By Jule’ Dunham
This week’s topic – “Seniors – Should I Buy a Home at this Point?”
This is a very important question we must ask ourselves. I know that I have touched on this subject before, but I feel it is a very important subject to consider.
There are important issues that need to be addressed. Can you do the day to day upkeep on your home? Can you maintain the lawn and repairs on your home?
If you can, that’s great indeed. I am a do it yourselfer. Personally, I am not interested in doing repairs myself so much anymore. On the other hand, I do not like people coming into my home with whom I am not familiar. Well, now, I can’t have it both ways. So, at some point I will have to make a choice.
We do get set in our ways, don’t we? There does come a point, however, that we must make some compromises.
Finding the right home can be a challenge. There are numerous questions that you must ask yourself. Are you wanting a smaller home? What kind of home can you afford? Would you like to live in a specific neighborhood? Would you feel more comfortable in a condo, beach house, near your grandchildren? Do you need handicap accessibility? Would you consider buying a place in a senior living facility? Would you consider a small home on your son or daughter’s property? These are all very important things you must consider. Take your time and think it through.
Your budget is to be considered first and foremost. This will determine what you can actually afford. I cannot begin to stress this enough. This will help keep you from being disappointed in the long run.
Looking at homes you simply cannot afford and then having to bring it down a notch can make you feel defeated. Just do not set yourself up for failure from the very start. Knowing your budget will allow you to make more informed and wise decisions.
Get with an SRES realtor and for goodness sake use a local lender. An SRES (Seniors Real Estate Specialist) realtor can help you in so many ways.
They are required to take continuing education in order to better serve you. Local lender means a lender (bank, mortgage company, etc.) where you can walk into their office and see them eye to eye. That is one of the most important things you can do for yourself.
Please take some time this week to consider these questions and suggestions.
Make a list of what you really need, then a separate list of what you want. Be sure to make a pros and cons list of the various choices mentioned above.
I will continue next week with more information about buying your home.
Should you have a topic you would like addressed, please feel free to contact me.
Thank you for reading my column and have a blessed week.
Here is your local realtor, Julè Dunham, signing off until next week.
Julè Dunham, Affiliate Broker, SRES. Contact her by phone at 901-828-8471 (cell) or 901-840-1181 (office) or by email to: email@example.com for an appointment to speak with you, your group or club.