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Selling Your Home? Here’s What Seniors Need to Know

If you’re getting ready to sell your home, there are many factors to consider. Some of the most important are deciding when you should sell, how much to sell it for and how to get the best price for your investment. Here are some proven tips to help seniors navigate the process of selling a home. 

Decide When to Sell 

There are many reasons you may decide to sell your home. This can include wanting to live closer to family and friends, desiring a better retirement location or needing to downsize to a senior living community. Changes in health conditions can also be a factor for wanting to sell. Whatever your reasons are for considering a move, discuss your options with family or a trusted advisor. Together, you can review choices and start planning when to sell.

Hire a Real Estate Agent

One person to have in your corner before you start the selling process is a knowledgeable real estate agent. This housing professional can guide you through the many steps of selling and help achieve your goals. A real estate agent can list your property, accept offers for review, draft counter proposals and offer home selling tips and tricks. With a real estate agent, the selling process becomes much easier than if you were to try to sell your home by yourself. 

Evaluate the Market

One of the first steps a real estate agent takes is to evaluate the current housing market. The condition of the market will affect how much you can list your property for and how many offers you may get. If mortgage rates are high or there is an increased supply of houses for sale in your area, you may get fewer offers. This is known as the buyer’s market. But if mortgage rates are low, demand is high and supply is low, your home could attract a bidding war with multiple offers: a buyer’s market. With the right market conditions, you may get lucky and sell your house for a higher amount than your original asking price.

Plan Your Next Steps

Once you’ve evaluated the current market and decided it’s the right time to sell, you need to plan your next steps. The easiest way to plan is to create a timeline. It may be helpful to work backwards from your desired move out date. The timeline should include deadlines for completing home inspections, finishing repairs, staging, hosting viewings and packing. Give yourself a few days in between to take a break. Selling a home is a multi-step process and requires a lot of energy and patience. Taking a break a few days out of the week can help you decompress. 

Renovate and Repair 

Enhancing your home’s curb appeal can help it sell even when the real estate market is less than ideal. Focus your renovation efforts on how you can make your property stand out when potential buyers view it online or drive by your neighborhood. Painting, landscaping or replacing hardwood floors are common renovations homeowners will invest in to make their property ready for a sale.  

Consider making minor repairs in your home too. Perhaps it’s finally time to fix the leaky kitchen faucet or replace a closet door. These repairs and renovations can encourage your buyers that your home is in good condition. But don’t go overboard with these changes. You may risk spending too much on renovation and repair efforts and not being able to recuperate the cost in your selling price. 

Stage Your Home

In addition to renovating and repairing your home, there’s something else you can do to entice buyers to put in an offer as soon as they step in the front door: Stage your home. 

Staging transforms your home into an inviting space where buyers can imagine living their daily routine. Staging involves adding statement pieces, hanging up paintings, rearranging your furniture or swapping them out for rented pieces. Staging also helps your home look move-in ready and in good condition. Both are major factors in motivating buyers to quickly put in an offer for a home. 

Discover a New Lifestyle at  Friendship Village South Hills

Once the selling process is complete and you’ve handed the keys to the new owners, it’s time to start your next adventure. Now is a great time to consider relocating to an elite retirement community like Friendship Village of South Hills.  Residents here enjoy superior amenities and world-class dining experiences, weekly housekeeping, concierge services and more. 

Knowing you’ll be enjoying a care-free lifestyle soon can be good motivation as you go through the home selling experience. Stay positive and make smart choices through each selling stage. If you’re curious about the sophisticated lifestyle we offer, contact us, schedule a tour, or fill out the form below to learn more.   

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