Chateau Cupertino

When is it time to sell?

Life is a series of phases and our housing requirements change with these phases. The first phase is when we're young - we live with our parents. Then we move on to college and later, get married buy a house and start a family. Time moves on and we buy a larger house. Time passes - the family grows up and the children move out to start their own families. The next phase comes when the couple is retired and living by themselves in a home that is usually much too large for them. As they continue to age, the house often becomes an overwhelming responsibility. If a spouse dies, then one person is trying to deal with it alone: home chores, self care, home maintenance, most importantly, they are alone and lonely.

Let's look at the possible red flags and problems occurring in a situation such as this. Let us assume that an average home in the bay area would be approximately 3,000 square feet. The couple has live in this home for 25 to 40 years and it now requires a fair amount of maintenance and upkeep not to mention the lawn and yard maintenance. They still have to continue to deal with the usual indoor chores, general housekeeping, laundry and cooking meals for one person. The list goes on and it never ends, day in and day out. Remembering that the house is a major financial asset now and selling it has always been an important part of the financial retirement plan. Now might be the right time to sell.

Things get a bit more complicated. The parent is living alone and now loses their drivers license. It is now much more difficult to see family and friends and friends aren't able to drive as well. The parent is not able to visit the grocery store, shops or have the usual outings to which they were accustom. As doing these trips becomes increasingly difficult, people tend not to and avoid doing them altogether often becoming house bound. The healthy socializing the person did before stops all together becoming isolated and cut off. They become indifferent about food and begin to rely increasingly on junk food and other processed foods, at the cost of her health. By this time the family is trying to pick up all of the chores Mom use to do in between taking care of their own life's demands. One of Mom's best friends now is the television and visiting friends has become a thing of the past. She becomes more and more solitary and physical and emotional health declines. Then the EVENT happens and makes the decision for all involved. Mom goes to a hospital with a broken hip, stroke or other debilitating crisis. The children are caught off guard when the doctor says Mom can't stay at home any more. Mom isn't able to make this decision by herself now, the children have to be involved. What are the options?

First off don't let you life get to the point described above. If you are in the situation where your life is dictated by any of the examples given above, then the alarm bells should have started to ring. It is time to review take control and put your life back on a healthy track. It's time to assess your options. But what are the options open to you? If you are in general good health and still have a zest for life your obvious choice is to think in terms of independent retirement living. Moving into a retirement apartment which offers you independent living with the freedom to choose your lifestyle is one of your best options worth considering. There are several factors to be considered:

1. Is the complex family owned or corporate owned? How long have they been open?
2. What meals are provided and how are they prepared?
3. Are good activity and entertainment programs available?
4. What transportation options do they have?
5. Are utilities included and what are those utilities?
6. When are housekeeping and laundry services provided and how often?
7. How often has the rent gone up and how much?
8. Are the rent arrangements month to month with a 30 day notice to vacate or a lease with penalties to vacate early or is it a buy in lifestyle which requires a large sum of money up front and a monthly maintenance fee?

These are just a few of the important questions that you should be asking.

Chateau Cupertino Workshop - Deciding it is time to Sell

Part - 1	Part - 2
John Gray is the owner and operator of The Chateau Cupertino. Watch John talk about the important things that go into from moving from your home into a retirement community.

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