Tips for Buying a Home You’ll Love - Even in Your Senior Years

Buying a home is not always as smooth sailing as you'd like it to be, especially if you're older and the best is what you've come to expect. Moreover, your ideal home might look a bit different to accommodate this new phase of life. Nonetheless, it is still possible to find a home that you'll love - even now. If you want to buy or sell, read on for some tips from Team Stiles.

Accessibility could be a priority

Accessible homes are cropping up more and more these days, and it's understandable why, as our needs tend to change quite significantly in our senior years. Therefore, you might be in the market for a home that is more tailored to your unique requirements such as having no stairs, wider hallways, doorways, etc. 

How to finance your home

When it comes to securing the home of your dreams, your budget is what will ultimately end up determining what you can afford at the end of the day. Of course, you will probably be presented with a few mortgage options to choose from. But this can be a challenging exercise, especially if you don't want to be bound to pay for a mortgage for over 30 years, for example.

So be sure to investigate how it works, as well as all your options before settling on one, taking into account how much down payment you'll be able to make upfront and if you'll have enough retirement funds to keep up with your mortgage repayments.

Moreover, lenders will often want to have proof that you have sufficient income as well as a good credit score before they'll consider loaning you the funds to purchase your property. So best be sure to have all your ducks in a row beforehand to ensure you don't get caught up in a lot of red tape along the way.

Look into a home warranty

You’ll also want to protect your investment once you’ve secured a mortgage. Homeowner’s insurance is the first line of defense, and is usually required by lenders to begin with. But there are some items and situations that aren’t typically covered, such as when a system like the HVAC goes out or a major appliance needs repaired or replaced.

When a manufacturer’s warranty is no longer in effect, your sure-fire strategy is to purchase a home warranty. First check into the difference between a home warranty and a manufacturer warranty, then research home warranty providers to see what they include in their policies. The last thing you want is to be in lurch when it comes to paying for systems or products when they break down.

Knowing where to search for your ideal property

Knowing where to search for your ideal property will be the next step in determining if you are able to find the right property match for you. For example, Property Guys Welcome Mat notes that finding the right location might be a deal-breaker for you while still being able to fit within the budget. Therefore, it might be helpful to do some research into what the going rate is for properties to get a fair estimate of what you're likely to spend.

But if you're lost here, a realtor can help you find a suitable property for you, too, especially if your wishlist is quite extensive, and you're struggling to find a property that is within your price range.

Choose a reputable mover

Also, as part of the home selection and moving process, Glovve points out that you'll want to choose a moving company that is as reliable as can be because the last thing you'll want to be doing is stressing over whether your belongings will be delivered in one piece. Again, it pays to do your research in this area by looking up reviews and testimonials online, as well as having those necessary conversations to ensure that you both are on the same page.

A senior-friendly city could be a good option

Of course, you probably want to move to a neighborhood that is going to be suitable for your lifestyle - in more ways than one. One of the ways you can check if a neighborhood really is for you is by looking it up online on SeniorScoreto get a better idea of what living there is actually like. You can also check to see if any old classmates live in the vicinity. Reconnect and find out how happy they are, what issues they face with transportation, healthcare, and other concerns you may have.

Moving to a new home when you're older is going to take some adjusting, but it could end up being every bit of the adventure you'd hoped it would be if you play your cards right. Remember to keep accessibility in mind, know your financing options, check into a home warranty, and look for a senior-friendly location.

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Team Stiles can assist you with your home buying and selling needs from start to finish. Connect with us today by calling (317)883-9461!