Whether you’re retired or it’s on the horizon, selling your home and moving into a senior living community may be a smart choice in today’s climate. The big real estate boom has created a seller’s market.
While real estate experts and investors believe now is the best time to sell your home, this hot market won’t last forever. In fact, mortgage rates will begin to tick upward in the near future. If you’re looking to make a move–and a sale–now is your best bet.
We’ve got the inside scoop on why you should sell and use that money toward a new and better life in a retirement community in Walnut Creek, California.
Why is now a good time to sell?
Homes are selling at an alarming rate and those looking to move are jumping at new listings since they are selling so quickly. This is good news for sellers – for now. Some investors and real estate professionals are suggesting selling now rather than waiting because, while still low, mortgage rates are starting to slowly increase again. Mortgage rates are closely tied to 10-year Treasury bond yields, and they are beginning to spike. This means borrowing may be more expensive soon, which can discourage buyers.
So while there’s a high demand for homes right now and buyers are quick to submit high offers on homes, it may not be as beneficial to sellers in a year or even in a few months. If you’ve been considering a move to a Life Plan Community, taking advantage of the seller’s market can help significantly with your entrance deposit and monthly fees.
What are the benefits of living in a senior living community compared to my home?
One main benefit retired seniors enjoy about senior living communities is the convenience of having all your necessities right in your backyard. Everything you need is at your fingertips. You’ll no longer have the burden of making the trek to an appointment or to pick up medication – as everything is available on-site.
All the responsibilities that go along with owning a home disappear the moment you join a community, while all the benefits seem to remain. Many offer linen and housekeeping services so you can spend less time maintaining your home and more time focusing on the things you love.
What’s retirement like in a senior living community?
Senior living communities, particularly Life Plan Communities, offer residents plenty of options and resources to live the lives they choose. Independent housing allows residents the privacy they desire, while providing them with opportunities they wouldn’t have otherwise.
Like-minded individuals who hold the same values come together to make up a tight knit community of residents. You’ll have the opportunity to create a new group of friends by attending programs and joining groups to meet interesting people your age and nurture long-lasting relationships.
Your health and wellness will also be prioritized with nutritional dining options and access to fitness centers, sports clubs, and typically walking trails as well. On-site health centers ensure you’re taken care of no matter what level of care you need.
How do I find the right community for me?
Each community is different, so you’ll want to do your research to find one that fits all your desires and needs. Start by asking yourself about the location of where you want to retire and what you’re looking for in a retirement lifestyle.
Once you’ve looked into a location and settled on that area, check out senior living communities that exist there. Explore the campus, programs, and activities offered and take a deep dive into the amenities. If their services fit your needs and desires, schedule some time to talk to administration there to learn more about them and the residents.
What does Walnut Creek have to offer that other areas don’t?
Walnut Creek is a popular Bay Area retirement location with a bustling downtown where you can enjoy shops, restaurants, and other entertainment. It’s also centrally located with easy access to essential highways that make day trips to other cities a breeze.
Walnut Creek offers opportunities typically only found in larger cities, such as San Francisco, without the high cost of living and busy traffic. Small businesses and major corporations alike are thriving in Walnut Creek with residents of the area also reaping the benefits.
What if I don’t want to decide right now?
If you’re not ready to move right now, but you’re considering it for the future, it’s never too early to start the process. Don’t rush into a decision you’re not ready to make, but it is a good idea to look into your options. Remember that the housing market is hot right now and there is speculation it won’t last much longer. This may be the best opportunity you have to get a good sale for your home. Also consider the availability of senior living communities. Some residences reserve quickly, so you’ll want to jump on the enticing opportunities as they arise.
Viamonte at Walnut Creek is among one of the most desired locations to retire. Learn more about Viamonte by visiting our website or calling us at 925.621.6600.