Moving to an independent living residence like Ring House or Revitz House at Charles E. Smith Life Communities (CESLC) doesn’t mean giving up your freedom; it could actually be the start of your next best chapter.
Independent living offers the opportunity to enjoy maintenance-free living, a vibrant social life filled with daily activities and events of your choosing, and the freedom to design your days around what’s most important to you.
Is Now The Right Time to Sell?
Deciding whether to sell your home is a big decision and timing is an important factor. According to Zillow.com, May has historically been one of the best times to sell, but it’s important to consider other factors as well, including current market trends, your financial position and your overall readiness to move.
“If someone wants to transition to a retirement community, they should certainly think about the transition at least a year ahead,” says Alex Seleznev, a financial planner and founder of Maryland-based Capital Squared Financial. “You don’t want to be forced to make this move as it’s not likely to be the most optimal approach.”
If you are thinking about a move within the year, you can consider working with a financial planner to review your finances and begin researching and touring communities that may be a fit for your lifestyle.
“One of the common mistakes is underestimating how much it actually costs to stay in your house,” Seleznev adds. “The averages you find on the internet are not reliable. You need to do your own research and understand how much you will need to spend on making your house aging-friendly and what it would cost if you have aides in your home.”
In a realistic analysis of the cost of aging-in-place, you may discover that the cost of moving to an independent living residence is less expensive, after factoring in potential home modifications, maintenance costs, property taxes and more.
Charles E. Smith Life Communities has developed a helpful toolkit to help you evaluate the true cost of staying in your current home.
Preparing Your Home for Sale
If you have decided to sell your home, making the right updates can help attract buyers and increase your sale price. A real estate agent who specializes in senior moves may be able to offer advice on which changes to make.
“Simple updates and energy-efficient improvements can enhance market appeal and potentially increase the home’s value,” says Jan Brito, founder of Capital Senior Solutions.
Brito notes that though mortgage rates remain high nationwide, if you are based locally in the Greater Washington area there is still strong demand for single family homes, with limited supply. But she cautions, “Remember that all real estate is local – even to the zip code – so [sale prices and ease of sale] can vary neighborhood by neighborhood – school district by school district.”
Take the Next Step – Schedule a Tour Today
Independent living at Charles E. Smith Life Communities is a supportive environment, designed to enable older adults to thrive while promoting healthy aging. If you’re considering a move, we invite you to come experience it for yourself.
Schedule a tour of Ring House or Revitz House today and discover the new lifestyle you deserve.
