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Now that you know The Perks of Living in an Active Adult Community, the question is, when is the best time to move into one?  The answer is…NOW!  If you are at least 55, there is no reason to wait. In fact, if you do put off your move, you may end up regretting it.  Consider these reasons for moving to and active retirement community sooner than later:

  • The older you get, the harder it will be to move. Despite how much you work to stay in good physical shape, you can’t fight aging.  If you think packing and moving would be exhausting now, then try to imagine what it might be like in your 60s or 70s. 
     

  • Timing is everything.  Just because you start the process of selling your home and finding the perfect 55+ community to move to, doesn’t mean it’s going to happen right away.  It might take a long time to organize your current home and get it ready to sell.  It also might take a significant amount of time to research 55+ communities to find the right one for you.  55+ Communities in Memphis Area
     
  • You might miss out if you wait.  There is going to be a "Silver Tsunami" of baby boomers that will be ready to downsize and move to these communities and if you wait, you might find that desirable 55+ communities are full.  In addition, there is a current shortage of homes for sale in traditional communities and demand for them is still high. So, now is the time to sell while the market is in your favor!
     
  • It simply makes sense to be prepared for “senior living”.  Unplanned medical issues might make living in your current multi-level home a big problem. Don’t wait for that to happen. Find an active retirement community featuring one level living now and you won’t have to worry about renovating your current home to accommodate your future needs.
     
  • Start building your social network now.  There is no place better than a 55+ community to make new friends.  But it won’t happen overnight.  Starting now will give you the opportunity to build a network of friends that will be there for years to come.
     
  • You will likely be more active!  Some people think of retirement communities as places you go to slow down.  But 55+ communities offer so many activities and amenities that slowing down will only happen if that is what you want.  It will be so easy for you to participate in fun activities that you will likely do more than you are doing now to stay busy!
     
  • Save money on home maintenance.  If you’re currently living in an older home, chances are you have been shelling out your hard-earned money for lots of maintenance and repairs.  Imagine moving to a new home that is more energy efficient, has new appliances and will require less upkeep. That leaves more time and money for all those fun activities that will keep you younger longer!

55+ communities offer so much that will make your life better and more fun. Why wait to enjoy the benefits? Start looking now and find the community and home that is right for you!

If you have recently become an “empty nester” and you or your partner are 55 or older, an active adult community might be just the place for you to start fresh. Melissa Thompson is an experienced, professional Realtor who can help you get the best price possible on the sale of your current home so that you can join in the fun of living in a 55+ community!  Give her a call today at 901-729-9526!

Photo Credit: rd.com

Staying Physically and Mentally Fit as an Empty Nester

by Melissa Thompson


Photo Credit: 55places.com

Studies show that staying mentally and physically active in your senior years is vital to your overall well-being.  Socializing also has a positive impact on your health as you age. Adopting healthy habits and behaviors and staying involved in the community will contribute to your ability to live a full and meaningful life. There is no better place for seniors to stay active, both mentally and physically, than an Active Adult Community!  With a community of peers that are in the same stage of life as you, you will be able to find many people with common interests and goals.  And built in activities will make it easy for you to participate and meet people.  Here are some of the most popular activities offered in 55+ Communities in the Memphis area:

Swimming: Some communities include swimming pools. Swimming is a great, low impact way to stay physically fit, while also getting fresh air and a healthy dose of vitamin D.  The swimming pool is also a fun place to socialize and cool off on hot summer days!

Exercise Rooms: No need to join a gym elsewhere because most 55+ communities have their own exercise rooms available to residents. Get your heart pumping on the stationary bike or treadmill, lift some weights to maintain strength, or take a yoga class for relaxation.

Multi-Purpose Rooms: Keep your mind sharp by meeting up with fellow neighbors to play card games are to do arts & crafts in the multi-purpose room.  Some communities will offer classes; remember, you are never too old to learn something new!


Photo Credit: Ilcorp.org

Walking & Biking Trails: When the weather is nice, no need to stay indoors to exercise. Take advantage of beautiful walking and biking trails that many communities offer.

If you have recently become an “empty nester” and you or your partner are 55 or older, an active adult community might be just the place for you to start fresh. Melissa Thompson is an experienced, professional Realtor who can help you get the best price possible on the sale of your current home so that you can join in the fun of living in a 55+ community!  Give her a call today at 901-729-9526!

Is it Time to Downsize your Home?

by Melissa Thompson
 

Is it Time to Downsize your Home? | Keeping Current Matters

A recent study by Edelman Berland revealed that of homeowners who are contemplating selling their house in the near future 33% plan to scale down. Let’s look at a few reasons why that would make sense to many Americans.

In a recent blog post, Dave Ramsey, the financial guru, discussed the advantages of selling your current house and downsizing into a smaller home that better serves your current needs. Ramsey explains three potential financial advantages to downsizing:

  1. A smaller home means less space, but it also means less time, stress and money spent on upkeep
  2. Let’s assume you save $500 a month on your mortgage payment. In 30 years, you could have an additional $1–1.6 million in the bank to get you through your golden years.
  3. Use the proceeds from selling your current home to pay cash for a smaller one. Just imagine what you could do with no mortgage holding you down! If you can’t pay cash, aim for a 15-year fixed rate mortgage and put at least 10–20% down on your new home. Apply the $500 you saved from downsizing to your new monthly payment. At 3% interest, you could pay off a $200,000 mortgage in less than 10.5 years, saving almost $16,000 in the process.

Realtor.com also addressed downsizing in a recent article. They suggest you ask yourself some questions before deciding if downsizing is right for you and your family. Here are two of their questions followed by their answers (in italics) and some additional information that could help.

Q: What kind of lifestyle do I want after I downsize?

A: “For some folks, it’s a matter of living a simpler life focused on family. Some might want to cross off travel destinations on their bucket lists. Some might want a low-maintenance community with high-end upgrades and social events. Decide what you want to achieve from your move first, and you’ll be able to better narrow down your housing options.”

Comments: Many homeowners are taking the profit from the sale of their current home and splitting it to put down payments on a smaller home in their current location and a vacation/retirement home where they plan to live when they retire.

This allows them to lock in the home price and mortgage interest rate at today’s values. This makes sense financially as both home prices and interest rates are projected to rise.

Q: Have I built up enough equity in my current home to make a profit?

A: “For most homeowners, the answer is yes. This is if they’ve held on to their properties long enough to have positive equity that will be sizable enough to put a large down payment on their next home.”

Comments: A recent study by Fannie Mae revealed that only 37% of Americans believe they have significant equity (> 20%) in their current home. In actually, 69% have greater than 20% equity. That equity could enable you to build a life you have always dreamt about.

Bottom Line

If you are debating downsizing your home and want to evaluate the options you currently have, meet with a real estate professional in your area who can help guide you through the process.

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