By Sherie Broekema
AS SENIORS WE HAVE MANY NEW CHOICES. SENIORS NOW HAVE MORE LIFESTYLE AND REAL ESTATE OPTIONS THAN ANY AGE GROUP.
WE WANT TO BE INFORMED AND GET ANSWERS ON THE BENEFITS AND DRAWBACKS OF EACH ALTERNATIVE. WE WANT TO BE IN CHARGE OF OUR CIRCUMSTANCES OR HOUSING CHANGES.
3 STAGES OF THE SENIOR HOUSING PHASE YOU MIGHT TALK TO US ABOUT.
- Selling a large home in preparation of moving into an appropriate home for the senior years.
- Buying the best home in which to spend our active senior years.
- Selling their individual senior home and preparing a move to “Independent”, Assisted or Memory Care Home..
Some important factors to consider in these choices:
Capital Gains – Federal Tax law now allows a $250,000 for a single person and $500,000 for married couples capital gains exclusion on a primary residences if you have owned it for two years. Consult with your Tax Advisor.
Selling your Residence – A single family home, a townhome or condo.You could be changing the type of housing you will live in with anticipation of your senior years. Make sure you hire a qualified Realtor to get the maximum market value when you sell. Because I care for seniors I have Senior Resential Specialist training. If you are purchasing your “later years” home in which you will live as long as possible, make sure you are buying a property that will have a good market value and be easily sold when you or your heirs dispose of it. Or, that it will make a good rental property if you or your heirs keep it when you move out.
Staying at Home – If you intend to stay in your current or new home until the absolute last minute talk to your Financial Advisor or tax advisor about asset preservation.
When you are ready to talk, call me. I will help to guide you through the process of selling and take care of all the details for you. 520-918-5462
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