What’s the Best Way to Sell Your Retirement Community Home?
Find out the best way to sell a retirement home by navigating your community’s rules and working with an agent who understands your situation.
A retirement community, which provides amenities such as on-site storage facilities, walking paths, golf courses, swimming pools, and clubhouses with activities, is not the same type of housing as a residential care home or assisted living. Many people move into a “55+ community” or “active adult community” intending to stay, but life makes other plans.
So, there may come a time when you’ll need to sell your condo, townhouse, or single-family home in a retirement community geared to active seniors for a number of reasons, such as relocating closer to family or moving into an assisted living facility.
With over 58 million seniors living in the United States — and that population expected to reach 82 million by 2050 — you’d think you’d have no problem finding a buyer. But resales in 55 and over communities can be quite different from the regular real estate market.
To start, you’ll need to navigate your community’s bylaws around resales and compete against any brand-new construction in the area. Let’s go over these considerations and more (with the help of a top-selling agent in America’s most popular state for retirees) so that you’ll know the best way to sell a retirement home should you need to do so.
What’s Your Home Worth Now?
If you are considering selling your home to retire or downsize, find out what your property might be worth. Enter a few details about your house and we’ll provide you with a preliminary estimate of home value in less than two minutes. It can be a helpful starting point as you plan your next move.
Research the resale value of properties in the community before you buy
You’re certain to have a larger number of potential buyers for your active retirement community home if you live in an area with a large number of seniors. According to the Administration for Community Living (ACL), part of the U.S. Department of Health and Human Services, the top 10 states with the highest population of persons aged 65 and older are California, Florida, Texas, New York, Pennsylvania, Ohio, Illinois, Michigan, North Carolina, and Georgia.
Even if you don’t live in one of these states, you can do some research online on neighborhood sale prices on the top real estate listing websites.
If you’d rather get an expert’s opinion, an experienced real estate professional can advise you on the projected resale value of this type of housing before you buy, which should put you more at ease should you need to sell.
Uli Wills, a real estate agent in the Sarasota, Florida, area, said retirement community homes throughout Florida and Arizona tend to have good resale value.
“For obvious reasons, they are very popular, and we get specific requests from clients that are looking for 55-plus because they want to be around folks their own age. They don’t want to have a bunch of partying teenagers and screaming kids by the pool,” said Wills, who has over 20 years of experience and is a Seniors Real Estate Specialist skilled in handling transactions for senior residents.
