Real Estate Demand is creating a shortage for New Construction
The definition of retirement has changed considerably in recent years. Surviving the COVID-19 pandemic has reminded all of us about the importance of personal relationships and heightened our desire to maintain an active lifestyle that includes travel, exercise, new experiences, community, and learning. If you are preparing to retire, it might be time to re-think your housing situation. Is now the right time to “right-size”? Ask yourself these questions as you consider whether it makes sense for your situation:
- Do my current housing costs affect my future lifestyle goals?
- How long can I sustain the current upkeep and maintenance on my current home?
- Do I need as much space as I currently have or does it create more work?
- Can I take advantage of the market and have some additional cash for retirement?
When is the right time to “right-size”? We strongly encourage you to consult with a licensed RealtorTM to get a factual and accurate price for your home. There are advantages that most 50+ sellers have in the current market, such as more equity, the current seller’s market, and great prices being offered for homes.
If you “right-size”, where do you want to live? You want the right house in the right community. At this point, you need a good game plan. As you begin your research, there are several things to consider, such as the size and style of community that works best for you. Do you want a detached home or an attached townhome? How many neighbors are you comfortable with? Does the community have a Home-Owners Association (HOA), and what amenities do they provide? Most HOA’s are designed to manage yard care and snow removal in the wintertime for residents. Do you want an age-targeted community? What lifestyle are you looking for?
The style of your new home is very important. You will want to choose something that will meet your current and future situation. Ovation Homes has a variety of house plans and designs to choose from. We’d love to help you find the perfect plan for you.
Ovation Homes is an award-winning active adult home builder in Northern Utah.