If you’re wondering whether it’s time to move or stay, these two questions can guide your decision.
Hey there, friends! I’d love to share a conversation I just had with a lovely couple I’ve been talking with on and off for probably ten years.
He said his wife had been having health problems and they were discussing getting hospice involved.
He wanted to know, first of all, how to know when it’s time to move out of your house. For most people, there are two factors:
First, can you handle the upkeep of the home and yard and keep all that space functioning for you? Do you have the physical ability to do the work, or the financial ability to hire someone to do it? Even when you hire help, it still requires energy and attention.
Second, do you have the physical ability to manage daily life in your house? For many people, the biggest issues are too many stairs or an unsafe bathing situation. Some people simply can’t get into the tub anymore and need to change their space.
If you’re tired of those barriers, it’s time to consider a home that fits you better, whether a smaller, single-level place of your own, a senior community where you don’t have to worry about repairs and yard work, or, if you’re not ready for a senior community, perhaps an apartment. Those are some options.
I told him I can’t decide what’s right for him, but I knew he really wanted to stay in his home as long as possible, which had been their goal all along.
“Can your house still take care of you the way you once took care of it?”
His next question was:
How do you get the money to make this work? How do you make your equity work for you or otherwise use your house to help meet your needs? There are a few tools. I’m not the one who assembles them, but I have a team and connections to people who can help.
One option is a line of credit. It requires monthly payments, so you need to consider how to manage that.
Another option is a reverse mortgage if you have enough equity. In their case, they could access up to half the home’s value, which might give them what they need. They were thinking they might need about $100,000 for the next year to cover medical expenses and other costs, since healthcare and related needs can get expensive, and their house is paid off.
A line of credit can also be structured to provide those funds.
I’m honored to come alongside these wonderful people and give them resources to help make life work as best as possible. When we face challenging situations, sometimes we don’t get to make the choice we’d prefer; that’s part of life.
Those of us who’ve come this far usually recognize that. Within the options available, it’s an honor for me to help people find ways to live the life they want as much as possible. Let me help you research which option works best.
He said, essentially, “I know it’s your job to sell houses and you get paid for that. Can I pay you for this information so we can make the right choice?”
I stopped him and said, “This is my joy. This is my heart; to help you do what’s important. If I help people, I will eventually sell a house and provide for my family. I’m honored to help you understand the best options and resources at no charge.”
If you’re trying to figure out how best to live, whether staying in your current home, moving to a simpler lifestyle and smaller home, or giving up your house for a more manageable living arrangement, I’d be honored to talk with you and see what makes sense.
If there’s anything we can do to help you with your home or real estate needs, message or call us at (425) 422-7372 or Sandy@SandyAndCompany.com, so we can be of service. Whether you need help now or a few years from now, we’d be honored to stay in touch and be a resource.
Have a blessed day. Stay safe and healthy, and if we can help with your real estate needs, reach out. We’re here for you.
Our motto is “making lives better.” How can we help you with yours?
