It’s never too early to start planning for your retirement years. Whether you want to move into a home that is already owned or find one that needs to be built, it can be tricky navigating the ins and outs of real estate without professional guidance.
It may seem like an added expense at first, but hiring a real estate agent will actually save you money in the long run by helping you avoid costly mistakes. Real Estate Agents have access to listings that are not public, they know the market thoroughly, and they can help guide you through the process of buying your new home!
Finding a Specialty Agent (SRES)
When buying a retirement home, it’s best to find an agent that specializes in senior living. You can tell if they specialize by looking for the initials “SRES” on their business card; these are Specialty Real Estate Specialist credentials, and it indicates that they know everything about working with people who want to buy homes for retirement.
Now let’s look at the 7 reasons to hire a real estate agent when buying a retirement home.
You’ll Have Someone Fighting For Your Best Interest
When you’re making one of the biggest purchases of your life, having an advocate on your side is important. Real estate agents are always working in their client’s best interests and they will fight for what is fair. The real estate market has likely changed a lot through your lifetime, and an agent will know the most up-to-date information so you don’t have to keep up. Having a real estate agent when buying your retirement home will keep sellers from pulling the wool over your eyes and ensure that you know exactly what you are getting into.
They’ll Negotiate So You Don’t Have To
Speaking of fighting for your interests, real estate agents are also great at negotiating. This is a critical skill when it comes to buying a home, as you want to make sure you’re getting the best deal possible. You have spent your whole life racking up a 401K, and you don’t want to spend all of it at once on your home; you deserve to spend your money on exciting experiences in retirement. An agent will be able to talk to the seller’s agent and get them to come down on prices or closing costs so that you can use that money for more!
One of the most important things an agent can bring to the table is their knowledge of the current market. This means they will be able to tell you what is a good deal and what isn’t, as well as help you set a budget that you feel comfortable with. They’ll also know about any new developments in the area that might impact your home’s value, so you can decide if it is worth the investment.
An Agent Will Know the Area to its Fullest Extent
An agent selling a home has likely lived and/or worked in the area for a while and knows it like the back of their hand. This means they will be able to tell you about everything from local restaurants to grocery stores, as well as hidden gems that aren’t so close by! In addition, they will be able to scope out local retirement communities with the best reputation and let you know which ones may be worth checking out.
When buying a home, there is so much paperwork involved! From getting your pre-approval to the closing statement, an agent will take care of all of it for you. This means that you can relax and not have to worry about a thing. They’ll keep you updated on what is happening through every step of the process so that there are no surprises.
Having someone who knows what they are doing in regard to paperwork will make your life so much easier when buying a home, allowing you to focus on the exciting parts of moving into retirement!
An Agent will Know the Pros and Cons of Retirement Communities
Are you questioning whether or not a retirement community is the best option for you? An agent has likely worked with a lot of people in retirement communities and will know the pros and cons of retirement communities as a whole and be able to compare each one in your area. They can help you weigh the benefits and drawbacks of each so that you make the best decision for your retirement. They can help you find the perfect place for your needs- whether that is an active adult community, a more laid-back environment, or somewhere outside of a retirement community.
SRES’ are Trained in Retirement Finances
A lot of things are different when buying a retirement home vs buying a home in other stages of life. One of the most important things to keep in mind is that a retirement home can cost you a lot more money than other homes. Agents know this and can help guide you through all of the “hidden costs” associated with buying a home, including taxes, repairs, utilities etc. Senior Real Estate Specialists are specifically trained in subjects such as these and are the best choice when stepping into a new home for retirement. They’ll walk you through what expenses are normal for these types of communities and they will help guide you on how to use IRA’s, 401K’s, and pensions to finance your retirement home.
Reasons to Hire a Real Estate Agent For Retirement
When it comes to something as important as buying a home for retirement, you don’t want to leave anything to chance! A real estate agent will be able to guide you through the entire process and make sure that everything goes smoothly- from start to finish.