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Resources for Seniors

4 Ways to Maximize Your Home’s Value for a Better Retirement

Your home is the setting for many cherished memories, but there comes a time in most people’s lives when they have to decide whether their home is still worth the maintenance and upkeep. Some older adults also find their priorities change as they enter their retirement years. Things like traveling, pursuing hobbies and meeting new people may take priority over time at home.

Of course, seniors who are looking to sell their homes want to get the most out of their investment. Here are some tips for selling your home and maximizing its value.

1. Evaluate the Market

The first thing you’ll want to do is evaluate your local real estate market and determine whether it’s a buyer’s or seller’s market. If you’re in a seller’s market that means it will be easier to sell your home for more money. Whereas if you’re in a buyer’s market home prices are typically lower.

You’ll also want to think about the timing of when you are listing your home for sale. According to Zillow, March home listings tend to sell the fastest while July is the best time to maximize profit. That said, you cannot always control when you need to put your home on the marketplace.

2. Prepare Your Home for Sale

Are there any necessary repairs you have been putting off on your home? Now is the time to make them if you’re looking to sell your home and maximize profit. Take stock of the necessities and focus on fixing those up first. These may be deal breakers for people looking to buy.

You’re also more than likely going to have to downsize your belongings ahead of a move. The earlier you start the downsizing process the better. Enlist help from family and friends if you are able to and work through one room at a time. Have a system in place to help you sort your things into labeled containers to help determine what you want to keep, sell, donate or get rid of.

Making repairs and downsizing will both help maximize your home’s value.

3. Choose a Real Estate Agent

Finding a real estate agent that has a knowledge of the local market and that you enjoy working with is not always easy, but do your research and things should turn out all right. You may also want to ask family and friends if they have any referrals for trustworthy and reliable agents.

A good real estate agent will help you identify any updates or repairs you may need to make before you list your home and they can also provide input during the staging process.

4. Stage Your Home

The goal of home staging is to prepare your home to sell in a way that appeals to the most potential buyers who are willing to pay the highest possible price. The living room, kitchen, bathrooms, bedrooms and outdoor living spaces are all important areas to focus on.

Even things like cleaning or replacing appliances can make your home more appealing to potential buyers. Consider getting a second opinion on the vibe your home is giving off. Some studies have shown that staging a home can help increase the sale price by up to 20%.

Experience Sophisticated Living at Harbour’s Edge

Harbour’s Edge is a senior living community in Delray Beach, Florida, that provides the setting, services and amenities to help you live your best life while pursuing your favorite hobbies and interests. Contact us or complete the form below to learn more about our senior living community.

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