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Are There Benefits for Seniors When Selling Their Homes?
Dated: September 11 2022
A survey by Varsity Branding says that of those seniors who'd consider selling their homes, 44.5% do so because of their own or their partner’s health, 30.6% want freedom from home maintenance, and about 30.5% want to enter a community. That being said, here are some benefits that almost every senior enjoys:
Downsize and Simplify Your Life
One of the biggest benefits of selling your home at this age is that you'll be able to downsize and simplify your life. As we get older, we often find that we don't need as much space as we once did. If your home is too large for your needs, selling it and downsizing can be a great way to simplify your life. Selling your home can also help you declutter and get rid of items you no longer need or use.
Save Money for an Active Senior Lifestyle
Another great benefit of selling your home as a senior is saving money. If you downsize to a smaller home or condo, you'll likely have lower monthly expenses. You won't be dealing with a costly mortgage every month, and this can free up some extra cash each month to help fund your active senior lifestyle, pay off debts, and save for the future. Whether you want to travel more, take up a new hobby, or simply enjoy your golden years, having extra money can help make it happen.
Get Rid of Maintenance and Repair Needs
An average homeowner spends about 90 minutes per day on their home for maintenance. When you own a home, there's always something that needs to be fixed or updated. This can be costly and time-consuming, especially as you get older and your home requires more maintenance. By selling it, you can eliminate these repair and maintenance needs and use that money and time for other things.
Reap the Rewards of Your Home's Equity
If you've lived in your home for a while, chances are that it's gone up in value. This increase in value is known as equity, and it can be used in several ways. For example, you can use it to buy a smaller, more manageable home or to supplement your retirement income.
Looking to Sell Your Home as a Senior in Southport, NC?
If you're a senior citizen looking to sell your home in Southport, NC, Margie Mueller can help! We specialize in working with seniors like you to get the best possible price for your home and help you enjoy the lifestyle you deserve. Contact us today at (214) 232-8296 to learn more about our services!
I am so Lucky to be in Real Estate! Wife of 33 years and mother to 3 boys, I know what hard work is! I enjoy the complexity of real estate and the ever changing market we find ourselves in these days....
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