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Selling For Retirement

June 8th, 2015 by Geoff Baldwin

By the time you reach retirement age, the family home is usually too large and the gardens too difficult to maintain, which prompts the decision to consider selling and moving into something smaller.

There are many options available, such as a duplex half, a home unit, apartment, or perhaps your name is now at the top of the list for a retirement villa in a church or residence funded retirement village.

The decision to relocate in retirement is one that should be carefully considered. There is certainly no need to rush into smaller accommodation if your health and lifestyle make this move unnecessary. Regular retirement seminars and study papers are available which will assist you in making a final decision.

Here are some hints that may help:

Have your local RE/MAX agent carry out a free market appraisal of you present home to establish its realistic worth.

Have your local RE/MAX agent arrange inspections of properties that may fit your retirement needs and also verify how much it will cost you to relocate. If the sums add up, then only accept an offer to purchase your existing property if a special clause is added to give you time to confirm and complete your purchase. This will ensure that if your sale or purchase cannot be concluded then you will not find yourself out of house and home.

Care should be taken if you are contemplating the purchase of a retirement villa in a planned village concept. Some developers are offering home units with the popular title of “retirement village”. A true retirement village should be convenient to shops, transport, have on-site medical staff and provide you with security of title and the ability to re-sell later. It is wise to carefully examine the contract, or have it explained to you by a qualified person, e.g. a solicitor.

Your local RE/MAX agent is well placed to assist you in the whole process of seeking out information, locating your retirement property and selling your existing home.