticulously planned neighborhoods to accommodate the unique needs of the senior populace. Think of them as an all-in-one package, providing everything from housing to recreational...
The Top Benefits of Buying a Multi-Generational Home Has the idea of sharing a home with loved ones like your grandparents, parents, or other relatives crossed your mind? If so, you’re not alone. More buyers are choosing to go this route and buy a multi-generational home. Here’s a look at some of the top reasons why, to see if a home like this may be right for you too. Why Buyers Are Opting for...
Is it Time to Move into a Single-Story Home? Once the kids have left the nest, you may be wondering what to do with all of the extra space in your home. Chances are, you don’t need four bedrooms anymore, and it may be a great time to sell your house and downsize, maybe even into a single-story home. You’ve likely gained significant equity if you’ve lived in your home for a while, so making a...
Does “Aging in Place” Make the Most Sense? A desire among many seniors is to “age in place." According to the Senior Resource Guide, the term means, “…that you will be remaining in your own home for the later years of your life; not moving into a smaller home, assisted living, or a retirement community etcetera.” There is no doubt about it – there’s a comfort in...
Should Baby Boomers Buy or Rent After Selling Their Houses? Are you a baby boomer who’s lived in your current house for a long time and you’re ready for a change? If you’re thinking about selling your house, you have a lot to consider. Will you move to a different state or stay nearby? Is it time to downsize or do you want more space to accommodate your loved ones? But maybe the biggest...
Planning to Retire? It Could Be Time To Make a Move. If you’re thinking about retirement or have already retired this year, you may be planning your next steps. One of your goals could be selling your house and finding a home that more closely fits your needs. Fortunately, you may be in a better position to make a move than you realize. Here are a few things to think about when making that...