Planning for retirement living basically starts with choosing the best and most suitable senior housing community for yourself and your loved ones. Recent studies show that more and more seniors are preferring to live independently in senior living communities rather than living with a family member or a caregiver or even spending the rest of their lives in assisted living facilities.
Choosing which senior housing community is the most suitable for your loved ones is not an easy task. There are lots of communities to consider all over the country and there are lots of aspects to look at. Although it will not be difficult to move out of a facility and move in to the next one if you’re not satisfied with their services, constantly moving will not be easy for the elderly.
To ensure you make the right choice, here are the top 3 things you need to accomplish when looking at the different retirement living communities you are considering.
1. Visit the community during non-business hours.
You are less likely to catch the communities, marketing persons and administrators who would work to sell the place to you. Although they mean no harm, you wouldn’t be able to freely explore the community and really look at it. This is also a perfect time to check out what the residents often do to pass the time and assess the security and safety of the community. You can take this opportunity to talk with some of the residents and get their feedback with regard to living in the community.
2. When visiting and assessing the community, evaluate the rules being implemented.
These rules would greatly affect how comfortable the elderly will be while staying in the community. These rules may include specific times to eat, go out, activities during different times of the day, when the lights should be out, curfew at night, and many other rules. You can discuss these with your loved one to ensure they feel comfortable with it. Keep in mind that some rules may seem limiting for them. Have patience in explaining everything to them in full detail and do not insist or impose that they accept the rules and abide by them.
3. Ask about activities prepared for the seniors
There are seniors who want to continue living an active lifestyle. This is why there are retirement living communities that plan weekly or monthly activities for the elderly. These activities may include a sports festival, movie night out, parties, hairstyling sessions, aerobics classes and various types of sports clinic. Make sure the activities are well-planned where the physical safety and health of all the seniors are concerned.
Call Jill Klunk to learn more about retirement living communities.
Yes, there are ways for you to save money when buying Conway homes. Contrary to what most home buyers think, you don’t always have to shed all your money in a property investment. There are ways for you to generate savings if you’re willing to put in more time and effort in this venture.
Obviously, you would need to spend additional time to conduct research and analyze your financial condition to ensure you are really ready for a property investment. This means, you will still have money left in your accounts after the purchase. Keep in mind that there will be other expenses that you have to be prepared for aside from the home purchase.
If you think you’re ready, here are some of the lesser-known tips that would help you save money when buying Conway homes.
1. Look for a seller who will agree to finance part of the purchase.
Some sellers who want to sell their properties quickly will offer to finance the purchase to the right buyer. This process is often called seller financing, which is basically when the seller agrees to finance part or all of the required down payment that is usually 20% of the total purchase price.
If considering this, you need to ensure a mortgage loan for the other 80% first before you make this offer to the seller. This will help make you look more credible and reliable to the seller and, thus, make it easy for you to make an irresistible offer. Also, make sure you highlight the benefits of this agreement that the seller will gain.
2. Buy as an occupant or a short-term owner.
This tip is particularly meant for investors who are looking to buy several Conway homes as well as those looking to increase the number of properties they own. This process involves buying a house and living in it for at least one year and renting it out after. You will then move on to find another house to purchase and live in for at least a year, while profiting from the first house you bought and currently renting out.
The properties you can buy through this process are those approved by HUD and VA. These properties require smaller down payments so you really don’t have to worry about repeatedly paying high down payments for properties that you will later rent out.
3. Work with the seller in paying for the closing costs
Don’t forget that closing costs are not always the responsibility of the buyer. This should be a shared responsibility between buyer and seller. However, you may need to work out a proposal to the seller that will benefit the both of you.
Work with a professional real estate agent to ensure more savings when buying Conway homes. Call Jill Klunk now.
Conway homes investment requires proper financial planning. This is most especially true if it is your first investment or your first home. You would want to keep your investment with you for as long as possible. And the key to that is proper financial planning.
An important aspect of proper financial planning is the general costs that you will be paying for when buying Conway homes:
Down payment – This is the first payment that you need to prepare for. Depending on the deal that you find, you will either be required to pay for zero down payment or pay the total purchase price upfront. However, home sellers generally require 20% of the total purchase price for the down payment.
Closing costs – These include all the fees that you will need to pay for in order to close the deal. These are generally paid during the last stages of your transaction. These typically include various government fees, title insurance, tax escrows and many others.
Reserve funds – You don’t actually have to pay for these during the purchase process. Your reserve fund would be money you allot for paying for the first few months of your mortgage payment. Including this in your financial planning will give you lots of breathing room after your home purchase.
Tips for effective financial planning to help in buying Conway homes
Below are some tips to help you in effective financial planning and allow you to buy and invest on a Conway home without damaging your credit score.
1. Make sure you don’t have any other debts when saving to buy a new home. If possible, try to maintain a low balance on your credit cards so you won’t have to keep on paying for your credit fees and other finance charges. These will prevent you from saving enough money for your new home.
2. Maintain a good credit score so that it will be easy for you to qualify for a mortgage loan.
3. Get an estimate on how much money you’ll need to save for your new home. You can do this by getting estimate prices on homes that you are looking to buy and using online payment calculators to calculate how much the closing costs and mortgage payments will be.
4. Create a home fund. Go to your bank and seek assistance in creating a home fund. Having a separate account where you’ll save and keep the money for your new home will help you to save faster.
Seek assistance from professional real estate agents with regard to finding the best Conway homes to buy. Call Jill Klunk and inquire about their services.