The place you call home has never been more important
In today’s real estate market, seniors have more options than ever before.
Article featured in the Democrat & Chronicle
Our homes are our cocoons, safe havens, retreats and cozy nests. Nothing feels better than home, especially during challenging times. However, mixed in with the struggles of this past year is a silver lining – an opportunity for retirees to sell their homes and move to a trusted senior living community.
“As the world begins to once again open up, many people are looking to make a move,” said Eileen Ryan-Maruke, Vice President of Marketing at St. Ann’s Community. “We understand what an important decision it is when considering a move to a senior living community. At St. Ann’s, we are here to help.”
The current real estate market is working in the seller’s favor, making this season an optimal time to sell; home values have soared and buyer demand is high.
According to Freddie Mac, U.S. home prices are rising at its fastest pace in the last 15 years, and in early 2021, mortgage rates hovered at all-time lows. This unique time is being characterized as a super sellers’ market that experts predict will remain strong for quite some time.
“For seniors looking to sell their homes, this is an opportunity to receive the most money possible,” said Ryan-Maruke. “After many years carefully caring for their homes, chances are high they will sell quickly and possibly over asking.”
How to plan for what’s next
The possibility of increased profit from a home sale is exciting, but it’s important for seniors to take their next steps strategically. When someone begins to think about listing a home, the future can seem overwhelming. Whether it’s deciding where to go next, or planning the move itself, many people may not know where to begin.
“If you’re considering a senior living community, the best first step that you can take is to just call us,” said Brian Burger, Marketing Representative for St. Ann’s Community. “On that first call, we can talk you through the entire process of moving into a St. Ann’s Community, and we’ll invite you to come and see it for yourself. That way, you can decide if a community like ours is the right fit for you.”
Ryan-Maruke added, “We consider a large part of our responsibility to be educating seniors and their families about what options there are out in the community. It’s a very personal decision, where you decide to live, and you shouldn’t feel rushed. Take the time you need to make the right decision.”
In Western New York, there are dozens of businesses that solely focus on assisting seniors who are selling a home and are considering their next steps.
“It’s definitely not a task you have to take on alone,” said Burger. “Our team keeps in touch with local moving planners, moving companies, realtors and more. If you’re looking for some help with the tougher parts of planning a move, then we can get you started in the right direction.”
Right time and location, good reputation
With the housing market as active as it currently is, senior living communities are now seeing an above-average influx of new residents. As seniors sell their homes, many are deciding against pursuing new real estate purchases – a process that would have them competing with multiple bidders for properties. Instead, many home sellers are considering the more exclusive, maintenance-free rental options at communities like St. Ann’s.
Despite the fact that retirement communities are seeing an increased demand that rivals that of the housing market, someone seeking residency at a retirement community should expect a completely different “buying” experience.
“We don’t create competition for people wanting to live here. Our goal is to take the stress away from moving, not add to it,” said Burger.
Ryan-Maruke said she is often asked for tips to share with someone who is starting their search.
“The first thing I always recommend is to bring a list of questions. It’s easy to get distracted looking at the beautiful spaces and amenities, having a list ensures important questions are answered,” she said. “Secondly, at each place you visit, don’t be afraid to ask what happens if you start to need health care services. Can you receive them in your apartment or cottage, or do you have to move? Will you be given priority access to care options over individuals who don’t live there yet?”
The search for retirement living is often a balancing act of finding the right location and finding a community with a good reputation. These criteria are becoming easier to satisfy as many of the well-reputed senior living communities in Rochester are actively expanding to meet demand. St. Ann’s Community, for example, acquired The Greens of LeRoy in 2019, and in 2020, entered into a partnership with Quail Summit in Canandaigua.
“We’re excited,” said Burger. “We know this is one of the most important decisions of a person’s life, and by adding to our offerings, we can really increase the chance that we can help find someone the perfect place to call home.”
Learn more about St. Ann’s Community in Rochester, where their mission is caring for the most important people on Earth, by visiting stannscommunity.com.[/vc_column_text][/vc_column][/vc_row]