Posts Tagged “Senior Home Listings”
Planning Your Best Real Estate Move
Throughout Canada, particularly in Toronto, house prices are out of sight, which makes it favorable for sellers and challenging for buyers. In Nova Scotia, prices have been falling, while sales have been rising. As a Halifax resident ready sell your home as part of a retirement strategy, what should you do?
The Housing Situation In Nova Scotia
Due to a low inventory of available homes, prices in Toronto for single-family detached homes have skyrocketed by 27% in November, 2015 as compared to last year. This puts first time buyers and even those trying to downsize in a difficult situation. In Halifax, housing prices have dropped by 4.67% in the past year, while home sales have increased by 19%.
The area remains fairly affordable although affordability varies by neighborhood. Pricing in Dartmouth,. for example, is vastly different than in Halifax South, which makes it harder to find a home in a more affordable area than in a more exclusive one.
Planning Your Best Real Estate Move
What should you do might vary depending on whether you are a Baby Boomer planning ahead for retirement or a retired person ready to sell your home to downsize to a smaller home or become a renter in an apartment complex or assisted living?
Given the peculiarities of the Halifax market, you should call me, a seasoned Realtor®, early in the game. I can show you the comparable sales figures for different areas of the city and help you assess your chances of selling and devise a pricing strategy for you.
You may also want to bring your financial advisor in on the discussions fairly early in your thought process. There are no certainties in the real estate market. If you are ready to make a move now, you may be able to add a lower price than you might have hoped. Your advisor might suggest that you wait out the cycle in hopes that prices will rise if you are a baby Boomer in your fifties or a retiree in good health with no urgency to move.
What Are Your Post-Retirement Plans?
What you do depends on what your plans are. If you are ready to buy another home in the Halifax region, you may get a deal as a buyer that offsets the compromises you might have to make as a seller. If your plans involve buying in another province, you may be caught up in the higher price cycle seen throughout Canada, your advisors might tell you to hold off
If you do want to move now, having a correct pricing strategy in place is important to ensure that you receive the maximum price for your house. I can help you price your home so that even after negotiation, you get the most you can. I can even advise you as to improvements you might make to get the best value.
Whether you are buying or selling or both – I am happy to help you fulfill your housing plans in 2017.
If you are ready to sell your home for maximum value, the best place to start is by clicking here and scheduling an appointment.
Roy Thomas SRES® (Senior’s Real Estate Specialist) is a REALTOR® with Sutton Group Professional Realty. Since 1991, Roy specializes in helping retirees with their later in life real estate transactions. Call Roy at 902-497-3031 or contact Roy here
For many seniors, the recent holidays have meant opening up your big family home to family and friends who flocked in to enjoy your Christmas or Hanukkah treats, exchange gifts, watch sports ,and enjoy each other. If you are thinking of downsizing, you may be nostalgic about this possibly being your last holiday season in your home. Even if you are staying put, you may not be up to hosting the holidays as you age. Great things are ahead for you, but now is time to talk with your family about how to make future holidays just as festive.
Meaningfully Trim Down Your Decorations
Whether you are looking toward assisted living, buying a new home, or renting an apartment you are likely to have less space for holiday decorations. In moving from one place to another it is also possible that even if you moved somewhere with the same square footage, all the decoration you used would not fit the same in your new space.
Make this the year you part with some of your favorite decorations and let your children and grandchildren include them in their own celebrations. You will have the triple benefit of making them happy, being able to see something familiar when you visit their homes, and have less to move.
Request Your Complimentary Copy of My
“Preparing to Downsize” Report
Share Hosting Duties
If you have not already shifted the hosting duties for holiday dinner to others in the family now is the time to plan for it. Even if you have a crew of helpers who come in to help you get things ready, it is still stressful to always play host. When you talk about this with your family, you may find that your children or other relatives will step up to take turns with dinners. You might plan some future holiday gathering at a restaurant or in the club or party room of your new apartment.
Part of your holiday hospitality may have included putting up relatives at your home. This might not work out If you have a small new place. Even paying part of a guest’s hotel bill is less costly than staying in a home that is too big for you.
Discuss The Future
The holidays may be the first time that you speak honestly with your children – or they with you – about your decision to move, or even your need to do so. This discussion is a good time to determine what you need to do to get the house ready to sell. Even without talking to me, as your Realtor®, about upgrades that will make your home command a better price, you can consider the obvious decluttering, cleaning, repair, and freshening up that needs to happen. With plenty of advance notice, you can determine what family members can do and what needs to be hired out.
After your preliminary discussions with your family, the next move after the holidays is to call me. As an agent who loves to work with Baby Boomers and seniors, I can help you sell your current Halifax-area home and even buy a new one.
Looking to sell your home? Give me a call today.
Find out what homes in your neighborhood are selling for. Free monthly report by email showing current listings, recent sales & market stats. Go to www.HalifaxHomebeat.com
Roy Thomas SRES® (Senior’s Real Estate Specialist) is a REALTOR® with Sutton Group Professional Realty. Since 1991, Roy specializes in helping retirees with their later in life real estate transactions. Call Roy at 902-497-3031 or contact Roy here
Ready to retire and sell your home? Pricing it correctly is important to getting the most money from it, but determining the value can be a challenge. If you have lived in your home for a long time, kept it in good shape, and even upgraded it, you may not have a realistic view of its value.
Avoiding The Taj Mahal Syndrome
Many homeowners are afflicted with the Taj Mahal Syndrome, the misguided belief that their home is much better than similar homes. Often, they make this assessment based on factors that do not equate to increased value. For example, owners may look back over their years in the home and remember the years they raise their children there. They let emotional factors inflate the value to others, which leads to overpricing.
In preparing to sell their home, many people clean and paint it and undertake renovations to make the place more inviting to potential buyers. Sometimes what they spend money on repairs and maintenance items that they should have done periodically over the years. Repairing peeling paint and cracked bathroom tile and faucets are necessary to bring the house up to basic standards and local codes, but these things are not renovation costs that can be passed on to new buyers.
Improving a home with upgraded windows, remodeled kitchens, and new flooring does not usually result in a dollar for dollar increase equal to what you expend. While real estate shows on TV often show that putting money for renovations results in increased value, studies conducted on the resale value of improvements shows a varying rate of return that is always far less than 100%.
Using Professional Home Valuation Tools
Real estate agents and appraisers traditionally use “comps,” comparable values of other homes in the neighborhood, to help determine the value and subsequent best price for your property. By going into information found on the local MLS, the professional can see how much other homes of similar size, condition, and location sold for.
The assumption is that the value of a home is what others are willing to pay for it. Comps do not take in mind any unique attributes that your house might offer. An extra bedroom, a larger footprint, a remodeled kitchen, a big garage, and other amenities impact might what buyers are willing to pay. In addition, a home located in a popular neighborhood with a great school system at a time when no other properties are available might bring in increased price.
Online Tools Lack A Realtor’s® Touch
With the rise of the Internet, individual sellers have access to many online tools just by plugging in information about their home. In addition, some real estate sites provide estimates of value, while offering information about other homes sold in the neighborhood.
Request Your Complimentary Copy of My
“Preparing to Downsize” Report
While any of these tools can offer you a ballpark idea of your home’s value, you need the expertise of a professional to provide the insights – and the honesty – that will lead to the most accurate pricing. I am always happy to look at your home, evaluate its condition, and measure it to other homes for sale or that have recently sold in your neighborhood.
I will devise a proper pricing strategy and when necessary, encourage you to be realistic about the likely price your home will command. While it will be your decision as to how much to list it for, pricing your home too high may delay its sale. When you are selling so you can run to the next chapter of your life, I will help you price pricing it accurately in hopes you will yield a fast, fair sale.
Roy Thomas SRES® (Senior’s Real Estate Specialist) is a REALTOR® with Sutton Group Professional Realty. Since 1991, Roy specializes in helping retirees with their later in life real estate transactions. Call Roy at 902-497-3031 or contact Roy here
Realtor’s® Tips To Increase The Show ability Of Your Home
Thinking about selling your home? You may have decided, after years of home ownership that you want to start fresh as you enjoy your retirement. Before your home hits the market, it is important to do some decluttering to make it attractive to potential buyers.
Over the years, your home has been your castle. One advantage of owning a castle is that you can decorate it however you like. When it is time to sell your home, you need to divest it of anything that might turn buyers off from thinking that it could be their home.
Realtor’s® Tips To Increase The Show ability Of Your Home
Here are some suggestions that most real estate agents offer to their clients:
- Remove extra or oversized furniture to make your home look more spacious. Moving is a good time to consolidate your possessions, donate what you don’t need, and replace some worn out items. For items that will go to your new house, consider renting a storage unit for a couple months. If you have oversized furniture that you think will work in your new home, send that to the storage unit and rent some pieces on a smaller scale, as you will see on The Property Brothers and other TV home phones.
- Eradicate clutter from your home to again maximize space. Make sure that there is a place for everything, while throwing out or donating what you don’t need. Consider using your storage unit to store items you need that do not require for daily life.
- Depersonalize your home. This means removing family pictures that can distract potential buyers. While a photo or two might make your place seem homey, photo walls can tell a story to buyers that makes them interested in your family and prevents them from seeing your home as one that potentially might theirs.
- Store your collectibles. Your train set might be distracting, while your extensive collection of teapots might make your home seem too cluttered. Since you will be dismantling these things when you move, get an early start by packing them up and taking the boxes to your storage unit, if necessary.
Request Your Complimentary Copy of My “Preparing to Downsize” Report
- Take down your sports memorabilia. That wall in your den that shows your loyalty to the Toronto Blue Jays or local team such as the Halifax Rainmen could offend a potential buyer with loyalty to a different team. Sports rivalries run deep and you don’t want to infuriate potential buyers.
- Minimize the presence of pets. While you should have pets contained, preferably off the property during home showings, you do not want buyers to be knocked over with pet smells, see an abundance of pet dishes or toys, or see evidence of pet damage. You may need to replace a stained, smelly rug or carpet or curtains full of snags from rambunctious kittens and sand and refinish doors and window sills that show signs of bites and scratches.
- Remove anything controversial. This might include mounted animal heads, art, photographs that contain nudity, or flags or posters that might be interpreted as racist or offensive to others.
Enlist An Impartial Third Party To Evaluate Your Home
While you might feel that you are hiding who you are by depersonalizing your home, it is important to remember that it is your house, not your lifestyle or personal preferences, that are up for grabs. Since it can be hard to objectively view your home, chat with your Realtor® Roy Thomas or with a stager who can help you get your home ready to show effectively.
If you are ready to sell your home for maximum value, the best place to start is by clicking here and scheduling an appointment.
Roy Thomas SRES® (Senior’s Real Estate Specialist) is a REALTOR® with Sutton Group Professional Realty. Since 1991, Roy specializes in helping retirees with their later in life real estate transactions. Call Roy at 902-497-3031 or contact Roy here
So, you are ready to retire from your full-time job. While you don’t have your retirement all planned out, you are thinking about moving south to a warmer climate. Even if you stay in the same area, you hope to travel. In either case, you must decide whether you should sell your home and buy something smaller, locate elsewhere, or consider renting.
Parting With The Canadian Dream Of Home ownership
Home ownership rates in Canada hover near 70%; property ownership rates are among the highest in the world. People love their homes for reasons that may have more to do with feeling the pride of ownership and the joys of providing a home for the family than economics.
For someone ready to retire, owning a home may be somewhat of a burden:
Ongoing costs. Even if your mortgage is paid off, maintenance costs continue to soar as the property ages, which can cut into a lessened retirement income, especially as costs can be unpredictable. Property taxes, homeowners’ insurance, and other costs continue as well.
Opportunity costs. Homes do appreciate in value, but many financial analysts suggest that the amount of appreciation is less than what you could earn on investments on comparable money you had in a taxable account. For many retired people, renting is an excellent option as rent and other costs are fixed, even though the rent will increase over time.
Smaller not cheaper. Some retirees find themselves in houses that are too big or not laid out conveniently as mobility diminishes. Downsizing to a smaller, one floor house may decrease available space and reduce maintenance costs, but smaller does not always mean more economical. If you buy a newer home, you may still pay a higher price to offset the need for maintenance.
Vacation hassles. In addition, buying a smaller house in the same area still leaves you with property you must vacate when you travel. When you rent, you can safely leave your property for longer periods of time with the knowledge that management or nearby neighbors will notify you.
Poor liquidity. Relocating to a different area where you think you may like to live may not be as permanent as you hope. Some retirees find that they miss home and family or discover that they don’t enjoy living in Florida or another location they thought might be their dream. Buying a home involves costs that take about five years to get back, while making you less liquid. If you find that you want to return home or that you quickly need the money to relocate into assisted living earlier than expected, you may take a loss on your sale or find it takes a long time to sell your home.
What Is Your Future?
Some seniors find that continued home ownership is the best financial decision for themselves, but it pays to carefully consider whether renting would serve you better in retirement. Before you make a housing decision that will affect your future, consider your goals, talk to your financial advisor, and then give me a call about selling your home or buying a new one.
Roy Thomas SRES® (Senior’s Real Estate Specialist) is a REALTOR® with Sutton Group Professional Realty. Since 1991, Roy specializes in helping retirees with their later in life real estate transactions. Call Roy at 902-497-3031 or contact Roy here
When you are ready to move to a condo, there are a few basic questions you should ask
If you are ready to downsize from your family home, you might not be ready to be a renter. Condominium living offers many of the benefits of home ownership without the lawn care, snow removal, and maintenance. For many seniors, condominium living also puts a great support system in place, along with interesting activities. They offer a new start in a more compact place that starts out with less clutter and more freedom.
What Condos Offer
While the amenities between condo complexes may vary, all offer some of the same benefits, in addition to minimal maintenance:
You can choose the style. With new construction or older buildings that have been converted to condos available, you can find a new home in the style you want. Your community may have specifications on exterior paint colors and modifications to make sure that the outside style does not change.
You will have neighbors close by. This can give you a sense of community, and the comfort that someone is nearby if you need help. While you might still be working and independent when you move to a condo, you may rely more on your condo neighbors as time passes.
You will have better security. Depending on where you choose to buy, your community may be gated or you may have a security guard on duty at a gate or at a desk to screen visitors and prevent intruders.
Major repairs will be taken care of by your Homeowner’s Association. While you pay for these through a monthly fee, you will not be caught off guard by surprise repairs. Occasionally, the board may assess you for your share of major repair, but as a homeowner, you are aware these charges are coming.
Request Your Complimentary Copy of My “Preparing to Downsize” Report
Questions to Ask About Your New Condo
When you are ready to move to a condo, there are a few basic questions you should ask:
Is the condo specially an over-55 or retirement facility? If you prefer to be with others your own age, you may want to aim for a building geared to senior living.
What is the monthly condo fee and what does it cover? Some fees just include basic landscaping and snow removal, while others include amenities and even heat. You should ask how often the fees go up.
Is the condo budget well managed? You should have access to documents that show the size of the reserves and that tell you if the condo is consistently over budget or under budget.
What amenities are on site? Some condos have golf courses, pools, workout facilities, and rooftop decks in addition to common areas.
Are there planned activities? If you are looking for a good way to meet your neighbors that does not require you to go far, activities such as bingo, game or movie nights, classes, book clubs, and more may interest you.
Does the complex allow pets? What are the limitations on type, size, and breed? Before you move in, you should make sure that the place permits your Great Dane or Pitbull or your five cats.
Are there limitations about visitors? Some over 55 communities do not permit you to have child under 18 living with you. You can have your grandchildren visit you, but not take them in permanently.
How have the condos been selling? This will tell you if your purchase will hold its value over time.
The best condo for you is one that is well managed, within your budget, and that accommodates your needs for community, activities, pets, and other lifestyle concerns.
Call Real Estate Professional Roy Thomas For Guidance
Especially if you are a first-time condo buyer, you need a good real estate agent to guide you so that you get an affordable condominium with reasonable fees. Realtor Roy Thomas can help you sell your current home, find a great new condo for you, and help you navigate the new world of condo ownership.
If you are ready to sell your home for maximum value, the best place to start is by clicking here and scheduling an appointment.
Roy Thomas SRES® (Senior’s Real Estate Specialist) is a REALTOR® with Sutton Group Professional Realty. Since 1991, Roy specializes in helping retirees with their later in life real estate transactions. Call Roy at 902-497-3031 or contact Roy here