Boomers Inheriting Mom’s Home – Rent vs Sell?

Baby Boomers call when Mom and Dad has to move out of the long-held family home. The adult children are challenged with the decision of whether to sell or rent out the house. There are many things to consider and I suggest beginning with asking yourself the following questions… sell home photo

  • What condition is the home and property in?
  • Does it need repairs or improvements before leasing? Before selling?
  • Do you want to be a landlord? Willing to pay taxes, insurance, repairs, gardener, utilities, etc. out of mo rent payment? What cash on cash return do you need?
  • Do you want to hire property management co to handle maintenance./ tenant complaints, vetting new tenants? (Typically charge approx. 10% of mo.lease payment)
  • Do you need a monthly income stream?
  • Are you ready to pay 2 mortgages when there is a vacancy?
  • Do you need a lump sum that can pay for mom’s care and be investing in something that will bring a greater return to the trust?

I give market data and home value, discuss trends around the Greater Walnut Creek and Lamorinda areas, as well as and absorption rates. This year could be the perfect storm as far as selling at the peak. You can sell as-is and not do anything to the property or we can discuss what it would take to get top dollar. Your realtor is not licensed to offer tax nor legal advice, and I recommend seeking the guidance from a trusted attorney and/or CPA to understand all the legal and tax ramifications, as each situation is unique. Let me know how I can help?

Your Seniors Real Estate Specialist & Downsizing Diva!

Photo by jessicafm

DOWNSIZING MADE SIMPLE – FIVE STEPS TO A SUCCESSFUL MOVE WORKSHOP

DOWNSIZING MADE SIMPLE – FIVE STEPS TO A SUCCESSFUL MOVE

DOWNSIZING MADE SIMPLE - FIVE STEPS TO A SUCCESSFUL MOVE WORKSHOP

DOWNSIZING MADE SIMPLE – FIVE STEPS TO A SUCCESSFUL MOVE WORKSHOP

At THE KENSINGTON
1580 Geary Road, Walnut Creek, CA 94597
Thursday, November 12th | 12:30 p.m. – 1:30 p.m.

Enjoy a complimentary lunch while Seniors Real Estate Specialist Dayna Wilson shares tips on downsizing to a more manageable home and answers the top 10 most often asked questions concerning planning for and making a later in life move.


Please RSVP (925) 943-1121
www.VintageKensington.com

Boomers and Seniors on the Move-2016 Directory for Older Adults

Boomers and Seniors on the Move

Boomers and Seniors on the Move-2016 Directory for Older Adults.

Proud to once again be supporting the Born to Age Directory for Older Adults for 2016. They will be celebrating their 10th year. I am proud to be the ONLY Seniors Real Estate Specialist represented in this magazine. Let me know if you have been wondering, “Who’s going to take care of me (or Mom & Dad) when I no longer can?” It’s a good question. Not many of us want to think about it, nor have made any plans. Many clients I work with don’t address this until a crisis occurs. Everyone hopes and prays for good health, prosperity and longevity.

Most of us will outlive our ability to drive. Past 80, approx. 50% of us will have some form of dementia, or some form of a chronic disease. So, it might be a good idea to understand the options and possibilities. Talk to your children, parents, family members, friends, trusted advisers about how you INTEND to live as you get older.

So much has changed in senior care in the past decade alone and most people have no idea just how much. New products are being introduced, new advances in technology, new senior living communities are opening-the rapidity of change is imminent. Let me know how I can help get you the resources and assistance you need now or for your future.

Dayna-Diablo Area’s Downsizing Diva!

Dayna Wilson Teaches “Moving Mom and Dad”

Moving Mom and Dad: 5 Common Mistakes Adult Children of Aging Parents Make and How to Avoid Them

Join Dayna Wilson- Seniors Real Estate Specialist and friends for an informative class designed specifically for those assisting elder family members with late-life moves. As experts specializing in assisting mature home buyers and sellers, we will introduce to you the five most common mistakes made by adult children of aging parents and how to avoid them.

You will gain valuable insights and strategies helping you and your family to…

Dayna Wilson Teaches Moving Mom & Dad

Dayna Wilson Teaches Moving Mom & Dad-5 Common Mistakes

  • Communicate more effectively
  • Create a plan of action for future care needs
  • Locate suitable senior living options
  • Simplify the relocation process
  • Find and hire the right support when you need it

Reserve your seat today! Contact Mt. Diablo Adult Education by calling 925-937-1530 or online: www.mtdiabloadulted.org

Moving Mom and Dad-3 Reasons Why Moving First is Best

1) For older home owners in particular, it can be very stressful living in their home while agents are popping by with buyers, calling to make appointments and having to leave the house each time. Especially tiring if you are not ambulatory or ill.
2) The East Bay real estate market is competitive. Mom and Dad may not be able to secure their next home before their current home sells. They will need a Plan B so there will be a roof over their heads. I’ve had clients who moved in with family or friends, rented an apartment or moved temporarily to a hotel suite.
3) It’s easier to sort through all the stuff and determine what to take and what to leave; can take time and not feel rushed. Take only what you need and let others handle the heavy lifting. You might hire an organizer or move manager to help with the sorting and distribution.

May be easier to buy your next home before leaving your current one...

May be easier to buy your next home before leaving your current one…


BONUS TIP: Make a Plan and share it with your loved ones! In my experience moving first is Best!
Have a specific situation you need to discuss-schedule a personal consultation to create a plan for your parents.