Facts About the Seniors Housing Market in Dallas
According to the 2019 Home Buyers and Sellers Generational Trends Report. by National Association of REALTORS, among buyers over 50 who purchased senior-related housing (seniors) 61% of seniors preferred to buy a single family home, 81% of buyers in age group of 54-63 preferred to buy a single-family home and this trend continues for buyers who are even older.
This is a strong indication that seniors like their independence and want to continue to live a life they want for as long as they can. This trend is known as aging in place and allows seniors to modify their existing home or a new independent home and modify it based on their special needs related to their old age.
In addition, almost half of seniors prefer to live in a suburban area compared to other options available.
Finding a top Dallas real estate agent who specializes in working with seniors can be a challenging process especially for seniors (defined as buyers above 50 years in age and above) as they are getting ready to downsize and potentially retire and have different set of needs and wants compared to other age groups. Hiring a SRES REALTOR can be beneficial to seniors looking to buy or sell a home.
What is an SRES?
Created by the National Association of Realtors, a Seniors Real Estate Specialist (or SRES) is specifically trained for the challenges and situations that clients age fifty and over face, including cultivating a network of related senior specialists in fields such as estate planning and tax counseling so that the SRES can provide a truly outstanding client experience.
Agents who gain the SRES designation have to complete a set of training courses on senior real estate challenges and needs. SRES agents are trained in no-pressure approaches to senior real estate needs, including suggesting housing alternatives to buying a new home or ways that a senior may be able to age in place instead of downsizing or making other moves. SRES professionals are also trained to identify senior resources in communities to help people find the best community fit, should they decide that moving is the right option for them.
How can SRES Help You Plan for Your Future Housing Needs?
Because an SRES focuses on retirees and seniors, they understand the need to plan ahead and the challenges that face seniors as they age with regards to balancing finances, mobility, health, and personal needs. They have also been trained to understand that the right housing for today may not meet your needs a few years down the road. There are three main ways in which an SRES can guide you in planning your future housing needs.
An SRES understands senior housing options including simply aging in place in your current home or moving to an assisted living facility or retirement home. Additional options include things like planned senior communities with new homes designed for the needs of seniors.
An SRES can assist in dealing with financial options for real estate. An SRES is trained in capital gains and other tax issues relating to owning real estate to better help seniors decide if a rental property is really the best option.As part of this training, they learn about how using pensions, IRAs, 401ks, and other retirement accounts in real estate transactions work. They also understand reverse mortgages, both the positive sides and the potential downsides of that type of mortgage for senior
An SRES will refer you to the specialist you need including an aging in place specialist who can help you make a plan for modifications to your existing home in order to make your home safe and comfortable as you age
Seniors life in Dallas
The five best Dallas suburbs for seniors, according to a recent report by niche.com are:
Of course, the best neighborhood for you may be different from any of these areas listed. With nearly 40 suburbs in the Dallas area, you are sure to find a neighborhood to match your “must-haves” list and narrow down your top choices. Contact us for an in-depth analysis of your needs and recommendations along with market reports of various neighborhoods in Dallas!
About us - Dallas Seniors Real Estate Specialists
Nitin Gupta is A Seniors Real Estate Specialist (SRES) in Dallas, TX. If you are a senior or the family member of a senior in the Dallas Texas area, please know that I am sensitive to the emotional, financial and practical aspects of seniors buying and selling real estate. If you are trying to help an older adult you love begin the process of relocating, it’s important to take your time and find a realtor who understands the unique challenges that come along with selling a home when you are a senior.
Having a licensed real estate agent who knows how to help a senior and their family through this transition is important. That is why the National Association of Realtors created a special designation for realtors who work with seniors.The Seniors Real Estate Specialist® (SRES) credential means a realtor has gone the extra mile to learn how to be a true resource for older sellers. To qualify, a licensed real estate agent must complete a training program that helps them learn more about the challenges of moving when retired.
I pledge to treat you like a member of my family.
Nitin Gupta, SRES, ABR, GRI, CRS, REALTOR provides services in the following cities:
Allen, Carrollton, Coppell, Southlake, Colleyville, University Park, Highland Park, Keller, Westlake, Grapevine, Dallas, Flower Mound, Frisco, Irving, Valley Ranch, Lewisville, McKinney, Melissa, Plano, and Prosper, Allen, Carrollton, Coppell, Southlake, Colleyville, University Park, Highland Park, Keller, Westlake, Grapevine, Dallas, Flower Mound, Frisco, Irving, Valley Ranch, Lewisville, McKinney, Melissa, Plano, and Prosper, Alvin Tx, Anna Tx, Aubrey Tx Azle Tx, Balch Springs Tx, Benbrook Tx, Burleson Tx, Carrollton Tx, Cedar Hill Tx, Coppell Tx, Colleyville Tx, Corinth Tx, Decatur Tx, Denton Tx, Desoto Tx, Euless Tx, Farmersville Tx, Flower Mound Tx, Forney Tx, Frisco Tx, Fate Tx, Garland Tx, Glenn Heights Tx, Godley Tx, Grand Prairie Tx, Haslet Tx, Heath Tx, Hickory Creek Tx, Irving Tx, Kennedale Tx, Addison, Allen, Argyle, Arlington, Aubrey, Azle, Bedford, Carrollton, Cedar Hill, Colleyville, Collin County, Coppell, Dallas, Dallas County, Denton, Denton County, Desoto, Duncanville, Euless, Flower Mound, Fort Worth, Frisco, Ft Worth, Garland, Grand Prairie, Grapevine, Haltom City, Haslet, Hurst, Irving, Johnson County, Justin, Keller, Kennedale, Krum, Lake Dallas, Lancaster, Lewisville, Little Elm, Mansfield, Mckinney, Mesquite, Naval Air Station Jrb, Newark, North Richland Hills, Parker County, Plano, Ponder, Prosper, Rhome, Richardson, Richland Hills, Roanoke, Rowlett, Rockwall, Waxahachie, Sachse, Southlake, Tarrant County, The Colony, Trophy Club, Tyler, Weatherford, Westlake, Wise County