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The Booming Real Estate Market and You: Why Retirees Should Take Notice

The Booming Real Estate Market and You: Why Retirees Should Take Notice

It’s no secret that the housing market isn’t just booming – it’s exploding. Our post-pandemic lifestyles have caused an incredible increase in the demand for homes (in a market that was already highly competitive). These days, homes are a hotter commodity than ever, which is good news for older adults considering a move to a senior living community, says Jeanie Tini, Director of Marketing and Sales at The Estates at Carpenters, a Life Plan Community in Lakeland, FL, that offers Lifecare.

“Real estate agents in the area say that housing prices in Polk County increased nearly 20 percent from the previous year,” Jeanie says. “Right now, we’re seeing a perfect storm that is making this the best market for home sellers in decades. Housing supply is low while demand is skyrocketing. A shift to a more remote-friendly work environment means that career professionals are able to move around to an area and to a home that better suits their lifestyle. Finally, home values are rising while mortgage rates remain at historical lows. All this spells a perfect opportunity for home sellers, particularly older adults who may be looking to make a lifestyle shift themselves.”

Jeanie says that selling your home in a prime housing market sets you up for success for moving into a community like The Estates at Carpenters. “Moving into our Life Plan Community is an excellent form of insurance against rising health care costs and rising costs of living,” she says. “Even if you’re a completely independent retiree who’s active and healthy, moving to a community before you need it gives you the chance to enjoy life to the fullest. None of us know what the future holds, whether it be our health, our desires or even if this housing boom will last much longer.”

In other words, strike while the iron’s hot, she says.

“Moving into a Life Plan Community provides you with a favorable return on investment of your home sale, allows you to better budget for your future and protects you against the rising costs of health care in the future,” Jeanie explains. “Why not seize the opportunity now and get started on living your best life in retirement?”

By the Numbers: The Housing Market in Lakeland, FL

  • Lakeland consists of 49 neighborhoods.
  • As of writing this article, there are 1,171 homes for sale, ranging from $6.2K to $2.8M.
  • In May 2021, the median listing home price in Lakeland, FL, was $265K, trending up 14.1% year over year.
  • The median listing home price per square foot was $157.
  • The median sold home price was $260.3K.
  • Redfin reports that nearly 40% of homes sell for over list price.
  • Many homes get multiple offers, some with waived contingencies.
  • The average homes sell for around list price and go pending in around six days.
  • Hot homes can sell for about 2% above list price and go pending in around three days.

Take Advantage: Get Your Home Ready To Sell
One of the big benefits of a seller’s market – among many other things – is that, unlike in a buyer’s market, sellers won’t necessarily need to make huge, expensive and time-consuming renovations and changes to their home to get top dollar. Still, any real estate agent will tell you that it’s important to get the most bang for your buck, and here are plenty of things you can do to your home (and your lifestyle) to help get you set up for success.

Start downsizing. Staging a house is essential for helping buyers better picture themselves in the space and get an idea for how the home can be lived in. Most of us have way too many items in our home to set up a successful staging, and when you move into a Life Plan Community, you’ll probably need to get rid of some of your belongings. Now is the perfect time to go through your house and get rid of anything you don’t like, need or want. Getting rid of things now (and packing up stuff you need but don’t necessarily want for staging) will save you time and stress when it’s time to hand over the keys.

Do some spring cleaning. A clean home sells faster (and for more money) than a dirty one. This gives you the chance to wipe off dirt and cobwebs while also allowing you to check and see if there are any maintenance issues that should be taken care of before the house goes on the market.

Fix any issues. Minor issues that can be easily reminded and you can do yourself will help you increase your home’s attractiveness and help you sell for more money. With larger issues, it’s a good idea to hire and speak to a Realtor® who can help guide you as to what you might want to fix, and what you might want to leave. Even though it’s a seller’s market, homebuyers today are relatively savvy and want to make sure they’re getting a good deal, too. 

Use professional photographs. These days, online listings are a homebuyer’s first-stop shop. Having high-quality, professionally done photos will help your home stand out and will entice more buyers to book a showing. You’ll have your best chance of gathering a wide interest if you have photos that show off your home in the best light (so skip the cell phone photos, no matter how good your phone may be).

Have a timeline for your move. Moving is exciting, but it also can be a lot of work. Before you do anything, sit down and plot out a timeline for when you’d like to feasibly put your home on the market and when you’d like to move into a retirement community. Depending on your situation, you might want to reserve your space in a Life Plan Community before you list your home, allowing for the smoothest transition possible.

“Today’s retirees have an unprecedented opportunity to start off their new chapter of life on the very best foot,” Jeanie says. “If you’re looking to make 2021 the best year yet while also setting up the groundwork for your future happiness and peace of mind, selling your home and moving into a Life Plan Community like The Estates at Carpenters may be the solution you’ve been searching for.”

About The Estates at Carpenters

The Estates at Carpenters is a Life Plan Community offering worry-free independent living, assisted living and high-quality skilled nursing care and rehabilitation. For over 35 years, The Estates has provided older adults in the area with an active, engaging lifestyle filled with abundant choices and the amenities and services that make life easier. A lifestyle designed to keep older adults healthy and well today – and tomorrow.

For more information on The Estates or to RSVP to an upcoming event, contact Jeanie at 863-279-4503 or visit our website.

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