CHAPTER 13 A Guide To Searching For The Right Home
Earlier, we talked a bit about picturing your new ideal home as you enter your senior years, and writing down your needs and wants when it comes to which features you expect, and which ones you would enjoy in your next home. Now we’ll get into how to search for the right home, and how to be prepared before you go house hunting so that you not only choose the right home to suit your new situation and future, but also that you can avoid expensive mistakes that could cost you down the road.
FIRST THING'S FIRST
We’ve touched on this already, but before you begin your home search, it’s important to be prepared—both financially and emotionally. In many downsizing situations, selling a larger, longtime home can result in equity or increased cash flow for retirement. However, outcomes vary, which is why it’s essential to have your finances clearly organized. If you’ll need financing, obtain loan pre-approval early. You’ll also want to confirm that you’re comfortably able to cover expenses such as a down payment, closing costs, monthly mortgage payments, property taxes, insurance, maintenance, and any homeowners’ association fees. Emotional preparation matters just as much. Letting go of a longtime family home can bring up nostalgia, uncertainty, and 91
Powered by FlippingBook