Homeowners over the age of 40 are often juggling a lot. Between demanding careers, raising kids, and caring for aging parents or relatives, it is easy for their own living situation to take a back seat for years.
Sault Ste. Marie REALTORⓇ Kyle Scali has some helpful advice for homeowners in their 40s, 50s, and 60s. Here are three real estate mistakes no one can afford to make:
1. Waiting too long to downsize
Kyle recommends making a move while in a position of strength. If possible, homeowners in their 40s, 50s, and 60s should begin the downsizing process while they are still in good health and have time to make thoughtful, low-pressure decisions.
For many, the last time they were involved in a real estate transaction was years ago, and the real estate landscape has changed considerably. Moving out of the family home where memories have been made can be an emotional and at times overwhelming experience. The earlier you get started, the more time you have to work with your REALTORⓇ and craft a plan you’ll be excited about.
2. Over- or under-renovating
When it comes to prepping your home for sale, there’s no need to take on big, unnecessary expenditures, though some modest spending may be required, depending on the condition of your home. Kyle advises checking with your realtor before taking on major renovations. If things are already in good working order, replacing them won’t yield a profit.
That said, if something is worn out or in need of repair, these are essential fixes that are worth the investment. Buyers are looking for a clean and well-maintained home that they can move into without hassle. This applies to both the interior and exterior of your home; neglecting either could turn buyers away.
3. Not planning for accessibility
It’s always wise to keep the future in mind, and consider how your home will work for you as you age. Is the space functional, safe, and easy to navigate? Are you close to essential amenities? Is the floor plan conducive to universal design principles and open enough to accommodate assistive devices? Accessible and adaptable homes allow people to stay in their homes longer safely.
Accessible features can include:
- zero-step entrances
- wider doorways and hallways
- accessible bathrooms and kitchens
- non-slip flooring
- improved lighting
- safety features (ramps, grab bars)
- walk-in bathtubs/showers
- adjustable counters
It is never too early to start thinking about whether your home will continue to meet your needs. If it doesn’t, start the conversation today.
Call Kyle Scali of Century 21 Choice Realty Inc. at 705-297-5866 for a free, no-obligation consultation or home evaluation and him on Facebook.