Frequently Asked Questions

Determining how much home you can afford is a primary concern. Consider not just the purchase price but also factors like property taxes, homeowners insurance, and maintenance costs. Be sure to have a clear understanding of your budget. We can help you get in front of a Mortgage Professional.

Your credit score plays a crucial role in securing a mortgage and determining the interest rate. Check your credit score early in the process and work on improving it if necessary. We can help you find a trusted mortgage broker to help you navigate this common question.

Saving for a down payment can be a significant hurdle. So, start saving Now! The more money that you can save for a down payment will help determine everything from interest rates, amount of home you can afford to helping with a lower credit score. Understand the minimum down payment requirements for the type of mortgage you're considering

and plan accordingly.

First-time homebuyers may feel overwhelmed by the variety of mortgage options available. Take the time to research and understand the differences between fixed-rate mortgages, adjustable-rate mortgages, and other loan types like FHA.

Beyond the purchase price, there are additional costs associated with buying a home, such as closing costs, property taxes, insurance and potential HOA fees. Don’t forget about the actual costs when “owning” a home, like general maintenance, repairs and unexpected concerns. Factor these into your budget to avoid financial surprises

Housing market conditions can change on a dime and can impact the availability and affordability of homes. As real estate professionals we can provide you with the proper guidance based on current conditions.

This is a common concern when downsizing. To make this process easier, start by categorizing items into essentials, sentimental items, and things that can be replaced. Consider the size and layout of your new space, and prioritize items that add value to your life.

Sentimental items can be emotionally challenging to part with. Consider passing down family heirlooms to the next generation or finding creative ways to repurpose sentimental items. Digitizing photos and documents is also an option to preserve memories without taking up physical space. How do I find a smaller home that meets my needs?

Finding the right downsized home involves careful consideration of your lifestyle and priorities. Create a list of must-haves and nice-to-haves. Our goal as senior real estate specialist (SRES) is to help you find a property that fits your Individual needs. Downsizing doesn’t mean a loss of independence.

Downsizing can have financial i implications, both in terms of selling your current home and purchasing a new one. Consider factors such as property values, closing costs, and potential renovations in your new space. It's advisable to consult with a financial advisor to ensure that downsizing aligns with your long-term financial goals.

Moving can be a daunting task, especially when downsizing. We can help you plan the move well in advance, create a timeline, and enlist the help of professional packers and movers if needed. Consider selling or donating items you won't be taking with you. We can provide you downsizing experts and professional organizers who can provide valuable assistance in this process. 

Seniors may be unsure about the optimal time to sell. Factors such as health, financial considerations, and the local real estate market can influence this decision. Team Egan Homes and a trusted financial

advisor can help assess your individual circumstances and make informed decisions about when to sell.

Many seniors wonder if they should invest in home improvements before selling. The decision depends on the condition of the home and the local real estate market.

Simple repairs and improvements that enhance the home's appeal without

significant expense are often recommended. Our Team can provide guidance on cost-effective upgrades that could help in today’s market.

Selling a home can be emotionally and physically taxing. Seniors often seek advice on how to streamline the process and reduce stress. This is the exact reason why Team Egan Homes was born. Our trusted team of professionals from Estate Planners to professional organizers can ease the burden. Planning ahead and allowing sufficient time for the transition are also crucial.

Seniors may be concerned about the

tax implications of selling their home, especially if it has been their primary residence for a long time. The tax consequences can vary based on factors such as capital gains, exemptions, and changes in tax laws. It's advisable for seniors to consult with a tax professional to

understand the specific implications in their situation.

After selling their home, seniors often contemplate their next living arrangement.

Common options include downsizing to a smaller home or condo, moving to an independent care community, or transitioning to assisted living. Exploring these options in advance, considering healthcare needs, and involving family members in the decision-making process can help seniors make informed choices.

Many adult children find it challenging to broach the subject of aging and future care with their parents. Let us help you get in front of the right professionals. Questions about housing preferences, healthcare decisions, and financial planning can be sensitive. Open communication, expressing concern, and framing discussions around their parents' preferences and autonomy can facilitate these conversations.

Adult children often seek information about available resources, including local caregiving services, support groups, and government programs. Understanding the

resources and services in their parents' community can help adult children better navigate the caregiving journey and ensure their parents receive the necessary support.

As parents age, their living arrangements may need adjustments for safety and

accessibility. Adult children may have questions about how to assist with downsizing, aging in place in their current home, or finding a more suitable living environment. Sitting down with our Team we can advise a plan. Whether you need home modification or elder care, we

can provide guidance in these areas.

Adult children often want to ensure that their parents have their legal and financial affairs in order. Questions may include topics such as wills and trusts, powers

of attorney, healthcare directives, and managing finances. Encouraging parents to consult with legal and financial professionals can help address these concerns and ensure proper planning.

Juggling caregiving responsibilities with personal and professional obligations can be challenging for adult children. Questions about time management, self-care, and finding a balance often arise. Seeking support from siblings, family members, and community resources, as well as exploring options for respite care,

can help manage these challenges.