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As you begin speaking with senior real estate agents, here are some common terms it will be helpful for you to know and understand.
Full time, maintenance-free residences designed for active adults over the age of 55.
Also known as senior group homes or residential care homes, communities that are licensed to care for up to six residents in a home setting, including meals, maintenance, safety, and healthcare.
Residences in which community members live in their own spaces, but receive additional services such as on-site medical staff, communal meals, and nursing and/or daily living assistance.
A senior living option that provides progressive levels of assistance to its residents depending on individual needs, from independent living through full-time nursing care.
The act of reducing the footprint of your home or possessions to lessen maintenance, costs, and hassle.
A situation in which a senior lives in a condo, townhome, or single family home without live-in or on-site assistance.
A loan against your home equity that requires no repayment as long as you reside permanently in your home.
A real estate professional who specializes in providing services to clients aged 50 and above.
A designation earned through the National Association of Realtors by realtors “specially qualified to address the real estate needs of those age 50+.”
Preparing your home for sale by cleaning, repairing, decorating, or taking other steps to show it in the best possible light.
The process of opening your home to prospective buyers through open houses or individual appointments.
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