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Who's really in control of your future?
You? Or Your House?
Start Here »If you're well into retirement, owning your own home today just doesn't make as much sense for someone in your shoes as it does for the young folks across the street.
So let's take a look at your real world of homeownership, get realistic about what you're up against and learn why it would be a good idea for you to do something about it.
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Owning your home probably isn't the smartest thing you can do today.
Maintenance
As a long-time homeowner, you know some maintenance costs are reasonable and manageable under any circumstances. But others will send a shudder down your spine.
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New Roof
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Painting
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Windows
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HVAC
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Lawn Maintenance
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That's more than $71,000 out of your pocket over the next 10 years, just to stay even.
But There's More »
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Owning your home probably isn't the smartest thing you can do today.
If your house is worth $250,000 today and increases in value at a generous 1.5% a year, it will be worth $290,135 in 10 years.
However Next
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Owning your home probably isn't the smartest thing you can do today.
Net Value $219,135 Projected Value in 10 Years $290,135 Minus Potential Maintenance Costs - $71,000 Which gives you a net loss of $30,865 over 10 years.
Plus, none of these maintenance expenses add value to your house, which means you won't recover your investment when you sell. The best it can do is make your house a bit more attractive than your neighbor's, which may be priced about the same as yours.
Now Consider This »
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Owning your home probably isn't the smartest thing you can do today.
Real Estate Value
If you plan on waiting for the value of your house to come back to what it was a few years ago, it's likely to be a very long wait. In fact, the first quarter of 2011 saw home prices decline to levels last seen in 2002, exceeding the declines experienced during the Great Depression.
Using our Compound Annual Growth Rate Calculator included here, enter what you think your house was worth 5 years ago, what you think it's worth today, and how long you'd be willing to wait to regain the difference.
If the answer is more than 2% per year, most economists would tell you you're kidding yourself.
Our Point is This »
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Owning your home probably isn't the smartest thing you can do today.
Owning your home was a
great long-term investment
when you bought it.
But now, long-term has turned
into short-term.Now is the time to sell.
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Homes Are Selling
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Sales of existing houses rose from 402,000 houses nationwide in March 2011 to 444,000 in April. That’s an increase of 10.4%. AND the Commerce Department reported annual rates of 629,000 housing starts and 624,000 housing permits for June 2011 – significantly better than the 570,000 housing starts and 609,000 permits many economists had expected.Mortgage interest rates are extremely low. Housing prices are down. It’s a buyer’s market, and those with good jobs and good credit are taking advantage of it.
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As a long-time homeowner, you’ve built up a tremendous amount of equity. You may have even paid off the mortgage. So you’re in the best position to negotiate, because you have the most flexibility in terms of pricing and closing. Everyone wants to get as much as they can for their house, but those with the most flexibility actually have the power to do so.
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We have a variety of plans, programs and people available to help you stage and sell your house, move and start living the lifestyle you really want. The details change periodically, so it’s best to sit down and speak with our community representative to clearly understand all your options.
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“I just can’t leave the memories behind.”
We understand it's difficult to leave a place that's connected to so many happy memories. But when you really think about it, it's not the house that's important. It's the people and the events that will always be in your heart, no matter where you choose to live.
Play
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I'm Fine For Now
“I’ve got everything I want right here.”
Do you really? Let’s take a look.
If you answered "No" or "Maybe" to any of these questions, you’re not in control of your house and your future. Your house is in control of you.
Now Consider This »
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I'm Fine For Now
Research shows that social engagement can lead to better health and longevity, while social isolation can lead to poorer health and a shorter life. So moving into a place where you can easily connect with others has these benefits:
Supports Better Overall Health
The National Social Life, Health and Aging Project showed that people who feel the most socially connected are five times more likely to report very good or excellent health than those who felt the most socially disconnected and lonely.1
1 Journal of Health and Social Behavior, 50(1):31- 48 (March 2009), Benjamin Cornwell, PhD, and Erin York Cornwell, PhD.
Improves Memory and Cognitive Function
An active social life can improve brain power, increase our ability to concentrate, and slow the rate of memory loss2 and other cognitive loss.3
2 “Effects of Social Integration on Preserving Memory Function in a Nationally Representative U.S. Elderly Population,” Karen A. Ertel, M. Maria Glymour, Lisa F. Berkman, American Journal of Public Health, July 2008, Vol. 98, No. 7.
3 International Council on Active Aging Research Review, 7(41) 2007 and 8(12) 2008.
Reduces Heart Disease, Especially in Women
Studies suggest that symptoms of depression and lack of social support (isolation) are associated with more heart attacks, open-heart surgeries and deaths from cardiovascular disease in women.4
4 Psychosomatic Medicine 55:426-433 (1993), L.H. Powell and colleagues.
Increases Probability of Living Longer
The U.S. Department of Health and Human Services published a report stating that people who move into a community setting live longer than those who remain in their houses during the later years of life, partly because their quality of life vastly improved.5
5 U.S. Department of Health and Human Services: Continuing Care Retirement Communities: A Background and Summary of Current Issues, Jacquelyn Sanders, page 8, 24, February 1997.
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I'm Fine For Now
So if you have the potential to live longer,
happier and healthier, don't you want to give
yourself every opportunity to do so?Well, you can.
By selling your house, taking a portion of the profit
from that sale and investing it in the comfort,
convenience, security and independence you
want for your future.
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Contact Us
What's Next?
Here's your chance to say "Hello!" to the future. When you do, you'll start learning about a future that's full of personal independence and financial security. You'll start putting a plan in place for future health care. And you'll start protecting yourself from a pretty stressful downside.
Give Us a Call
800.836.3974
