Wednesday, January 13, 2016

Boomers Relocating to Sarasota: A Complicated Real Estate Dance

Many Boomers dream of relocating to the Sarasota area when they retire.  
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Sometimes they're ready now to leave their "up-north" lives behind and reside here full-time. Others look to buy a Sarasota home they can rent out for part of the year and occupy for a few weeks or months, until they're fully retired or done with caring for elderly parents. 

What's true for all of them is that each situation is different and will require a customized plan for making their dream come true. And it really helps to have knowledgeable professionals at hand to help them execute what can be a complicated dance of selling and buying in different states.

For instance, Jane and Jack (names changed) raised their children during many happy years living in a spacious suburban New Jersey house. Now that the kids are grown and living independently, and Jack is nearing retirement in a few years, the couple visualize splitting their year between the two states where they can enjoy the outdoor lifestyle they prefer: Florida and Colorado.

However, during the past two years, they've had to prioritize helping both of their elderly mothers transition from independent living to assisted care. During this time, they found a condo nearby that they can move into, so they can realize a profit now from selling their existing large home, and simplify their maintenance costs and chores. 

But while they were waiting for their new condo to be ready, they had to temporarily move into Jack's late parents' house. This also gave them the opportunity to prepare that house for sale.

Jack will be retiring in about a year, so he and Jane will soon begin looking for a golf community home in Sarasota County. 

In order to actually move here, though, they'll need to carefully time the sale of their New Jersey condo with the closing on their new Sarasota house. While they can choose a New Jersey broker for the sale and a Florida broker for the purchase, their relocation will be smoother if they use a real estate broker here in Sarasota who already has a referring relationship in place with a coordinating New Jersey broker. 

According to Mooshi Chapel, licensed Broker Associate with Keller-Williams Real Estate in Sarasota, "I pre-qualify the brokers I use for out-of-state transactions, so I can be sure they'll provide my clients with the same level of attention and follow-up they are accustomed to in working with my team." Chapel confirms, too, that every buyer has a different set of logistical challenges to tackle in making their new Sarasota life a reality. 
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While there seem to be many houses and condos for sale here right now, Chapel says inventory is very tight, since so many variables have to coalesce to fit a home to a buyer, and so many Boomers are converging on this area, ready to purchase and move in.

Jane's and Jack's objective of a Florida/Colorado next chapter is taking a circuitous route -- including several moves within New Jersey before finally reaching Sarasota. Yet it's just a matter of keeping their eyes on the goal and finding expert help along the way to smooth the bumps. Within the next year, they're hoping the only "bumps" they encounter are the fluffy snowy kind they love on the ski slopes of the Rockies.

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