Over the past decade, reverse mortgages have been aggressively pitched in TV ads as an easy way for seniors to cash in their home equity to pay for living expenses. In reality, reverse mortgages can be a good option for seniors in certain economic situations, providing greater financial security and allowing them to age in place. In other circumstances, it could potentially create financial distress and keep seniors trapped in a home that no longer suits their physical needs.
Are you considering downsizing, but the thought of sorting through decades worth of possessions and packing up your home stops you dead in your tracks? To help you get the process jumpstarted, you may want to seek out a secret weapon.
Our Market Ready Guide provides strategic advice and useful tips to get top dollar for your house when the time comes to sell.
Are you a senior, or an adult child of a senior, who has procrastinated on downsizing because it just seems too overwhelming or intimidating? You have accumulated a lifetime of memories and personal possessions that you don’t want to lose. Yet, it has become harder to maintain your current home and the neighborhood has undergone a generational turnover, with older friends and neighbors selling their homes to younger families. To give you the spark and motivation to downsize, or as we like to say, open the door to a new season of life, check out our new “Senior Moments” series as aired on The Eric Stewart Show.
Meet the Realtors® from the Eric Stewart Group of Long & Foster at the upcoming Beacon 50+ Expos, taking placing in Silver Spring, MD on Sunday, October 18 at the Silver Spring Civic Center and on Sunday, October 25 in Arlington at the Ballston Mall. Both events will be held from 12pm – 4pm.
Andrew Carle is an award winning professor and Executive-in-Residence and Founding Director of the Program in Senior Housing Administration at George Mason University in Fairfax, Virginia. On a recent segment of Eric’s radio show, Andrew provides insight on the future of retirement communities, and how they will follow in the diversification footsteps of American icon, Coca-Cola.
The article, How Downsizing Can Save Your Retirement, in the September issue of Money magazine, covers the top four reasons why retirees downsize and four questions to address to avoid financial mishap when moving from one residence to another.
In a previous blog I discussed rightsizing and a process for evaluating your overall well-being to determine your preferable future. Once you have decided what you want your future to be, the question becomes do you age in place or find a new home to help you achieve those goals? Consider these five factors to help you decide.
As we get older, downsizing to a smaller residence is typically inevitable. However, downsizing can be particularly intimidating for seniors who may find it overwhelming to think about letting go of cherished memories and items they’ve accumulated over a lifetime.