CHAPTER13 A Guide to Searching for the Right Home ht Home
Earlier, I talked a bit about picturing your new ideal home as you enter your senior years, and thinking about (and then writing down) your needs and your 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 hurt you now, or cost you down the road. House hunting might look considerably different today from what it was like when you last went shopping for a home, perhaps decades ago — which is yet another reason that it’s a good idea to hire a real estate agent to work alongside you throughout the downsizing process.
FIRST THING'S FIRST
We’ve talked about this a few times already, but you need to be financially and emotionally prepared before you head into the home-search process. It’s likely that since you’re selling your older, larger home to downsize into a smaller space, that you stand to make a profit and have some cash flow to enjoy in your retirement years. But you still need to have your finances in order and be pre-approved for a loan — remember, banks and other lending companies will lend out mortgages to seniors who are eligible, despite the myth that you can be “too old” for a mortgage. Also, make sure you’re financially able to cover items like down 112
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