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Should You Sell a Parent’s Home Before or After a Move to Senior Living?

Questions & AnswersCategory: QuestionsShould You Sell a Parent’s Home Before or After a Move to Senior Living?
1 Answers
SLE Staff answered 9 months ago

Should I Sell My Home Before or After Moving to Senior Living?

Your loved one has decided it’s time to downsize and move into a senior living community. Not it’s time to decide whether to sell the house before or after they move. There really is no right or wrong answer but there are pros and cons to both decisions.

Selling the House Before the Move

Pro: Finances – Houses are typically huge financial assets. You may need those finances to help with the move. Although liquidation of other assets is available sometimes the peace of mind in not being financially responsible for a house can be an added bonus.

Con: Downsizing and Keeping the Home “Show-Ready” – Trying to downsize and pack up your things all while trying to keep the house clean and pristine for those open houses can be downright exhausting. Potential buyers may understand your circumstances but clutter makes your home less appealing.

Con: Open Houses – Open houses can be disruptive. Realtors don’t give you much notice and it can happen at all hours. Most potential buyers work so they schedule their viewings early mornings or in the evening. Finding somewhere for your loved ones to go, especially if they no longer drive, can be an inconvenience.

Selling After the Move

Pro: Staging – If you wait till after your loved one has moved you are able to make all the necessary repairs and changes needed so that you can get the maximum offer on the house. You are also able to stage the home to make it look more appealing to potential buyers.

Pro: Less Stress – Without a buyer’s deadline you’re able to move at your own pace. You can spend some extra time with your loved ones reminiscing while you pack and go through memorabilia. This also allows you the time to plan on how you want to decorate your new living space.

Con: Financial Consideration – If your home takes a little longer than expected to sell you may be left with unexpected expenses. While your home is on the market you may need to keep the utilities going and that can add up.

The bottom line is you need to weigh out your options and find the best solution for you. Senior Living Experience is here and is a one-stop-shop concierge service for all your senior transitioning needs. When you choose us we will assign you your very own Senior Real Estate Specialist who will help come up with a specific plan for you and be there to assist you every step of the way. Give us a call today!

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