Tips for Selling Your Home to Pay for Assisted Living

Board care for elderly may require selling a home.

Photo used under Creative Commons from Casey Serin.

When they decide to make the move to assisted living, for many seniors selling their home makes a lot of sense. They have likely accumulated a great deal of equity during their ownership, and now no longer need this residence since they’ll be living somewhere else. But selling a house in today’s market is often a challenge. Below are some tips on how to make this process easier, so that you can more quickly move on to a new stage of your life.

Keep Tabs on Your Agent’s Work

While you will probably hire a real estate agent to sell and show your home, it doesn’t mean this agent will necessarily do a good job. So after they’ve listed your home, go online and see if potential buyers can find it easily, going back to check again on a weekly basis. See what pictures have been posted and if you agree with the description of the home itself. Tell your agent to change it if you don’t. They work for you.

Post a Love Letter on YouTube

The video sharing site can work to your advantage when selling your home, as you may have lived in it for decades and can talk candidly about why it is such a great place. Have a family member video tape you or do it yourself and show your home from a very intimate perspective. This will be helpful to your real estate agent and to prospective buyers when they are trying to make a decision.

Make Necessary Inside Fixes

All those little maintenance issues will need to be fixed. New paint, appliance repairs, light switches – tackle the things you have been putting off for years because you can live with them. Your home needs to be in the best shape possible for buyers, much like a car needs to be perfectly clean and waxed before you sell it. These improvements can always be folded into the overall sales price – and may even raise the value of your home beyond their cost.

Up the Curb Appeal

First impressions go a long way. So just as repainting and doing small bits of maintenance around the house are helpful for the resale value, so is the exterior landscaping. Have a good yard crew come in and mow the lawn, plant a flower garden, and trim the trees so when that eager new family shows up to buy their first home, your place will charm them as much as any they have seen.

Know the Right Price

Learn what other homes similar to yours are selling for in your area and have a good idea of your property’s worth. Pricing a home too high will just waste time and money and add stress; however, pricing too low will just leave money on the table. Do your research with the help of a real estate agent and make sure you price your home in exactly the right range so that it will sell quickly, but not cheaply.