More and more baby boomers are arriving at retirement age and are facing the question: “To sell or to stay?”.  A wise step to take at this juncture is to evaluate your home’s ability to adapt to your retirement needs. Below are some of the factors that a National Board of Realtors have suggested:

  • Affordability:  Would moving to a property with HOA dues offset the overhead of maintaining your own home?  Would your taxes go up or down? Would your monthly retirement income be enough?
  • Equity:  The equity in your present home may be enough to purchase your retirement home with little or no mortgage.
  • Maintenance:  As we age, we have less tolerance and stamina to handle the day to day maintenance a home requires.  Perhaps a condo with an HOA fee would be worth the peace of mind.
  • Security:  As we age, we are more concerned than ever about our security.  Having a gated community with 24-hour security can be a great comfort.  An extra set of eyes looking out for you can provide a much-appreciated sense of well-being.
  • Pets:  More and more rentals ban our pets.  This is another reason to own in retirement.  Consider your furry friend when making the decision about where to live.
  • Mobility:  While you may still be agile and active when you make this decision to move, keep in mind that down the road you might need assistance.  We hate to think of ourselves needing accommodations for our fragility, but it will make sense if the time comes. Consider the home layout and be certain it can adapt to your possible future needs.
  • Convenience:  How close do you want to be to family and friends?  The amenities you use most often should be near enough to make it convenient to access them without difficulty.

As you begin your evaluation, start with your current house and consider its ability to adapt as you age.  Then decide what course of action makes the most sense regarding your living situation in retirement. If you need help with financing, Sun Pacific Mortgage is here with alternative programs to assist you in purchasing or refinancing your dream retirement home.  Feel free to call us at 707-523-2099 with your questions and scenarios. We are happy to support you as you make this momentous decision.

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Best, Forest – The Guy in the White Hat
Hard Money Broker and Co-Owner of family owned and operated Sun Pacific Mortgage & Real Estate, serving all of California since 1988! 707-523-2099   www.sunpacificmortgage.com
CA DRE license #010005559 and NMLS #289456

 Note:  Get our financing despite bad credit, difficult to prove income, property a fixer, etc.!  We finance Jumbo loans, Bridge and short-term loans, Owner Occupied purchases and refinances, investment purchases and commercial.

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