Real Estate

Real estate remains one of the most significant financial assets for many families, and decisions about property often intersect directly with senior living planning. For older adults considering a move to a residential care community, the family home is frequently the primary source of funding — whether through sale, rental income, or a reverse mortgage arrangement.

Understanding the local real estate market before making decisions about a property is essential. Market conditions vary considerably by region, and the timing of a sale can have a meaningful impact on proceeds. Working with a licensed real estate professional who has experience with estate or senior transition sales can help families navigate the process efficiently, particularly when the property requires updating or the transaction needs to close on a specific timeline tied to a care move.

For families who are not yet ready to sell, renting the property can generate income that offsets senior living costs while preserving the asset. Property management services are available in most markets to handle tenant placement, maintenance coordination, and rent collection on behalf of the owner — an important consideration when the owner or their family does not have the time or capacity to manage a rental directly.

Reverse mortgages allow homeowners aged 62 or older to access equity without selling or vacating the property, with repayment deferred until the home is sold or the borrower no longer uses it as a primary residence. These products are subject to specific eligibility requirements and carry long-term financial implications that should be reviewed carefully with a financial advisor before proceeding.

Property held in an estate or trust adds another layer of complexity. When a home must be sold as part of settling an estate, probate timelines and court approvals can affect the transaction. Consulting with an estate attorney early in the process helps families understand what steps are required and how to avoid delays.