Time to Apply for a Homestead Exemption

If you purchased a home last year, the closing attorney would have made reference to you filing for your Homestead Exemption in the new year following your purchase. In addition to this, when you are of retirement age there is likely to be a seniors exemption that you can apply for, giving you a further reduction on your property tax bill.

Please check with your county Tax Assessors’ office for the correct forms to file. As a Real Estate professional, I remind my buying clients about claiming their Homestead Exemption within the first couple of months of the new year after their home purchase because it is a property tax break you should not leave on the table, providing the property is your primary residence.

Homestead exemption applications are due by April 1 for the current tax year. The link below provides information including:

  • How to determine if you’re eligible for a Homestead Exemption
  • What information you’ll need to provide
  • How to contact your county tax officials

>>Click here for details from the State of Georgia

Tough Transitions

(Published with permission from Caring Transitions of Northeast Atlanta)

Tough TransitionsThe holiday season is over and many people area are now left with a sobering realization that loved ones they hadn’t seen in more than a year need help. The warning signs that can be masked by distance like hygiene, trouble standing, and stacks of unpaid bills became obvious as families reunited with aging parents over the last few weeks.

Now adult children are left with difficult questions about what to do next. Should we move mom to a senior community? Does dad need a caregiver? Is it time to downsize to a smaller home?

#1 Is it time? The first step is to figure out if this is the right time to begin the transition to a smaller and more manageable home or assisted living. Here are a few questions you can ask:

  • Did you notice a change in hygiene? Did she appear to have clean hair? Did he suddenly start growing an unkempt beard? Was there a noticeable and uncharacteristic body odor?
  • Were there expired items in the refrigerator? This could mean your loved one isn’t eating enough and isn’t paying attention to basic health and safety.
  • Are there stacks of unpaid bills? Stacks of unpaid bills can cause financial problems for an aging parent and are a major sign he or she can no longer keep up.
  • Did your loved one struggle to get around the home? If you noticed trouble getting in or out of chairs, a slow shuffling pace or frequent stumbling, it’s time to consider a home that is more suited to a senior’s needs.
  • Did you witness a lack of interest in hobbies? Maybe your mother is an avid piano player and you noticed the piano covered in dust. Perhaps your father loves to read, but you didn’t see a book by his bedside. These are signs your loved one’s zest for life is slipping.

#2 Consider your options. The second step is to research different strategies with other family members to find a good fit.

  • It’s time to downsize. Your parent may not need help with daily living, but you have noticed they struggle to keep their large home clean and the grass mowed. This is a great opportunity to discuss moving to a smaller house or even a condo.
  • It’s time for in-home help. Your loved one could benefit from an in-home caregiver who can assist with light housework, bathing and daily living
  • A fulltime care facility is the best option. Your loved one is struggling with all aspects of life from home upkeep to bathing. It’s time to move him to a fulltime care facility.

#3 Plan a move. Moving is listed as one of the most stressful events in a person’s life and it becomes even more stressful if that person has lived in the home for decades.

  • Sort first. Pack later. The hardest part of the move is taking that first step. Help your loved one sort through what to keep, donate and throw away. Each can be labeled with a simple color-coded post-It note.
  • Set a manageable schedule. Don’t expect your aging parent to work on this move late into the evening hours. Try to keep as close to their normal routine as possible.
  • Limit the emotion. Save photo albums for late in the process. Trips down memory lane can cause increased angst and regret about the pending move.
  • Hire someone to help. Downsizing companies like Caring Transitions are specially trained to assist with these kinds of moves. Experts can help ease the stress, streamline the process and speed up the move.

If you’re looking for helping with a cleanout, downsizing, packing/unpacking or liquidating an estate, you can contact Caring Transitions’ Mike DeLeon at mdeleon@caringtransitions.com.

Will You Downsize or Rightsize?

Is it time to move to a larger or smaller space? Whether choosing to move now or later, you should start asking the right questions today.

Here’s how to tell if you should move to a larger space:

  • You need to make room for aging parents or relatives who cannot afford to age in place or an elder care facility
  • You must make room for returning children
  • Your home is overflowing with furniture and miscellaneous items that have no place to go
  • You are running out of storage space

How to tell if you should move to a smaller space:

  • You or your partner has health complications that are not suited for the current layout of your residence
  • The thought of caring for your yard, multiple bedrooms, or general upkeep seems stressful
  • Moving could save you money in retirement
  • Your home has lots of space that is never used

A few other factors to consider before deciding to rightsize:

  • You’ve decided to move closer to children or grandchildren to make new memories with family
  • As your wants and wishes change, your neighborhood may no longer provide what you need
  • Your home no longer appeals to you and you are not in the position to nor desire to remodel
  • Selling your home could yield exponential financial benefits

Rightsizing can be new, exciting, and in some cases frightening. Considering the tips on this list can give you a great head start. Your next best option is to contact a Seniors Real Estate Specialist who will help you work out a plan of action and time frame best suited to your needs.

For Full Article of questions and video to help you when it comes to relocating Click Here
Source: Lisa Haskell, Owner of Caring Transitions of Central Gwinnett  Click here to contact them.

Independence from Mortgage Payments!

Did you know you can purchase a home, even new construction, with a Home Equity Conversion Mortgage? It’s a reverse mortgage that doesn’t require you to make a monthly payment.

I’ve had many conversations about this very issue with numerous senior clients who are concerned with having a mortgage in their 80’s and 90’s. Especially now, when the cost of living just seems to keep on rising for them.

In this time, most people are realizing the power of cash – accessible cash that is.  As we age, it is important to have access to the money we have earned over the years in order to help us manage our chosen lifestyle and our health in the retirement years. A forward mortgage, such as a conventional home loan, a VA or FHA loan requires you to spend every month by paying back principle and interest, which puts pressure on your bank balance. Whereas a reverse mortgage allows you to keep your money in your pocket to use how you wish, with an option to pay or not to pay a monthly amount toward principle or interest.

Beware, not all reverse mortgages are equal. Be sure to speak to a professional who is willing to sit with you at your kitchen table (or their office) to explain the details. Online services are unlikely to do that, and may lead you into signing documents without explaining everything you need to know.

Consider this information as a tool you can use for your financial wealth.

3 Ways to Buy a Home

Presented in partnership with Genie McGee a Reverse Mortgage Planner with Fairway Independent Mortgage Corporation.

If you need to know how much equity you have in your home, contact me for a complimentary real estate market analysis.

 

Real Estate Instructor Having Fun!

Hilary Walker

A whole bunch of fun is what we have when I get together with fellow agents to teach the 3-hour Continuing Education class called “Here Comes the Boom” and the 2-day Designation class, “Seniors Real Estate Specialist”. Both feed my passion for educating. The classes are always great learning for the participants as well as me – since teaching is always a two way street,  in my opinion!

As a Real Estate Instructor, I can share information and examples from my own vast experience. However, the experiences shared by participants are most valuable to help us all learn what our clients need from us, how we can best service our clients, or pick up tips and strategies to support our real estate businesses.

I’m available to instruct real estate agents and to facilitate seminars for older adult groups open to hearing about the challenges and solutions of downsizing, resizing and relocating. Call (678) 609-8019 to discuss how we might work together.

Class Video Pictures

Class Testimonials

“Best most informative class yet!” J Tow 

“Hilary was awesome & also her guests – would recommend the class to anyone” T Prieto

“ Awesome class – Awesome instructor!” C Banks 

“ One of the BEST classes I’ve ever taken!! I would love to work with seniors!” L Peterson 

“ I felt like a sponge that couldn’t soak up all the great information that I learned. Amazing class and amazing instructor!”

“Hilary Walker and other speakers are passionate and very knowledgeable. The class was very well worth it because of this”

“Instructor very passionate & committed!”

“SRES very interesting to me now. Hilary was great – Very knowledgeable” B Clifton

“Well put together. Great Instructor” 

“Excellent Presenters, Excellent Materials, Extremely Useful” 

“There was a lot more information than I was expecting. Great class” 

“Outstanding class. I cannot begin to tell you what I got out of this class. You definitely have challenged me”. J Lester 

“Extremely wonderful presenter. Guest speakers were incredible too!”  

“Great Instruction, Great Info, Enjoyed the class”  

“Well informed and animated instructor – included real life examples to illustrate objectives. Well worth the investment of time & $$!” 

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