Our own Buyer Specialist, Mary Barkley, has recently received her SRES Designation. The Seniors Real Estate Specialist® (SRES®) designation gives her the knowledge and expertise to guide home buyers and sellers over the age of 50 through major financial and lifestyle transitions. Mary describes below what this designation means to her and how her expertise can help our aging community.
Deciding to pursue a Senior Real Estate Specialist Designation (SRES) was really based on my own personal experience and my love for working with the 50+ community. Firstly, I am 50+ and can relate to housing needs and secondly, I assisted my parents with the different stages of housing needs as they aged. The information I gained completing the SRES course was invaluable.
The market for 50+ looks like this: by 2030 more than 1/3 of the U.S. Population will be 50+ with baby boomers being age 65+. This population will be the smallest percentage of the workforce and the fastest growing group.
As we age, there are many options that I can assist regarding the planning process for housing choices. It is never too early to start planning. When I assist individuals, I start by looking at their current situation and future requirements to develop a plan. Our discussion would begin with aging in the home. There are many adaptations that can be made with a current home to make it an enjoyable and a safe environment. Aging in the community is another step that can be discussed. When talking about this choice we need to consider such factors as cost, facilities, services, and volunteer opportunities.
Looking into the future, housing options with assistance can be a consideration. I can provide resources on the various types of living.
Financing is always a concern. There are financing options for 62+. Reverse mortgaging financing is one option. This type of financing basically converts home equity into cash which gets dispersed monthly or in a lump sum. Reputable and local lenders can provide valuable information regarding this type of financing.
Planning future housing needs is very important, and you should involve family members on the process whenever possible. Your plans may include purchasing a multi-generation home which can accommodate multiple families. 1 out of 5 home buyers age 53-62 purchased a multi-generation home. I can certainly assist families with this process. My own parents lived with me for a few years. There are a variety of options for housing which may even include renting.
I would love to assist you or a loved one in finding the best housing option for you and develop a plan for the future which meets your individual needs. Please contact us today!
Our team has tons of resources from Lenders that have programs designed specifically for seniors to specialists that can help with senior placement and resources.